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Misc Stock Market

I think I have an idea of what was happening while I wasn’t really looking. There was apparently a fund (and maybe more than one) getting blown up, which was causing liquidations. They were names that are not really important to the averages, but it did cause volatility to stir, which put pressure on the averages.

Once that stopped, volatility went back to sleep and the S&P jumped 20 points in 10 minutes.

Explaining the last 25 minutes is above my pay grade, but I will say that QQQ max pain for today options wise was $316 and puts are leading calls now. They are next week too.
 
IWM looks great if it can close over $222 on Monday. But, if it gives up the 50dma then...I am banking on it recovering. Retail is still swarming anything with a pulse.

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KyloG said:
IWM looks great if it can close over $222 on Monday. But, if it gives up the 50dma then...I am banking on it recovering. Retail is still swarming anything with a pulse.

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See if you can get retail back into MVIS haha
 
Cathie’s funds looks plenty beat up and she’s been on a buying spree of beat up stocks. These are down 30%. If their is going to be a reversal these could be nice.

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Archegos Capital has apparently been confirmed as the fund that blew up yesterday.

The Dow and S&P had all time closing highs.

Some of these L/S guys apparently have no common sense. The guy involved had been running on 5x leverage.
 
KyloG said:
Cathie’s funds looks plenty beat up and she’s been on a buying spree of beat up stocks. These are down 30%. If their is going to be a reversal these could be nice.
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I think anybody that bought short term puts in the ARKs likely would have been better off burning their money. My lean is down Monday for the market but her funds are going to bounce again soon. May be worth it to trade that but the bounce may have already started.

I wouldn't long it right now given the things that I've hearing. A lot of big guys are shorting her stuff. I'm guessing that you'll see a big bounce out of it and then back down after OPEX in April (April 16th).
 
David Faber on Twitter: "Carnage in $VIAC may not be done. Hearing another $2b block of shares being shopped tonight as liquidation of one or more hedge funds continues.These were the buyers sending $VIAC and $DISCA up over these last 2 months. Buying on swap, using enormous leverage and somehow unknown." / Twitter

Well at least one player isn't really unknown now but dang. May be some weird action again tomorrow (as it was kind of odd that the VIX woke up on a Friday considering what often happens then, I was honestly thinking that we were mostly done for the day at around 1).

Like I said on Saturday, I'm thinking that tomorrow is going to be red. Actually, weakness can likely last through the 31st, but unless something crazy happens, you probably see a rally to OPEX week after the 29th-31st, where it will be interesting to see if whether the rotation/dispersion stops after OPEX.

Chinese tech may become a swing trade soon? (as I'm guessing that if VIAC gets liquidated, names such as BIDU might get hit too and there are other names here) Not something I'll participate in, but have at it if you want.
 
Thinking about buying some stock in XRP. Any thoughts on this stock option?


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HGEN finally popped yesterday after releasing results from it's P3 trial of treatment for hospitalized C19 patients. Been waiting a long time on this one. There is still room to run when they get Emergency Use Authorization, etc. But still risky cause shorts will want to have their fun in-between press releases. Coincidentally, the other I mentioned here, RLFTF, also released promising 60 day results from their C19 trial as well.
 
metwannabe said:
Glad I bought more MVIS this morning! The squeeze is on @Rain Cold
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Kill me now. I dipped my toe in yesterday with only 200 shares. I should have bought 2000 shares. ?‍♂️

I was traveling and saw how low it was and added it for a placeholder to scale in more. I just pulled in my driveway and noticed it’s fn $18!

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KyloG said:
Kill me now. I dipped my toe in yesterday with only 200 shares. I should have bought 2000 shares. ?‍♂️

I was traveling and saw how low it was and added it for a placeholder to scale in more. I just pulled in my driveway and noticed it’s fn $18!

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This was unexpected news tbh, nothing to do with it's April LRL demo....if they drop some AH PR, oh my!!
 
Nice day for bulls overall with new closing record for S&P 500, a very strong Nasdaq, and an only modestly down Dow,
 
metwannabe said:
This was unexpected news tbh, nothing to do with it's April LRL demo....if they drop some AH PR, oh my!!
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Sold my measly 200 shares at $19.20. That was right at resistance...I would love for a gap down tomorrow as I would buy the dip.

I think $17 would be a good spot to try again. It had a big candle in early Feb and then sold off $5/share before going again. I don't think this drops much more than $16 with the news that just came out and the speculation. But, when I have a stock move from $12-$19 into resistance I take profits.

The hourly chart shows it battling the purple trend line...which is the breakout.

Screen Shot 2021-03-31 at 4.39.19 PM.png
 
I wonder if the S&P's dance with the 4k line or maybe a little higher is going to end up turning into something similar to what was seen in 2019 where it was extremely tough to crack 3k. It ended up turning back about 5 points from it in the middle of the day.

It'll likely get there and perhaps beyond next week with good structural flows, but I could see a case where it gets to the "beyond" and then finally corrects not long after that, what will need to be watched is how other parts of the market does, especially the transports (as that's a good lead indicator in the case of the Dow, it looked great yesterday but not so good today, although today was only one day). If they're slack, it's a likely flag that builds on the flag that small caps honestly might be done here...
 
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