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Misc Stock Market

I think someone on here mentioned RECAF way back. Been holding patiently and they found evidence of oil on first drilling. I'm up 131%, most of it from big moves yesterday and today. Hopefully just the beginning on this one. Big boom/bust potential. Making up for that MCOA carnage lol...
 
GeorgiaGirl said:
I’m guessing tomorrow will be a down day in SPX, as that’s been a part of this pattern since November (OPEX Friday=automatic down).
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[X]

When you're hot you're hot...

I still think that the post options expiring pullback is coming but I wonder if this is another hint that the options yolo fever was just officially wrecked for good after what happened from mid-February to early March. Because we saw a fair bit more than I thought we would.
 
Most of the large cap tech/growth stocks pulled back to their 30w moving averages and some even go their 50w. Now it’s the small caps turn.

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In late March both $CELH and $MWK reclaimed their 8dma and I was going back and forth on which one to go with. I choose MWK as they are seeing great growth and had more reasonable valuation. Needles to say...I chose wrong. ?

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I've had my best 30 days since I think last August or last April but I've given back about 20% of that staying aggressive. But, I've closed many positions end of last week and today, so sitting in roughly 70% cash. Going to take a breather.

I actually picked up UVXY at $4.60 this morning as a small hedge.
 
The Russell 2000...

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If you don't get the joke, it's one I picked up on from another forum. Finnish flag=finished.
 
Netflix has usually gotten dumped on earnings, which is why January 19th-20th completely shocked me. I expected the same, instead we saw the opposite and saw a bunch of other stocks react positively at the same time.

The latter happening is new (edit: other stocks reacting at the same time) as I seem to remember that not happening last summer or in the fall.

I wouldn't consider it to be an indicator of the incoming earnings either, the incoming ones are still a coin flip reaction wise (which is why I find the other stocks reacting deal to be odd, but in the case of January 20th...I mean...thanks...lol).
 
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I do not understand the desire to call for an end of a trend given this year’s tendencies so far, including soft back halves of the month after options expire (well, I do if you want to talk smack, but otherwise...).

Having said that, the Dow and S&P are likely both done as of Monday for now. They had an amazing 6 weeks and will likely need to take some time to consolidate, the odds of a crash aren’t very good given history (apparently bull markets haven’t topped in the April-July time period).
 
Just a big short cover with small caps and bio's...or is this a start of a reversal....

I've been long $IBB and it's finally looks like it could do something.
 
I have my doubts given what I've been observing for over a month now but if the .IXIC side of the Nasdaq is going to start leading from time to time, it'll be nighty night for bears in here for an unknown time period.

But I do wonder if whether today was short covering in a name like OPEN for example. As a name like that has gotten beaten to death and I don't think really even bounced while the Nasdaq was busy putting up 3 straight good weeks. But then today...it's up 11.4%...why?
 
GeorgiaGirl said:
I have my doubts given what I've been observing for over a month now but if the .IXIC side of the Nasdaq is going to start leading from time to time, it'll be nighty night for bears in here for an unknown time period.

But I do wonder if whether today was short covering in a name like OPEN for example. As a name like that has gotten beaten to death and I don't think really even bounced while the Nasdaq was busy putting up 3 straight good weeks. But then today...it's up 11.4%...why?
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Seems like everything was up 10% today. Some will follow through tomorrow...some won’t
 
GeorgiaGirl said:
I have my doubts given what I've been observing for over a month now but if the .IXIC side of the Nasdaq is going to start leading from time to time, it'll be nighty night for bears in here for an unknown time period.

But I do wonder if whether today was short covering in a name like OPEN for example. As a name like that has gotten beaten to death and I don't think really even bounced while the Nasdaq was busy putting up 3 straight good weeks. But then today...it's up 11.4%...why?
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Same with SKLZ. It can’t just be Cathie Wood buying. Lol.


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Jimmy Hypocracy said:
Small caps turning bullish again
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It's hard to take the bearish position over any length of time in equities. There is an active, though not disclosed, strategy underway to keep equities elevated. Yes, there has been retail herd mentality at work, but that is not what I mean.

It is critically important for the economy, or so it is believed, for stocks to move higher. Until that belief changes, bear markets will be hard to come by at best or short-lived at worst.

Everybody is scratching their heads and talking about valuations and looking at technical indicators and so forth and wondering when the turn will come. And they're missing the easy answer: It won't until "they" are ready. One day, they will be. But there is no way to know that information.
 
Can someone with a big brain explain to me how an increase in capital gains would impact markets outside of a quick knee jerk reaction? Those big PP millionaires are still going to invest there money even if they are paying additional tax right? It's better than just letting your money sit in a bank account and earn nothing.
 
Broken024 said:
Can someone with a big brain explain to me how an increase in capital gains would impact markets outside of a quick knee jerk reaction? Those big PP millionaires are still going to invest there money even if they are paying additional tax right? It's better than just letting your money sit in a bank account and earn nothing.
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I give it very little to no chance that you see this pass in the form that's been proposed anyway and it likely won't be just Manchin that blocks it either on the democratic side (it will likely be him that speaks out, but I suspect guys like Mark Kelly for example will be a no to this). I suspect it'll be raised, but not as much.

To be honest I don't even know what the capital gains tax is right now on the rich. 25-30% is fair imo. If what is being proposed is 43%...uh...what? It has no chance.
 
I got a bit ahead of myself mentally given the general movement we've seen for 2021. I'm guessing tomorrow will be a bounce (and it could be a major one if you do see Manchin or another democrat in the senate say they're not voting for this), but you're going to see at least a 3% move lower in the S&P from 4191 and probably 33k in the Dow next week imo.

And if it's more of the same of 2021, that will be it, but a deeper retracement is definitely overdue.

But I'm still sad, like I was sad after the "stimulus talks are off" deal in early October. I was enjoying how the Nasdaq was doing and thinking that it is affirming that it has it again (not that it hasn't shown that already), then this happens.
 
GeorgiaGirl said:
I got a bit ahead of myself mentally given the general movement we've seen for 2021. I'm guessing tomorrow will be a bounce (and it could be a major one if you do see Manchin or another democrat in the senate say they're not voting for this), but you're going to see at least a 3% move lower in the S&P from 4191 and probably 33k in the Dow next week imo.

And if it's more of the same of 2021, that will be it, but a deeper retracement is definitely overdue.

But I'm still sad, like I was sad after the "stimulus talks are off" deal in early October. I was enjoying how the Nasdaq was doing and thinking that it is affirming that it has it again (not that it hasn't shown that already), then this happens.
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People forget if it’s not passed he can say at least he tried. Many in the finance world says highly unlikely. Maybe another bill with a % closer tor he 30% mark will pass instead. Who knows but it seems kinda knee jerk right now, and bounced pretty well today considering the news. Oh yeah and Democrats hold wealth also. Lol
 
drfranklin said:
BTC just dipped below 50K
altcoins weak, except for ETH
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Good! It’s pretty bubbly now and we are due a dip. I love crypto but it’s just been outrageous this year and needs to cool off, for its own sake! We just aren’t there yet.
 
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