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Misc Stock Market

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Q's failed to reclaim all of weekly ema's, like it did in March. Also, that $13580 level was rejected hard in late April, early May. A weekly close below that $12960 ($13k) would be bad, it should test that at the least, which is only 2% down. I always thought Sept could be rough, but thought market would stay strong to close out August.

It's a split camp, some think we are making new lows to close out 2022, but I think we are going higher Q4 into mid-terms. But, I definitely have a bull bias.

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ES tagged that long running trendlilne resistance and rejected. A test of $4100 area make sense.

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Osc went from over bought to over sold in a hurry. This market is so manic, it’s either straight up or straight down. Trades like a meme stock.

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Added a few longs here on this...they love to push it below prior days low and then rip it up to clear out stops. Let's see....tight stops today, no fomo right now.

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OXY been absolutely great, been trimming into strength Friday and added back yesterday and trimmed more today. This has really saved me this past week.

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AMD one of my swings from low $92.44. Trimmed into $94 and added back mid $93's.

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This was a big winner for me last year and haven't gone back to it. Just been staring at it for some dumb reason.

People love their drinks, performance, high caffeine.

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Still don’t know why AMC did this…unless it’s just to entice the retail mob. ?‍♂️

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Added some $GOOGL this morning at $113.90. Inverted hammer off a waterfall downtrend.

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KyloG said:
Added some $GOOGL this morning at $113.90. Inverted hammer off a waterfall downtrend.

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google been solid today. Added fairly aggressively on the that first 5 min candle that hunted stop losses. Many tech charts look like this, trying to reverse. I am carrying OXY, AMD, Google, AMZN and some Q's calls for Friday.

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NVDA with just horrific earnings and even worse guidance. $450B market cap, trading at over 20x sales with neg growth for next quarter and rapidly declining revenue. Share price is $170…should be sub $70. But retail will buy any dip and keep it up there.

 
AMD one of the better looking chart, nice cup/handle. Still holding a large position in my long term account and swinging shares.

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I can actually produce a decent reason why NVDA isn't acting as a drag at least right now (and maybe not for today at all):

Long term holders knew the earnings would be bad because of the warning issued, so it was hedged. Look at how it's doing in comparison with Salesforce, where there was no warning on guidance...(in fairness, the warning from NVDA had to happen, because that 100% was drop 15-20% in one day caliber if it didn't occur).

I'm not sure I can produce the post that shows this off on Twitter though (which is where I saw it yesterday).
 
KyloG said:
NVDA with just horrific earnings and even worse guidance. $450B market cap, trading at over 20x sales with neg growth for next quarter and rapidly declining revenue. Share price is $170…should be sub $70. But retail will buy any dip and keep it up there.

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Like I said...retail will buy any and every dip. NVDA has no business trading at this valuation but it's a different world, earnings don't really matter.

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