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Misc Stock Market

This market. ?

Sold all of VUZI at $14 from roughly $10 avg. probably going higher but it’s enough for me

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You would think that this move by TSLA would mean that SPX and NDX was able to trade the records they set in futures...but that answer is no because a lot of the big guns in the NDX had issues today (and I just checked and I do believe the final push didn't do it here in NDX)...and in the case of at least one of them, if not two, I'm suspicious that a long/short fund that was long Google/and maybe Amazon and short TSLA got caught with their pants down on TSLA.

Like Google has been acting poorly outside of a few days for a while...but it usually only does something like this on a price downgrade or news...yet there was nothing...the weird thing is that apparently options didn't really move on this move...at least I have some small cap exposure for today (although most not in the account that I hold Google).
 
Haha…should have held VUZI for about 20 mins more. ?‍♂️

this market is so insane



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Missed XBI again. Was looking at it Friday and lost track of it but It’s running

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Man alt season is going to be fire . She's ready to blow . Gonna be a wild 4-8 weeks
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It's becoming very difficult to stay fully invested in this market....this isn't normal but has been happening again and again since covid. The piper will have to be paid for this at some point...

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$IWM still looks great, rejected past couple of days at ATH...$234.5. Would really like one more pullback to $230'ish. Typically these will give a head fake breakout only to breakout a few days later.

Measure move says $260 is the target if it can breakout. Unless the Fed just pees in our cornflakes tomorrow I think that happens.

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Storm5 said:
Man alt season is going to be fire . She's ready to blow . Gonna be a wild 4-8 weeks
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Sent from my iPhone using Tapatalk
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There are so many nice looking patterns in the little guys. I like $LINKUSD and $ATOMUSD, those are my bigger positions. I had $QNT but that didn't work and cost me money. I don't know enough of the details on any of these, just trading the charts.

$SOLUSD looks like it's about to breakout to ATH's...I had it from $160'ish and got stopped out when it gave up $200 last week and never went back to it.
 
KyloG said:
Zillow with just a disaster of earnings. Down 20% on the day.

www.marketwatch.com

Zillow to stop flipping homes for good as it stands to lose more than $550 million, will lay off a quarter of staff

Zillow Group Inc. is calling it quits on the home-flipping business, while disclosing losses of more than $550 million on homes purchased in the second half...
www.marketwatch.com www.marketwatch.com
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I knew that business model was suspect. Basically blindly buying homes from people in hopes of reselling for small profit. Hard to do that on a large scale.
 
I think IWM is only up as much as it is because the meme stocks have skyrocketed today.

I would certainly not characterize this behavior as risk off caliber behavior, but it does make me nervous. Gonna stick with my plan though with small caps.
 
So, my guess would be that the Fed will announce tapering today at or near the rate that they projected in the minutes that we saw for September. Also wouldn't be surprised if the "transitory inflation" narrative is laid aside for some different wording.

Market won't like that, but the initial move will turn out to be wrong by next week.

Had we not had the rally that we had, I would've actually been on the side of a surprise rally off the tapering announcement...but the S&P being up more than 7% since early last month and the VIX being in the mid-teens makes me think pullback even if you don't see something truly surprising (like a hard stop to QE). Just temporary though.

Edit: Or maybe we're just going to see what we normally have during FOMC meetings, pop and then drop after Powell is done speaking. Seen this script too many times...I'm frankly dubious that the S&P stays positive...if it does stay in positive territory, it probably won't be as high as it is now.
 
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www.newsbreakapp.com

Fed pulls back economic aid in face of rising uncertainties - NewsBreak

WASHINGTON (AP) — If you find the current economy a bit confusing, don’t worry: So does the nation’s top economic official, Federal Reserve Chair Jerome Powell. At a highly anticipated news conference Wednesday, Powell said the Fed was sticking by its bedrock economic forecast: COVID-19 will...
www.newsbreakapp.com www.newsbreakapp.com
 
Market straight up. We’ve seen some parabolic runs in the market past 18 months but you would still get a red day here or there in those runs. Not now…no red days anymore.


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KyloG said:
Market straight up. We’ve seen some parabolic runs in the market past 18 months but you would still get a red day here or there in those runs. Not now…no red days anymore.


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I keep telling my self if there is one more green day to buy spy puts but I don't have the balls. It just doesn't stop.
 
Been neck deep in IWM for several weeks now. Finally took some off today at $239.50. I think this goes higher but it needs a rest day or two. Will add back if it retests $234-$235.


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It's only one day, but TNX being "lower" the day after the Fed officially announces tapering is kind of perfect. LOL!

I do think it's going higher eventually (2% sometime in the first few months of next year), but it appears that there are still too many people on that side.
 
Not even surprised about this anymore....we got market indexes straight vertical for 3+ weeks straight

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$NVDA - $750B market cap and reported $6B in quarterly revenue last earnings. I sold a lot of positions today, back to 80% cash.

Options market is driving all of this...gamma squeeze, but they can't keep it up forever.

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KyloG said:
Been neck deep in IWM for several weeks now. Finally took some off today at $239.50. I think this goes higher but it needs a rest day or two. Will add back if it retests $234-$235.


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IWM starting to give it up. I sold more this AM and have 20% left. I still like to end the year.

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What in the world...this 6th most valuable company in the US that only delivers $6B in quarterly revenue. $750B market cap.

How can any rationale investor buy this at these levels. It's priced like it's already beat earnings over the next 5 years.

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Just closed a position I have in LRCX. It might be able to continue higher but I'm not doing this again with both LRCX and AMAT on another round trip with the semiconductor sector (if LRCX continues, then AMAT most likely will, which I didn't close), and the way NVDA is acting has me concerned about semis reversing.
 
NDX has me concerned about a blowoff top but this says that I maybe shouldn't be:

CyclesFan on Twitter: "$NDX reached the 1.5 extension of the September correction today. It's up 9 days in a row now. The last 3 times that happened were streaks of 10-12 TD and all of them were months before any IT top. Tomorrow is NFP Friday so the target is obviously the 1.618 extension at 16514. https://t.co/56IkO08lsy" / Twitter

It needs to cool off though. I don't even want anything crazy, -3% would suffice before continuation.

You could say that for everything right now honestly.
 
Not sure we are ever going to see another red candle...in our lifetimes. ?

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GeorgiaGirl said:
NDX has me concerned about a blowoff top but this says that I maybe shouldn't be:

CyclesFan on Twitter: "$NDX reached the 1.5 extension of the September correction today. It's up 9 days in a row now. The last 3 times that happened were streaks of 10-12 TD and all of them were months before any IT top. Tomorrow is NFP Friday so the target is obviously the 1.618 extension at 16514. https://t.co/56IkO08lsy" / Twitter

It needs to cool off though. I don't even want anything crazy, -3% would suffice before continuation.

You could say that for everything right now honestly.
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Will be interesting if this plays out as wave 5. It matches up with measured moved equal to wave 1....but that would mean mid-Nov into Dec would see a significant correction. I just don't see that happening. Fed said no rate raises for a long long time...the taper news is out of the way. Jobs are great. 10yr is dropping. PFE just had great news on their oral therapy for covid. It's nothing but great news all around.

Indexes are super extended but there is no compelling reason to sell now...VIX is really low at 15.

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The Fed announced tapering and we had a strong jobs report and TNX is going to close the week below 1.5.

Perfect...lmao. The opposite of what anybody would've expected. Calling for it to range for the rest of the year probably ends up being right.
 
KyloG said:
Will be interesting if this plays out as wave 5. It matches up with measured moved equal to wave 1....but that would mean mid-Nov into Dec would see a significant correction. I just don't see that happening. Fed said no rate raises for a long long time...the taper news is out of the way. Jobs are great. 10yr is dropping. PFE just had great news on their oral therapy for covid. It's nothing but great news all around.

Indexes are super extended but there is no compelling reason to sell now...VIX is really low at 15.

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I'm loving what's going on with TNX during the past couple days (as it's what you wouldn't expect) but to be fair, it's a bit more complicated than TNX falls and the market goes up. It's more about the speed the bond market moves at and it's moving a bit too fast for my liking, but I figure that if it doesn't break the high of the year and ranges mostly in between about around 1.4 (maybe 1.3) to 1.6 for the rest of the year, that's perfect...lmao.

Means that everyone that had TNX to 2% by end of the year is going to get it wrong (and there are a lot of people on that side, so it shouldn't surprise if that's the case).

Back on the main topic, it is interesting that you can count 5 waves on NDX (I don't do Elliot Wave, but I've seen others that do), but a more significant pullback doesn't make much sense here. A breather does and I want one before the blowoff top idea does make the most sense (frankly we're already close...lol).
 
GeorgiaGirl said:
I'm loving what's going on with TNX during the past couple days (as it's what you wouldn't expect) but to be fair, it's a bit more complicated than TNX falls and the market goes up. It's more about the speed the bond market moves at and it's moving a bit too fast for my liking, but I figure that if it doesn't break the high of the year and ranges mostly in between about around 1.4 (maybe 1.3) to 1.6 for the rest of the year, that's perfect...lmao.

Means that everyone that had TNX to 2% by end of the year is going to get it wrong (and there are a lot of people on that side, so it shouldn't surprise if that's the case).

Back on the main topic, it is interesting that you can count 5 waves on NDX (I don't do Elliot Wave, but I've seen others that do), but a more significant pullback doesn't make much sense here. A breather does and I want one before the blowoff top idea does make the most sense (frankly we're already close...lol).
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Bonds up and TNX down interesting…some must think economy/growth will be slowing. Market is parabolic ATH’s. Doesn’t quite align.
 
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