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Misc Stock Market

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KyloG said:
Markets real heavy after the China Evergrande news...couple that with the inflation reports its getting ugly.

Tech has been trading in this channel for past year+...each time it's touched the top of that channel it's sold off hard to the bottom....we shall see if it bucks the trend this time.

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That's another version of the channel that I was thinking about when I saw somebody claim that we have entered a dot.com like bubble rise. I didn't actually reply to them (thought about it though), but I was thinking whoa, slow your roll, NDX has not broken the channel it's been in.

As bad as that inflation reading was, it was either that garbage 30 year bond auction or the Evergrande news that actually set off what happened this afternoon. And the thing is, that Evergrande news might not be truthful. That German site that leaked it is sketchy to me. What is true though is China's real estate market is a mess and they are likely to see an economic slowdown due to it.

And that's well known, so honestly, I'll probably take the side of the bond auction being the trigger.

It sounds as if China is trying to quietly take apart Evergrande and somebody leaked something they shouldn't have btw.
 
GeorgiaGirl said:
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That's another version of the channel that I was thinking about when I saw somebody claim that we have entered a dot.com like bubble rise. I didn't actually reply to them (thought about it though), but I was thinking whoa, slow your roll, NDX has not broken the channel it's been in.

As bad as that inflation reading was, it was either that garbage 30 year bond auction or the Evergrande news that actually set off what happened this afternoon. And the thing is, that Evergrande news might not be truthful. That German site that leaked it is sketchy to me. What is true though is China's real estate market is a mess and they are likely to see an economic slowdown due to it.

And that's well known, so honestly, I'll probably take the side of the bond auction being the trigger.

It sounds as if China is trying to quietly take apart Evergrande and somebody leaked something they shouldn't have btw.
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I agree about China/Evergrande. They are going to try and unravel that slowly/quietly. It's a big risk for sure.
 
IWM is interesting...clear breakout, with volume. A back test of $234-$235 would be bullish still but if it falls back in the channel then that would suck. But, even if it does fall back in I think it does break out again.

I closed out my IWM in the low $240's last week but will jump back in at $235'ish.

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Anybody on RIVN yet? Was letting the IPO play out a bit trying to identify my first entry maybe around mid 90s or so.
 
KyloG said:
If you started investing/trading after 2010 all you know is that markets/stocks only go up and to buy any dip with both hands. Old guys like me (45) lost a lot of money in dotcom crash and financial crisis. That's why these young bucks are kicking our butts in returns, they have no fear and always keep buying buying buying. Experience is a detriment right now...
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Good post. I can relate to getting nuked on a stock or two. That ---- sticks with you. Nearly impossible to shake. Father in law got burnt years ago and hasn’t been the same since either.
 
VegasEagle said:
I win!!! Lol more like I wish View attachment 94782
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Can you just give me $1,000,000? I'd be happy with that. I don't deserve it, but in case you ever decide to give a random weather board friend some dough, I thought I'd throw my name in the hat. ?
 
Rain Cold said:
Can you just give me $1,000,000? I'd be happy with that. I don't deserve it, but in case you ever decide to give a random weather board friend some dough, I thought I'd throw my name in the hat. ?
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Nope, you get $10,000,000..... have you seen the prices of things?
 
IWM building nicely. Added back some this week. Really want that 20dema to catch up but I don't think it will...people just like buying more than selling.


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Lot of folks pointing to how overextended the weekly charts via the bollinger bands. Past history says this when this happens we get a sharp sell off. So far that hasn't happened.

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IWM looks good. Broke below that little trendline but then reclaimed and took out yesterday's low.

4hr chart. I added more through $237 and stop at today's low.

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I think the Russell 2000 is going to test its old ATH, I'm not a fan of the way non-tech (outside of some consumer discretionary) traded yesterday. Tried to rally and got squashed and the squashing is carrying over so far.

I think it'll bounce there, but if not, then I've heard that the bulls have the ball as far as 2310.
 
Well this didn't work...got stopped out. Macd cross and now needs a few days to base.
 

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Imagine being bearish and catching a break since the Austrian lockdown news moved things a lot, but you're short on the Nasdaq which has absolutely lost it.

More seriously, I'm not a fan of the way the market has trended since about 2 PM on Tuesday. Possible that tech is just letting other parts of the market rest, but then it's also possible that tech gets sold and you still get more selling from the other parts of the market.
 
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