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Misc Stock Market

Took a position in Vuzi yesterday at $11.30. Has a nice falling wedge and ARK funds have been buying a lot of this. Nice falling wedge pattern that if it breaks up and out it could run.

I should add to it today but I am in timeout.

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I didn't get filled in my Bitcoin bids last night but did get a couple filled for Eth...at $2680 and $2720. It's had a nice bounce today...trimmed some and set stop at $2644. It's a free run now incase it decides to vomit.

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$HOOD (Robinhood) was a falling wedge pattern i took at $40. These patterns can move when they break to the upside.

It's reclaimed all it's moving averages.

I really like how it backtested $40 the other day...it held and now moving.

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Last post...I am a believer in wave theory, which doesn't apply to everything at all times but this could be a classic ABC correction for QQQ/SPY. ABC corrections after a wave 1-5 move up always looks like head and shoulder patterns too...

This could be the start of the B wave up to the yellow box and then a bigger drop with C wave which would complete the correction. Just a thought...

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KyloG said:
Last post...I am a believer in wave theory, which doesn't apply to everything at all times but this could be a classic ABC correction for QQQ/SPY. ABC corrections after a wave 1-5 move up always looks like head and shoulder patterns too...

This could be the start of the B wave up to the yellow box and then a bigger drop with C wave which would complete the correction. Just a thought...

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SPY chart with wave 1-5 and possible start of ABC correction. ?‍♂️

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Broken024 said:
Unlimited money printer cheat code helps
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How are they ever going to raise rates...in 6 months there will be something else globally that they can justify keeping 0% rates. We've essentially had 0% rates since 2008, almost 13 years. Eventually we are going to need a Fed that will exert some pain, because one of these we are going to have a real big global/country problem and need the ability lower rates and have QE.
 
KyloG said:
How are they ever going to raise rates...in 6 months there will be something else globally that they can justify keeping 0% rates. We've essentially had 0% rates since 2008, almost 13 years. Eventually we are going to need a Fed that will exert some pain, because one of these we are going to have a real big global/country problem and need the ability lower rates and have QE.
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Yea... kind of just stuck at this point.
 
KyloG said:
Well SPY and Q's both bouncing, they clear the .618 level and close above that then this little 3 day correction is over and it's back to ATH's.

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Yeah, easy to see. Nobody wants to see a market correction on their watch. It's the modern symbol of economic prosperity. Only way the Fed ever gets hawkish is if something else starts chewing up everything, like inflation, where enough people feel enough pain to bring out the pitchforks. Until then, it's QE to infinity.
 
Rain Cold said:
Yeah, easy to see. Nobody wants to see a market correction on their watch. It's the modern symbol of economic prosperity. Only way the Fed ever gets hawkish is if something else starts chewing up everything, like inflation, where enough people feel enough pain to bring out the pitchforks. Until then, it's QE to infinity.
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Yep, agree 100%. They keep kicking the can down the road hoping something comes up so they don't have to taper or raise rates. We are so screwed as a country if something happens and we need some sort of help from the Fed. When they unwind these bond purchases the pain is going to be unreal.
 
Thought this former Fed gov spelled it out...one of the questions was what is it going to take to raise rates, his response "rationale thinking". ?

 
This is why you buy those manic sell offs in crypto. So many are up 25-30% off lows today. LUNA was another dip buy last night. Crypto is so popular because of these type moves, it happens every other day in any number of holdings. It’s not because the majority of people believe in decentralization it’s the wild swings. Haven’t closed Eth or Luna, just raised stops on both…let runners run.

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It's a good day to provide an opinion about the fed funds rate (even if we haven't gotten to talking about this), so I'll provide another one, haha:

Unless the house is cleaned out and a different perspective is brought to the table, the fed funds rates that you used to see pre-GFC aren't going to come back. If we're lucky, you might see a 2% fed funds rate by like 2025, but I'm doubtful here. My guess is if they're even able to start, they stop for a reason that we'll know later at like 1-1.25%.

I am too young to really remember those rates, but I'll acknowledge it, the fact that I feel it's unlikely that you'll ever see a decent fed funds rate ever again is just a crappy situation.

Now, if you somehow do see the house cleaned out and somebody decides that inflation needs to be fought (as I'm not sure 2% would even do it), you could see a stock market crash based off fed funds rates. But is that going to happen? Unlikely.

That's why I kind of scoffed when I saw somebody ask what would happen if the fed funds rate was raised to 2% over the next few months at another place. Because that's not going to happen that fast, you're in luck if we even get to 2% over a period of time.
 
YETI is a long term hold for me. Slow mover but chart looks good.

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no wonder banks are up but why is tech up too ?

10yr breakout

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