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Misc Stock Market

Shorts are getting steam rolled today but lot of put buying still....

Q's straight up almost 7% past couple of days since the SNAP debacle.

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Recession is officially here.

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Strippers say a crash is guaranteed because the strip clubs are suddenly empty

Some strippers on Twitter said they think a recession and market crash is guaranteed - because the strip clubs are suddenly empty.A woman who goes by @botticellibimbo on the platform said the following about the clubs: "The strip club is sadly a leading indicator, and I can promise y'all we r in...
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Great day, made up for when I got caught long the other day with the Snapchat earnings. I’m flat all my longs but put on Q’s $295 lotto puts for 70 cents. Just 5.
 
If you believe in wave theory that could have been wave 3....so far the fib levels have lined up nicely.

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My short got stopped out for a small loss...and now I am just sitting and watching.

I really don't like when the market get's manic like this.

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re-shorted Q's at $306.50. This should be resistance but....
 
SPY has reclaimed the Feb low....bear market over I guess. SPY now only down 14% from ATH's. Not bad.

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It's really impressive we have had no down ticks for much of 4 straight days after the SNAP earnings debacle.

This market is so unhealthy....it's either straight up or straight down, there is no consolidation.
 
SPX clearly has broken through strong resistance, reclaimed Feb lows but tech needs to push through $12600. That probably gets done Tuesday pre-market...or heck maybe over the next 90 mins.

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The Mcclellean osc is probably over the March highs, will find out after close. It's probably over 70....market went from extremely oversold to extremely over bought in 4 days.


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Sick of this market. Need the VIX down below 20 so we can stop with these parabolic moves and start trading patterns.
 
In 3 days the SPY erased 3 weeks of red and has flipped May green. Stairs down...elevator up.

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McClellan Osc at a multi year high. Typically would expect some chop but market looks crazy strong.

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Most of the mega cap tech charts are like this...they walked it right back to a/the critical level, day 3 or 4 up in a row. Intraday is extremely overbought but on a weekly/daily it's not. In a bear market we would see rejections across the board next week...but if this is a true reversal then we see these levels reclaimed and daily close over these levels. ?‍♂️

I think we continue to rally but...ideally, we get a couple of choppy days and then continue higher. If we just rip another 3% higher Tuesday on the Q's that would suck.

Apple - $150
MSFT - $274
Amzn - $2300
Google - $2250
Tesla $760.

Screen Shot 2022-05-28 at 9.51.28 AM.pngScreen Shot 2022-05-28 at 9.52.41 AM.png
 
Apple was tough...$138 was a key pivot and they kept dropping it below and then ripping it higher and then bears finally gave up.

Apple has a gigantic buyback they can feed on so that makes things trickier.

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I still don’t own bonds in my long term accounts…bonds are a Fed induced bubble too and I am not sure how they will react when Fed starting rolling off there balance sheet.


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Last edited:
KyloG said:
Most of the mega cap tech charts are like this...they walked it right back to a/the critical level, day 3 or 4 up in a row. Intraday is extremely overbought but on a weekly/daily it's not. In a bear market we would see rejections across the board next week...but if this is a true reversal then we see these levels reclaimed and daily close over these levels.

I think we continue to rally but...ideally, we get a couple of choppy days and then continue higher. If we just rip another 3% higher Tuesday on the Q's that would suck.

Apple - $150
MSFT - $274
Amzn - $2300
Google - $2250
Tesla $760.

View attachment 118820View attachment 118822
Click to expand...

Don't forget QT starts June 1st so no telling how the market reacts to that . I think we pump Tuesday and Wednesday and then see a lot of selling Thursday Friday


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So is anyone worried about QT ? It's the biggest liquidity drain the market has ever seen . For this reason I think there is no way the bottom is in yet


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