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Misc Stock Market

Broken024 said:
I want to buy puts so bad but the train seems unstoppable right now. Waiting for @KyloG to give me permission.
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I bought the dip this afternoon and thankfully got stopped out. I am still 60% cash. I have a feeling next few days will be very volatile. FOMC decision tomorrow and Apple earnings Thursday. SPX up 20% since Oct lows so feel like we are due for a prolonged pullback but I don’t short. I just get out of the way.
 
tech hammered over night...futs off lows but no desire to buy right now. With FOMC today and Apple tomorrow after close just going to wait patiently for direction. Most rationale people want some form of multi-week pullback but this market is manic and AI mania is driving everything higher.

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Fairly textbook island top on the Qs...but...nothing would surprise me on how this closes.

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Tech getting hammered and Tesla getting bought. Most of Jan tech been up and Tesla got hammered. The strangest stock...I guess other are selling the good ones and bidding up Tesla.

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Since the Oct low the Dow/SPY/Q's all are up roughly 20%. So it's not just tech performing.

QQQ-orange
DOW-dark blue
SPY-light blue

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6 days of gains gone just like that in the SPX. I have no fomo short or long. I am 70% cash right now...plan on staying there until I get a sense of direction.

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DWAC is very interesting...tried to break through $40 but rejected hard...I think $40 gives in another day or two. This is one on my radar for tomorrow.

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still waiting on watching the predatory moves. They took out the morning low and then yanked it up and took out the morning high. They are screwing with everyone right now.

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RoddyPiper said:
@KyloG ........what are your thoughts on Intel (INTC)?
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I like INTC but don't own them...I own a lot of AMD, my biggest holding but don't recommend you buy at today's prices. INTC is a lot like Cisco...great company, big, but stock is slow moving. Its done nothing for 6 years...its not best of breed anymore. I would rather just own SPX over INTC or a CSCO. But, that doesn't mean the stock isn't a buy and couldn't be at $70 in a few years, which is ATH's.

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KyloG said:
I like INTC but don't own them...I own a lot of AMD, my biggest holding but don't recommend you buy at today's prices. INTC is a lot like Cisco...great company, big, but stock is slow moving. Its done nothing for 6 years...its not best of breed anymore. I would rather just own SPX over INTC or a CSCO. But, that doesn't mean the stock isn't a buy and couldn't be at $70 in a few years, which is ATH's.

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Yea. I was looking at more short term. They are down around 13% since earnings report the other day....which wasn't all that bad, just not as good as the market expected. I feel like it was way oversold. Im in at $43.24 with a SL at $42.40 (came close earlier)
 
RoddyPiper said:
Yea. I was looking at more short term. They are down around 13% since earnings report the other day....which wasn't all that bad, just not as good as the market expected. I feel like it was way oversold. Im in at $43.24 with a SL at $42.40 (came close earlier)
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Nothing wrong with that...$41.18 should be support. But nothing wrong with tight stop of $42.40 either.

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Yesterday we were going into a recession, market was falling off a cliff and just like that SPX has erased almost all of yesterdays candle.

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KyloG said:
META getting taken to the woodshed after hours...and after looking at the earnings I don't it's down enough. Earnings were so bad and the bar was fairly low. It's trading at a 6 year low.
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This essentially was the bottom in META...the earnings at this point were god awful and stock had dropped from $380 to $90. It just blew out earnings today and is trading at $440....15 months after hitting $90.
 
KyloG said:
Yesterday we were going into a recession, market was falling off a cliff and just like that SPX has erased almost all of yesterdays candle.

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It felt like a fairly firm top was in for the Nasdaq, but with the S&P pulling this again off a large red candle, I’m not so sure.

Probably need to have one of these big red candles and have follow through on it before we declare this move from October 2023 over.
 
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