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Misc Stock Market

Broken024 said:
There is a huge difference between the US economy and Venezuela. Also, inflation here is 7% or so. Venezuela was 56% in 2013 and 863% in 2017. This is a really bad comparison.
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It’s funny that we have the tools to fight record inflation but our fed won’t fix the problem they created for fear of pissing off the wealthy. Raise rates. And not .25% at a time. For an indefinite period. They need to do it and be done with it.
 
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Tomorrow maybe the 8dema and 200dma gets hit on SPY in the $442-$443 area. Would look for a bounce there...

I really don't think the market rolls over and re tests the yearly lows anytime soon. Unless Putin fires a nuke.

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KyloG said:
Something going to give...we can't have housing prices parabolic with rates increasing like this too. There is a probably a lot of folks like me...sitting on a 3% mortgage rate and pretty much stuck as my payment is so cheap.

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Yeah the way things are going with rates and prices, it isn't financially wise to sell your house to buy another if you can help it. The exception to this is if you have your house paid off and can use the proceeds to buy a new house with cash outright. You would think at some point the high prices and rates will slow the buying down and home prices will respond downward or at least level out. Then again if nobody is selling because they don't want to enter a new house/mortgage with a higher payment, then the supply problem will worsen and prices may not come down. Such a cluster----.
 
Closed out FB yesterday in the mid $117's....started back up today in the mid $114's. Will keep adding. Looks great for such a tech sell off today.

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Still waiting on a 1-2 percent red tech day . I mean S*** big tech has been green 7 days in a row


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Storm5 said:
Bullard is the most Hawkish person in the world lol


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It's part of the good cop bad cop routine like I said the other day, so they can at least claim that they're trying to maintain credibility. They are obviously going to end up on the least hawkish path they can afford to take. 10 years ago, you might could have convinced me differently. Not anymore. Their mission has become more than obvious. But it's cute how they still pretend.
 
We are still in that mode where the indexes are either up 1-2% or down 1-2%. I expect more of the same tomorrow into Friday. I am about 65% cash and will add more tomorrow.

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Ideally, I would like to see a nice sized gap down...we chop around until early afternoon and then start a rally into Friday. Definitely don't want to see a gap up tomorrow, makes it much tougher.
 
Nice move in gold and crude today. Would be good to get some junk silver if you can find it reasonably priced. I haven't looked, but I suspect premiums have risen a bit over the past couple of months. Pre-1965 quarters, dimes, half-dollars, silver dollars are nice to have.
 
Rain Cold said:
It's part of the good cop bad cop routine like I said the other day, so they can at least claim that they're trying to maintain credibility. They are obviously going to end up on the least hawkish path they can afford to take. 10 years ago, you might could have convinced me differently. Not anymore. Their mission has become more than obvious. But it's cute how they still pretend.
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As i always say inflation is the way the rich tax the poor so the elite can thrive.
 
KyloG said:
Something going to give...we can't have housing prices parabolic with rates increasing like this too. There is a probably a lot of folks like me...sitting on a 3% mortgage rate and pretty much stuck as my payment is so cheap.

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Can you imagine how the butts of people with ARM loans are tightening?
 
I would look for 4300 at the lowest to hold for SPX for now at least. If we slice through it strongly, then I expect a 4th time around 4170 to fail and it probably gets followed by 3960.
 
KyloG said:
Ideally, I would like to see a nice sized gap down...we chop around until early afternoon and then start a rally into Friday. Definitely don't want to see a gap up tomorrow, makes it much tougher.
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So much for follow through down...I am intermediate term bullish, I do think we go higher but thought we would get a couple of down days. And maybe we will and this will be faded hard today.

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FB just a great looking chart...if it can close over $218 it opens up low $230's.

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Welp, it's a good thing I haven't let go of SARK yet.

I was very close to doing so yesterday because Tesla was running, and I just didn't get the feeling that there was too much trouble ahead, but the Nasdaq Composite slammed into a wall right where it needed to for the bearish case.

I've said before that it needs a weekly close above 14188, but I really think it's 14150 actually, because that's the last February 2021 ATH, and that was a key spot until it broke in June last year and it stalled a bit there before rebalancing took it over on the last day of January this year.

Edit: A lot of big names look pretty good to be honest, I just have some doubts that they take over again like last year.
 
Added some $PYPL to my long term account. Have had shares for a couple of weeks but was small.



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