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Misc Stock Market

IWM and the Dow are flying this morning when the main reasons why they had been hit (IWM the hardest and the Dow in a catch up way yesterday) hasn't been repaired (which is the slide from TNX)...
 
SPX has a shot at filling that gap down in one day which I really didn't think was possible in one day.

This market is insane.

Edit: Aaanndddd that gap's filled. Could easily be a one day thing but until proven otherwise, we should assume that we're still in the regimen that we've been in since late October (as that snapback was fairly fast as well)...several months ago.
 
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Rain Cold said:
Time for the traditional one day vacuum followed by a multi-week snap-back to new ATHs. You can look at whatever index or whatever technical indicators you want, but that's the basic pattern. One day, that will change. But persistence has been paying out bigly.
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Nailed it
 
GeorgiaGirl said:
TNX ultimately didn’t do what was needed and is now going in the wrong direction. If there’s still a pop at open, it will likely be sold hard… probably a deep red day for many areas of the market.
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-725 yesterday +549 today. Nice little bounce back in yields and crude also. You should demand a refund from those people who are keeping you focused on tnx and ark and things like that. They aren't doing a good job of looking at the big picture. The only thing that gives me a slight concern is bitcoin not participating. These other things are down for a few days and then snap back and lead or are up for a few days and then fall back and lag. A lot of these things used to be somewhat reliable back in the day. Now, the market is too easy to direct by key/big players, given the vast amount of indexing, corporate buybacks, monetary policy, and the prevalence of algos. They'll let it go when they're ready. Looks like they're not ready yet.
 
That Netflix move isn't surprising because it's a stock that is attached to a fair amount of options trading, and stocks that are attached to options trading tend to move the most after earnings.

Also definitely isn't indicative of how the other mega Nasdaq stocks do. Now they might impress and have it not translate to the way their stock moves as QQQ has already had a heck of a move again into major tech earnings, but Netflix disappointed in April and everybody else did well...heck I'm pretty sure they disappointed in January but mooned because they teased buybacks and took all of the other mega Nasdaq stocks with them.

Btw, based off things that I've read, the bitcoin and stocks correlation stopped working earlier this year. It's an interesting sideshow unless it causes margin calls...which I suspect has been going on at times in the bond market lately (actually I'm pretty sure that was the main cause of what happened a week and a half ago as the bond market retraced that short squeeze) since there are many that are short bonds.

Edit: I do wonder if whether China pulling out of bitcoin is part of why this correlation has become busted.
 
GeorgiaGirl said:
That Netflix move isn't surprising because it's a stock that is attached to a fair amount of options trading, and stocks that are attached to options trading tend to move the most after earnings.

Also definitely isn't indicative of how the other mega Nasdaq stocks do. Now they might impress and have it not translate to the way their stock moves as QQQ has already had a heck of a move again into major tech earnings, but Netflix disappointed in April and everybody else did well...heck I'm pretty sure they disappointed in January but mooned because they teased buybacks and took all of the other mega Nasdaq stocks with them.

Btw, based off things that I've read, the bitcoin and stocks correlation stopped working earlier this year. It's an interesting sideshow unless it causes margin calls...which I suspect has been going on at times in the bond market lately (actually I'm pretty sure that was the main cause of what happened a week and a half ago as the bond market retraced that short squeeze) since there are many that are short bonds.

Edit: I do wonder if whether China pulling out of bitcoin is part of why this correlation has become busted.
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And right on cue, bitcoin has joined the party.
 
I’m loaded. Hopefully not a loaded diaper. Market too strong right now for any healthy company to be looking like this. Offering did this.6748B86C-FABF-4B27-B678-E102EA784FB0.png
 
One day for the S&P to fill the gap down (although it came back in a bit in the end yesterday) and two days for the Dow to fill the gap down.

Truly something else. Reminds me of what happened in early March.

Next place that can cause a reaction in the Dow is 34820-34850. Might not be a bad thing if it does cause a reaction, cool off some from the volatile moves before trying to break the all time high (which it was starting to position itself for a good attempt at a mere few days ago).
 
snowlover91 said:
I've been playing some big boards lately since this is the OTC slow season, although there are still plenty of OTC movers. CEMI, NURO and LEXX are a few that have been really moving lately and have been good flip/scalp opportunities.
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I took a minuscule starter on INKW today and 3 hours later they dropped an offering. It’s tough out there. I’ll be watching it tomorrow for a scalp. Should get a selloff in the morning.
 
Jimmy Hypocracy said:
I took a minuscule starter on INKW today and 3 hours later they dropped an offering. It’s tough out there. I’ll be watching it tomorrow for a scalp. Should get a selloff in the morning.
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I want to blindly follow you for ----- and giggles but I end up losing each time. Stupid new job makes me hold for 30 days now, can't get locked into a jimbo trade that long.
 
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