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Misc Stock Market

KyloG said:
I went full tilt after Costco today. I went heavy short yesterday and was up big, closed half before close. It was $435 in pre-market and I blinked and it was at ATH’s. Ended up closing the other half with small loss…net was a win but still very frustrated.

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Yeah these mega cap earnings selloffs a have been followed by rips. It’s really hard to wrap my head around. Goofy market.
 
Jimmy Hypocracy said:
Yeah these mega cap earnings selloffs a have been followed by rips. It’s really hard to wrap my head around. Goofy market.
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Market makers are propping up the indexes and the rotate to large caps to do it. Under the hood of this market is a lot of carnage. But, Apple, MSFT, Adobe, UNH, PEP, COST are literally keeping the market afloat. Never seen anything like this.
 
I didn't express it in here before it happened but I had a weird, specific feeling that the Nasdaq was going to get hammered after last week ended. It wasn't in bad shape, but what happened last week reminded me of mid-February before it started to really get hit hard, where it would get drilled and then rebound.

I now think that it's done getting hit though. If it's not done, it's close unless it's about to drop at least 8% again (from an ATH).

Value stocks on the other hand, while the Dow appears to have bounced off the 50 today, the action in value names suggests to me it has at least another 500+ points to drop. Maybe happening tomorrow.
 
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GeorgiaGirl said:
I didn't express it in here but I had a weird, specific feeling that the Nasdaq was going to get hammered after last week ended. It wasn't in bad shape, but what happened last week reminded me of mid-February before it started to really get hit hard, where it would get drilled and then rebound.

I now think that it's done getting hit though. If it's not done, it's close unless it's about to drop at least 8% again (from an ATH).

Value stocks on the other hand, while the Dow appears to have bounced off the 50 today, the action in value names suggests to me it has at least another 500+ points to drop. Maybe happening tomorrow.
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Hello
 
Inspired by comments on Reddit...lol...like I listen to them, especially considering that two of the replies that I got were from meme stock cultists (this has also been pointed out elsewhere):

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Expanding on the above, I know with May, there was a pullback before OPEX, even though OPEX week was also a down week. The reason why was because April CPI was an absolute blowout.

I do get the feeling that repeating June/July would be too obvious because at this point, a lot of things are lining up to where it looks way too much like those times. Perhaps Ms. Market is about to burn everybody that front ran the 50 day touch on Thursday, causing it to not happen in regular trading hours despite a volatile session. We'll see...
 
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I know, the range highlighted goes down to the low 33k's, but it has generally been in between 34k-35.2k for 3+ months now.

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GeorgiaGirl said:
The put that I sold was an AMAT $120 put at 1.90 that expires September 3rd and my only regret is that I didn't put the strike at 2 dollars. My hope is that the Nasdaq and semis reverse next week (I haven't expressed it but I had a weird feeling there after last week), but if not, I can take the assignment.
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Bought back at .4 today. Nice win for the first time doing this.

It's probably going to expire worthless but a profit is a profit.

Had no idea that the reversal was going to look like this. Kind of an absurd day. May be a little while before I can sell another but I'll do some looking around later tonight.
 
Broken024 said:
Hopefully not much lower. I'm short 2 $15 puts. Looked like free money at the time.
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Hell, I'm at a $17 average. I got in with the Spac before SOFI became sofi. Im long on it though, I think it's a great company that should be easily $25-$30.
 
Gopack42 said:
Hell, I'm at a $17 average. I got in with the Spac before SOFI became sofi. Im long on it though, I think it's a great company that should be easily $25-$30.
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Yea I was fine being assigned at 15... I still might get assigned 200 shares if it stays below 15 by 9/17. Should be close.

What do you like about sofi?
 
Broken024 said:
Yea I was fine being assigned at 15... I still might get assigned 200 shares if it stays below 15 by 9/17. Should be close.

What do you like about sofi?
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Management looks solid, Financials look good, and ....to be honest....I just like the concept and platform. Given time, I think it will do great.
 
Gopack42 said:
Management looks solid, Financials look good, and ....to be honest....I just like the concept and platform. Given time, I think it will do great.
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There are some real bargains in Fintech right now. I have more weight in paysafe due to their exposure to online gambling. Love my DraftKings!
 
One interesting hot sector are the shipping companies. I loaded up on ZIM, which I think is highly undervalued, as well as SBLK a few days ago. Both pay dividends as well and should do well through the end of the year at least.
 
snowlover91 said:
With a likely major cane in the GOM in 5-6 days, what are some good hurricane plays for a short term spike? @Jimmy Hypocracy you got any good ones?
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I think you watch where it's headed but I always consider energy down that way. Last year when Laura hit lake Charles and that chlorine facility wish I would of bought about 1000 pounds of tablets. Went up about 500+%.
 
SPY hasn't seen the 100dma in 10 months. The last time that happened...the 1990's and nothing has even come close since. What we are seeing is truly historic...one of the greatest bull market runs in our lifetimes. But, also believe that this is a ticking time bomb.

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From a bull point of view the indexes went 13 years (March 2000 to May 2013) before it made a new high. But now it's gotten ridiculous...though I am not complaining, my investments are way way up.

This bull market started in 2009 so it's been 12+ years, which is very lengthy bull run.

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KyloG said:
SPY hasn't seen the 100dma in 10 months. The last time that happened...the 1990's and nothing has even come close since. What we are seeing is truly historic...one of the greatest bull market runs in our lifetimes. But, also believe that this is a ticking time bomb.

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Yea I'm scared to leave my money in. But fomo is real.
 
Broken024 said:
Yea I'm scared to leave my money in. But fomo is real.
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Yep, many people feel that way. It's clear that JPowell and his QE is like gasoline on this fire and if/when he decides to start tapering it could get ugly. Also, they need to raise rates. That should have already been done as inflation is roaring right now.
 
KyloG said:
Yep, many people feel that way. It's clear that JPowell and his QE is like gasoline on this fire and if/when he decides to start tapering it could get ugly. Also, they need to raise rates. That should have already been done as inflation is roaring right now.
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Tell me the date it blows up? I'll send you a chipotle gift card ?
 
I picked up AMZN last week at $3190 as history says that when a great company, market leader dips below the 200dma that it almost always recovers.

Might not be immediate but so far it's up $100...which isn't saying much considering it's share price.

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$PINS is another dip buy this week...got absolutely hammered after earnings but it's earnings were solid and great growth. Guidance was light though...I added through $53. I think it tries to get to $60.

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$DKNG has been great, have owned this for several months at $50/avg so I was down 20% at it's lows. But it's fighting back...hit $60.

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$AMD has been great...another long term hold since around $60. It was in a big channel for the past year and finally broke out. The old rule of thumb that the depth of the channel will equal the breakout rang true. I sold alot at $115 area but added some back today at $107.

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KyloG said:
$PINS is another dip buy this week...got absolutely hammered after earnings but it's earnings were solid and great growth. Guidance was light though...I added through $53. I think it tries to get to $60.

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$36b market cap for pinterest is scary to me. Might be ok for a quick trade but my stupid job makes me hold 30 days.
 
Rain Cold said:
MVIS bleeding out. Going to end the day red at this rate after being up a buck and a half.
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Backtest?
KyloG said:
From a bull point of view the indexes went 13 years (March 2000 to May 2013) before it made a new high. But now it's gotten ridiculous...though I am not complaining, my investments are way way up.

This bull market started in 2009 so it's been 12+ years, which is very lengthy bull run.

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Ridiculous
 
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