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Misc Stock Market

KyloG said:
I went full tilt after Costco today. I went heavy short yesterday and was up big, closed half before close. It was $435 in pre-market and I blinked and it was at ATH’s. Ended up closing the other half with small loss…net was a win but still very frustrated.

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Yeah these mega cap earnings selloffs a have been followed by rips. It’s really hard to wrap my head around. Goofy market.
 
Jimmy Hypocracy said:
Yeah these mega cap earnings selloffs a have been followed by rips. It’s really hard to wrap my head around. Goofy market.
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Market makers are propping up the indexes and the rotate to large caps to do it. Under the hood of this market is a lot of carnage. But, Apple, MSFT, Adobe, UNH, PEP, COST are literally keeping the market afloat. Never seen anything like this.
 
I didn't express it in here before it happened but I had a weird, specific feeling that the Nasdaq was going to get hammered after last week ended. It wasn't in bad shape, but what happened last week reminded me of mid-February before it started to really get hit hard, where it would get drilled and then rebound.

I now think that it's done getting hit though. If it's not done, it's close unless it's about to drop at least 8% again (from an ATH).

Value stocks on the other hand, while the Dow appears to have bounced off the 50 today, the action in value names suggests to me it has at least another 500+ points to drop. Maybe happening tomorrow.
 
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GeorgiaGirl said:
I didn't express it in here but I had a weird, specific feeling that the Nasdaq was going to get hammered after last week ended. It wasn't in bad shape, but what happened last week reminded me of mid-February before it started to really get hit hard, where it would get drilled and then rebound.

I now think that it's done getting hit though. If it's not done, it's close unless it's about to drop at least 8% again (from an ATH).

Value stocks on the other hand, while the Dow appears to have bounced off the 50 today, the action in value names suggests to me it has at least another 500+ points to drop. Maybe happening tomorrow.
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Hello
 
Inspired by comments on Reddit...lol...like I listen to them, especially considering that two of the replies that I got were from meme stock cultists (this has also been pointed out elsewhere):

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Expanding on the above, I know with May, there was a pullback before OPEX, even though OPEX week was also a down week. The reason why was because April CPI was an absolute blowout.

I do get the feeling that repeating June/July would be too obvious because at this point, a lot of things are lining up to where it looks way too much like those times. Perhaps Ms. Market is about to burn everybody that front ran the 50 day touch on Thursday, causing it to not happen in regular trading hours despite a volatile session. We'll see...
 
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I know, the range highlighted goes down to the low 33k's, but it has generally been in between 34k-35.2k for 3+ months now.

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GeorgiaGirl said:
The put that I sold was an AMAT $120 put at 1.90 that expires September 3rd and my only regret is that I didn't put the strike at 2 dollars. My hope is that the Nasdaq and semis reverse next week (I haven't expressed it but I had a weird feeling there after last week), but if not, I can take the assignment.
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Bought back at .4 today. Nice win for the first time doing this.

It's probably going to expire worthless but a profit is a profit.

Had no idea that the reversal was going to look like this. Kind of an absurd day. May be a little while before I can sell another but I'll do some looking around later tonight.
 
Broken024 said:
Hopefully not much lower. I'm short 2 $15 puts. Looked like free money at the time.
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Hell, I'm at a $17 average. I got in with the Spac before SOFI became sofi. Im long on it though, I think it's a great company that should be easily $25-$30.
 
Gopack42 said:
Hell, I'm at a $17 average. I got in with the Spac before SOFI became sofi. Im long on it though, I think it's a great company that should be easily $25-$30.
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Yea I was fine being assigned at 15... I still might get assigned 200 shares if it stays below 15 by 9/17. Should be close.

What do you like about sofi?
 
Broken024 said:
Yea I was fine being assigned at 15... I still might get assigned 200 shares if it stays below 15 by 9/17. Should be close.

What do you like about sofi?
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Management looks solid, Financials look good, and ....to be honest....I just like the concept and platform. Given time, I think it will do great.
 
Gopack42 said:
Management looks solid, Financials look good, and ....to be honest....I just like the concept and platform. Given time, I think it will do great.
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There are some real bargains in Fintech right now. I have more weight in paysafe due to their exposure to online gambling. Love my DraftKings!
 
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