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Misc Stock Market

Bought some FB today. Has given up almost 4 years of gains. It’s a cash machine. Everyone is doubting Zuck but maybe he’s right with this whole metaverse thing. ?‍♂️

Extremely oversold…

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Watching SPY for a breakout of that resistance line. CPI on Thursday…as long as it’s not even more ridiculously high I think market rallies. Big if though…

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Watching SPY for a breakout of that resistance line. CPI on Thursday…as long as it’s not even more ridiculously high I think market rallies. Big if though…

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ES futs broke through that trendline resistance...let's see if this is an epic bull trap or the real deal.

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The bond rout last week was so bad that my dad noticed and said that the bond rout hit him more than the stock rout on Thursday.

Maybe we're close to some mean reversion? Because that was the first time I can remember him commenting about a bond selloff.

Now that I put this down, I'm sure that we're about to see CPI print an 8 handle and get another stock/bond rout tomorrow...
 
The bond rout last week was so bad that my dad noticed and said that the bond rout hit him more than the stock rout on Thursday.

Maybe we're close to some mean reversion? Because that was the first time I can remember him commenting about a bond selloff.

Now that I put this down, I'm sure that we're about to see CPI print an 8 handle and get another stock/bond rout tomorrow...
Going to take the opposite view here and make some money! :D

Stocks had their correction. Time for liftoff!
 
IWM fought back and is back in the channel...

Weekly chart...tough to chase here but...

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IWM fought back and is back in the channel...

Weekly chart...tough to chase here but...

Eh, it's splitting hairs a bit, but I think it needs a bit more.

2080 was the bounce spot several times before the Russell broke down. If it can close above to end this week and hold, it's possible it made an important low, and I would have not thought that there'd be any chance of that.

Maybe that's going to happen. It correlates with crypto a bit, and crypto has held up well lately, which was something that I found interesting on Friday, as that doesn't correlate with risk is off. People want it to separate from stocks, but it often trades with hypergrowth stocks...
 
Bought some FB today. Has given up almost 4 years of gains. It’s a cash machine. Everyone is doubting Zuck but maybe he’s right with this whole metaverse thing. ?‍♂️

Extremely oversold…

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This worked...picked up around $217 yesterday...just sold some at $229.5. It looks good, probably should have just held.


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Added back some $FB this morning at $228. Added back what I sold yesterday at $229...which was dumb. Still looks like it wants to go up. Has a huge gap up above....

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Added back some $FB this morning at $228. Added back what I sold yesterday at $229...which was dumb. Still looks like it wants to go up. Has a huge gap up above....

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I was jealous of those 219s you got been accumulating this one a bit too. Trying to decide if this is a long hold for me.
 
Added back some $FB this morning at $228. Added back what I sold yesterday at $229...which was dumb. Still looks like it wants to go up. Has a huge gap up above....

That gap and the NFLX gap is going to remain unfilled for a long time most likely. They were breakaway gaps, and you have a lot of funds stuck in there that likely want out and are willing to do so at a loss.

That doesn't mean that it can't go higher now...I'm hoping that it does so I can dump my bags for less of a loss. -.-

Maybe it can get to $270 within the next couple weeks. If it does, I'm bailing for sure as I can easily envision a BABA like deal this year.

In other news, the Fed might have no choice but to do 50 bps next month and they were trying to walk that back as recently as 24 hours ago through Bostic and Mester. The 2 year looks like it did not respond yesterday, and I don't think it's going to respond anymore to them trying to jawbone.
 
IWM with what looks like a rising wedge but looks strong...if it gets through $209

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I was jealous of those 219s you got been accumulating this one a bit too. Trying to decide if this is a long hold for me.

$FB I think tests $248 soon but I think it probes into the gap in the coming months. It's very cheap...relative...they are a cash machine.

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