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Misc Stock Market

Broken024 said:
I keep telling my self if there is one more green day to buy spy puts but I don't have the balls. It just doesn't stop.
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I don’t short much but I wouldn’t touch a short in anything in this market. Way to easy to make money long.
 
Been neck deep in IWM for several weeks now. Finally took some off today at $239.50. I think this goes higher but it needs a rest day or two. Will add back if it retests $234-$235.


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It's only one day, but TNX being "lower" the day after the Fed officially announces tapering is kind of perfect. LOL!

I do think it's going higher eventually (2% sometime in the first few months of next year), but it appears that there are still too many people on that side.
 
Not even surprised about this anymore....we got market indexes straight vertical for 3+ weeks straight

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$NVDA - $750B market cap and reported $6B in quarterly revenue last earnings. I sold a lot of positions today, back to 80% cash.

Options market is driving all of this...gamma squeeze, but they can't keep it up forever.

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KyloG said:
Been neck deep in IWM for several weeks now. Finally took some off today at $239.50. I think this goes higher but it needs a rest day or two. Will add back if it retests $234-$235.


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IWM starting to give it up. I sold more this AM and have 20% left. I still like to end the year.

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What in the world...this 6th most valuable company in the US that only delivers $6B in quarterly revenue. $750B market cap.

How can any rationale investor buy this at these levels. It's priced like it's already beat earnings over the next 5 years.

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Just closed a position I have in LRCX. It might be able to continue higher but I'm not doing this again with both LRCX and AMAT on another round trip with the semiconductor sector (if LRCX continues, then AMAT most likely will, which I didn't close), and the way NVDA is acting has me concerned about semis reversing.
 
NDX has me concerned about a blowoff top but this says that I maybe shouldn't be:

CyclesFan on Twitter: "$NDX reached the 1.5 extension of the September correction today. It's up 9 days in a row now. The last 3 times that happened were streaks of 10-12 TD and all of them were months before any IT top. Tomorrow is NFP Friday so the target is obviously the 1.618 extension at 16514. https://t.co/56IkO08lsy" / Twitter

It needs to cool off though. I don't even want anything crazy, -3% would suffice before continuation.

You could say that for everything right now honestly.
 
GeorgiaGirl said:
NDX has me concerned about a blowoff top but this says that I maybe shouldn't be:

CyclesFan on Twitter: "$NDX reached the 1.5 extension of the September correction today. It's up 9 days in a row now. The last 3 times that happened were streaks of 10-12 TD and all of them were months before any IT top. Tomorrow is NFP Friday so the target is obviously the 1.618 extension at 16514. https://t.co/56IkO08lsy" / Twitter

It needs to cool off though. I don't even want anything crazy, -3% would suffice before continuation.

You could say that for everything right now honestly.
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Will be interesting if this plays out as wave 5. It matches up with measured moved equal to wave 1....but that would mean mid-Nov into Dec would see a significant correction. I just don't see that happening. Fed said no rate raises for a long long time...the taper news is out of the way. Jobs are great. 10yr is dropping. PFE just had great news on their oral therapy for covid. It's nothing but great news all around.

Indexes are super extended but there is no compelling reason to sell now...VIX is really low at 15.

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The Fed announced tapering and we had a strong jobs report and TNX is going to close the week below 1.5.

Perfect...lmao. The opposite of what anybody would've expected. Calling for it to range for the rest of the year probably ends up being right.
 
KyloG said:
Will be interesting if this plays out as wave 5. It matches up with measured moved equal to wave 1....but that would mean mid-Nov into Dec would see a significant correction. I just don't see that happening. Fed said no rate raises for a long long time...the taper news is out of the way. Jobs are great. 10yr is dropping. PFE just had great news on their oral therapy for covid. It's nothing but great news all around.

Indexes are super extended but there is no compelling reason to sell now...VIX is really low at 15.

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I'm loving what's going on with TNX during the past couple days (as it's what you wouldn't expect) but to be fair, it's a bit more complicated than TNX falls and the market goes up. It's more about the speed the bond market moves at and it's moving a bit too fast for my liking, but I figure that if it doesn't break the high of the year and ranges mostly in between about around 1.4 (maybe 1.3) to 1.6 for the rest of the year, that's perfect...lmao.

Means that everyone that had TNX to 2% by end of the year is going to get it wrong (and there are a lot of people on that side, so it shouldn't surprise if that's the case).

Back on the main topic, it is interesting that you can count 5 waves on NDX (I don't do Elliot Wave, but I've seen others that do), but a more significant pullback doesn't make much sense here. A breather does and I want one before the blowoff top idea does make the most sense (frankly we're already close...lol).
 
GeorgiaGirl said:
I'm loving what's going on with TNX during the past couple days (as it's what you wouldn't expect) but to be fair, it's a bit more complicated than TNX falls and the market goes up. It's more about the speed the bond market moves at and it's moving a bit too fast for my liking, but I figure that if it doesn't break the high of the year and ranges mostly in between about around 1.4 (maybe 1.3) to 1.6 for the rest of the year, that's perfect...lmao.

Means that everyone that had TNX to 2% by end of the year is going to get it wrong (and there are a lot of people on that side, so it shouldn't surprise if that's the case).

Back on the main topic, it is interesting that you can count 5 waves on NDX (I don't do Elliot Wave, but I've seen others that do), but a more significant pullback doesn't make much sense here. A breather does and I want one before the blowoff top idea does make the most sense (frankly we're already close...lol).
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Bonds up and TNX down interesting…some must think economy/growth will be slowing. Market is parabolic ATH’s. Doesn’t quite align.
 
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