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Misc Stock Market

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Please just send it all to zero


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Rare I agree with this guy, but have to on this one.

www.theblaze.com

Warren Buffett slams Wall Street for becoming a 'gambling parlor' | Blaze Media

Warren Buffett, the CEO of Berkshire Hathaway, condemned Wall Street for encouraging speculative behavior in the stock market, effectively turning one of America’s largest financial institutions into a “gambling parlor.”The 91-year-old executive made the comments on Saturday during his company’s...
www.theblaze.com www.theblaze.com
 
This is the 4 month chart for the Q's...to end 2018 it saw a candle like this but the Fed stepped in and said they would slow rate hikes and they cut in 2019. It also saw this back in the financial crisis and the Fed stepped in and cut rates and started QE. This week we are getting the opposite...the Fed is expected to announce a 50bps rate hike and guide for additional 50bps rate hikes with a target of 2.5-3%.

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Some have made reference to the 40p EMA on the monthly for the Q's. That's roughly $285-$290 which is about 30% off ATH's.

That's also roughly the 1.0 Fib extension. It's not that far away with how fast the market is moving. Everyone looks at the same charts and guesses on when a violent bounce could come. Whenever that level is hit it's going to be extremely violent...is it $310...$300...$290. ?‍♂️


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Something gives on Bitcoin soon...markets melting down, liquidity drying up but somehow Bitcoin won't rollover. ?‍♂️

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Market should like this.... ?

Can't imagine what's going to happen if they hike 50bps on Wed and than signal for 75bps for June and/or July meetings.

 
Really not a heck of a lot to say about Friday except that if you feel that the Amazon move is legit, it likely should be paired with Apple going to $120-130, which would be a brutal domino (and it’d likely be a while before it happens as it’s a stock that people like to hide in, maybe the report that we get in the summer does look bad due to the issues in China and sparks it).

I had expected -10% by Amazon but the overall move that happened there “really” surprised me anyway. There were points until 3 PM where it looked like it had no bid at all.

Depending on what happens tomorrow, I may try to play the mean reversion game in SSO, but I’ll be out before the Fed decision, others can potentially let themselves get screwed over.

It would’ve been WEBL but that move by Amazon was just too startling for me.
 
Bought some dips this morning...Qs at $312 and NVDA at $183.5
 
Found free money. You can sell spy spreads (425/426) for $24 expiring today. Max loss $76 per spread.
 
Added $AAPL at $155...that is the do or die level. Still holding a lot of NVDA and Q's.
 
Closed Q's at $317.50 from $312 and NVDA at $191. Still holding Apple and looking to add dips
 
Finally going to get a great week.
 
Apple bounced at the edge of a cliff...it's not going down with a fight, but a close below the LOD would be very bearish.

3 day chart

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Probably should raise my stop to just below $313 but buyers came in at the .618 fib level...we break that it's not going to be pretty

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Yields up....if the 10yr pushed through 3%. Oh boy




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Added a bunch more Apple at $155...holding Q's and Apple. Been a great day so far...just need Apple to hold this super critical level. If it doesn't the market flushes hard...IMO.
 
Seems like SPY is going to fill that gap down to $400...so weak today.

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Small caps broke $188...retested this morning and rejected. Looks like it's headed to $170's.

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