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Misc Stock Market

Still not trading very much...big gap up after a very bearish week. We gapped up into a big gap, gaps everywhere.

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Consumer confidence came in lower, PMI worse, inflation numbers have been much worse so far in 2023. Market hanging in there...NVDA/TSLA the king of the retail meme stocks are both up 80%/100% respectively. Not sure what, if anything, will push this market back to the lows. Q's still up 12% on the year.

I don't have much confidence in market going higher and hard to short in this market. Sitting on my hands for now.
 
SPX diamond pattern formation... usually precedes huge moves. It's really hard to be bullish right now but market isn't falling, next CPI release is 3/14 so maybe very choppy couple of weeks.

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AMD still my largest holding in my IRA. Looking good.

I did buy some Q's this morning on the gap fill at $292.30.

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Broken024 said:
From now on I will just blindly follow what ever you do. Please post every move you make. The tendies will be sweet
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Haha...i miss alot too.

But, this pattern looks good it's just the macro news has really sucked lately so it was looking for anything to rally and I think Bostic came out talking about pausing this summer yesterday and that's all it needed. Sure looks like Q's $310 is coming next couple of weeks.

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KyloG said:
Haha...i miss alot too.

But, this pattern looks good it's just the macro news has really sucked lately so it was looking for anything to rally and I think Bostic came out talking about pausing this summer yesterday and that's all it needed. Sure looks like Q's $310 is coming next couple of weeks.

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I'm taking this as financial advice and going all in. If it fails I trust you will take in my wife and kids as your own.
 
Perfect tag of trendline resistance on the Q's. That's a 5-6% move in just over 2 trading days. I closed all my swing longs, including my SPY calls. Flat for now and will watch. This is day 3 up in the markets...wouldn't surprise me if market going higher but I'm not chasing.

Yields have all turned positive too.

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Trendline was a hard rejection. Megaphone patterns is so tricky. Gap fill to $299-$300 would be a target for me to hop back in....otherwise not chasing even here.

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10yr with a big bottom candle...tough to get equities to rally when yields are moving like this.

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Yikes...glad I got out this morning. Faily ugly daily...would like to see a down open tomorrow...$299 level is a level I might buy back in at.

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severestorm said:
looks like it's going to go up

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I guess we shouldn't be surprised...demand had fallen off, prices dropped rapidly so people that were waiting hopped in...like me. I expect prices to continue to fall over the coming months.
 
KyloG said:
I guess we shouldn't be surprised...demand had fallen off, prices dropped rapidly so people that were waiting hopped in...like me. I expect prices to continue to fall over the coming months.
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Demand hasn't fallen lately. It's increased. labor differential's increasing again. This isn't good for FED rate outlooks.

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severestorm said:
Demand hasn't fallen lately. It's increased. labor differential's increasing again. This isn't good for FED rate outlooks.

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Many retired after the historic bull market run since 2009/10, millenials/gen z'ers aren't filling those jobs. They can't really control that unless they drive our country into a depression.

I have a niece and a nephew that graduated from great colleges with great high paying degrees and both wanted to take a year off before looking for a real job. They are both slinging coffee and just coasting by...the mindset of these groups is so different. Both could be making well over 6 figures...they just don't care.
 
KyloG said:
Many retired after the historic bull market run since 2009/10, millenials/gen z'ers aren't filling those jobs. They can't really control that unless they drive our country into a depression.

I have a niece and a nephew that graduated from great colleges with great high paying degrees and both wanted to take a year off before looking for a real job. They are both slinging coffee and just coasting by...the mindset of these groups is so different. Both could be making well over 6 figures...they just don't care.
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It's really sad because that greenlights so many work visas and when they finally realize what's happening, the jobs will already be offshored to STEM hubs like India. I seen it happen personally.
 
severestorm said:
It's really sad because that greenlights so many work visas and when they finally realize what's happening, the jobs will already be offshored to STEM hubs like India. I seen it happen personally.
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Tech tried that 15+ years ago and it didn't work. What happened was they would train up engineering in India, pay them pennies, then the engineers would quit for a higher paying job.
 
Really tough past couple of days...nothing but lower lows.

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KyloG said:
Tech tried that 15+ years ago and it didn't work. What happened was they would train up engineering in India, pay them pennies, then the engineers would quit for a higher paying job.
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I worked for one of the biggest Indian tech firms. I know what i'm talking about.
 
2 trades today...$TSLA at $186.20...was easy support to buy. Trimmed alot into $191 and now added back some past hour. Stop raised to $188.44.

Also, Q's at 297.7, stop LOD.

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$TSLA - boom. Been one of my biggest swings of the year, mainly from lack of trading.

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Closed my longs when SPY broke $399.5. Good day but boy this got ugly quick. Very big candle.

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Waiting for this to resolve, not chasing here...market is in total screw everyone mode. Really looked like it was about rollover this morning and they bid it back up.

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$NVDA.- everyone is watching this to rollover...it's valuation is very high, 20x sales, $600B market cap with several quarters in a row now of declining revenue. It makes no sense for it to be trading this high, I don't get it. But, so many shorts are in it and they won't let it roll.

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NVDA is now an AI stock. At least their CEO, which is very good at marketing their stock, pivots faster into different areas than any other CEO I have seen. BTW i'm not buying the hype either
 
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