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Misc Stock Market

Looking like a textbook 120MA bounce back right now. Let’s see if we can close above it
 
I'm raising the odds that QQQ takes a -20% similar to 2018 in the last half of the year from ATH to 30% now in the time period of mid-February through March. I was looking for further downside, but not this (REALLY figured that today would be a dump and pump day, and then you'd see tomorrow finish lower).

Kind of deathly curious now if this causes even further issues because of the ARKs having liquidity problems (ARKK -25% from mid February). They have to be just about out of their big caps, and if you don't see the tech sector stabilize, the next thing they're going to have to do is sell Tesla and their mid and small cap stuff.
 
GeorgiaGirl said:
If true, this is a yikes from me, dog:

Rob Schmied on Twitter: "ARK dumped every letter of FAANG today. Impressive $ARKK" / Twitter

They have literally nothing else left to sell for liquidity. They better pray that .IXIC starts bouncing for real soon or they might help contribute to completely blowing up .IXIC due to liquidity issues for their ETFs.

Edit: I think FAANG settles down next week tbh, but the mid and small caps won't.
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That’s her MO. Whether she’ll be right in the end who knows...but she said on an interview yesterday that she’ll sell her liquid stuff and buy into the top 20 or so stocks that make up her most innovative, bullish ideas during market downturn. She doubles down on her biggest ideas. That’s exactly what she’s doing here...tomorrow should be interesting. My call is we get a big bounce, either tomorrow or Monday. Deep down inside we know tech will be broadly oversold despite the bond yield right? If not then a bigger market correction is underway in the middle of an economic “recovery” and getting back to normal from COVID, god help us all.
 
Jon said:
That’s her MO. Whether she’ll be right in the end who knows...but she said on an interview yesterday that she’ll sell her liquid stuff and buy into the top 20 or so stocks that make up her most innovative, bullish ideas during market downturn. She doubles down on her biggest ideas. That’s exactly what she’s doing here...tomorrow should be interesting. My call is we get a big bounce, either tomorrow or Monday. Deep down inside we know tech will be broadly oversold despite the bond yield right? If not then a bigger market correction is underway in the middle of an economic “recovery” and getting back to normal from COVID, god help us all.
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It will likely the same pattern since Monday tomorrow, in which if so, I will likely be getting out of at least one of my positions during it, maybe two.

I thought today would be an oversold bounce btw. Nope. Don't see one tomorrow either. Most likely a quick bounce at open from short covering/algos, then down, then a recovery attempt, and then likely another -1% or lower in the tech sector to end as nobody will want to hold over the weekend.

I'd look for the S&P to trade at 3670ish, maybe overnight Sunday, and then lets see after that.
 
GeorgiaGirl said:
It will likely the same pattern since Monday tomorrow, in which if so, I will likely be getting out of at least one of my positions during it, maybe two.

I thought today would be an oversold bounce btw. Nope. Don't see one tomorrow either. Most likely a quick bounce at open from short covering/algos, then down, then a recovery attempt, and then likely another -1% or lower in the tech sector to end as nobody will want to hold over the weekend.

I'd look for the S&P to trade at 3670ish, maybe overnight Sunday, and then lets see after that.
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Some of these tech shares will be stupid cheap, someone is going to buy them to mute it a bit which is my guess. As long as Powell doesn’t speak we’ll be fine.....maybe.
 
Upside surprise on jobs. Y’all should have a good idea that I’m not conservative but even this surprised me. I was looking for more improvement in the March report and on...
 
GeorgiaGirl said:
Upside surprise on jobs. Y’all should have a good idea that I’m not conservative but even this surprised me. I was looking for more improvement in the March report and on...
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10-year jumped in response. Primed for another red day for Nasdaq. Sheesh.
 
I've decided that for this afternoon, I will have ARKK up in another tab on my computer (and I have it up now). Time to watch the falling knife.

Although I can't really speak as a move that turned out to be stupid by me wiped out all of the gains in an account where I was going to try to be a littler riskier. At some point, I'll get out of that position and if I keep going in this case, I will likely be looking for another QQQJ type (I'm still a fan of this ETF).
 
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