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Misc Stock Market

Hate this market...you either carried risk over a holiday weekend or you chased the morning gap up. After the first 30 mins the high for the day was put in and chopped/faded the rest of the day. We will get the same crap tomorrow...we have to guess whether it's a big gap up or big gap down. I only made that one Tesla short trade today. Nothing looks compelling short or long.


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NQ $11670 level was support back in May...now resistance. Level to watch if we can get a close over that level.

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Only trade was 300 shares of NVDA at $164.40. It's showing relative weakness but I can't find a reason. Meh...stop at $163.80.

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Stopped out of NVDA.

Tricky area on NQ...$11680'ish. Was support in May and have now been rejected 4 out of past 5 days.

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$TSLA looks so vulnerable...Elon been talking about how much money Giga Berlin/Austin is losing. Shanghai shutting down again. Nothing but bad news. Retail loves this name, its such a momo stock.

Really looks like $450-$500 is coming.

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Another big gap up...they faded things hard into the close and now bid it up overnight. Just terrible.

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They bid it up right into what's been tough resistance. But, it has made higher lows 4 days in a row now. So maybe it gets through...

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Not sure why semi's are so weak but went back to NVDA today...picked up on that trendline tag at $159.80 and sold it all into $162.40.

Really looks like Q's could take out $385 and SPY $378.

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Market still likes those high multiple "growth" stocks...SNOW had fairly mediocre earnings, guided down but now is up 30% from it's earnings low.

Burns a ton of cash, valuation still really high...not interested.

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Either semis start making a recovery or market falls. Why I keep trying NVDA. Something got to give. Only the one trade today…

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Not directly stock related, but it is definitely stock related....has anyone heard about the diesel engine oil shortage coming due to the additive manufacturers going down? Apparently there's only 2 manufacturers of diesel oil additives and they're both not going to produce anymore. This is actually a huge deal.
 
Apple reclaimed $138 yesterday…at $140 pre market. Another big gap up in the markets. Tough to be bearish right now. I don’t have anything on…tired of all these big gap ups and downs.


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FOMO is for real....big gap downs last week when the worry was inflation/rate hikes and now nobody cares.

Still have nothing on...not chasing this.

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NVDA did hit my buy order of $163.50....mentioned yesterday, that either chip stock start moving up or Q/SPY start dropping. Everybody wins in this market. I closed this at $165.50. No desire to hold any position long.

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Kick myself for not having something on for META. Nice falling wedge explosion...

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Had qqq 290 calls for today sold them up 210 percent . I'm sure it will close above 293 now


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Q's with a almost 5% rip from yesterday afternoon. This inflation thing is so bullish I guess...

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SPY with a nice flag...no pullback. Energy/Tech/Financials all super strong. Bear market over in t-minus 10.

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Uh oh...maybe they just want it pinned to $140 today...but market rally continuation going to be tough if Apple vomits.

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Everyone looking at the same charts and seeing Q's and SPY in a falling wedge. Q's is about 1% from it today but will be right at it at this level come Tuesday/Wednesday.

These falling wedges can be violent....and they won't make it easy. They won't break it up and out during the day, it will be some crazy gap up that you will have to chase.

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Oscillators been consistent with wild oversold to overbought...we are in a unwinding parabolic market and parabolic markets don't move sideways, it's either straight up or straight down. Markets tried to consolidate in early June and the bottom fell out.

SPX osc almost hit -120 last week...fairly dumb we didn't load up on calls but this market is so tough.

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I do think this rally can last a while longer...previous oversold rallies were 12/18/13% give or take. I wouldn't be surprised to see this one hit 15-20%. Which would take the Q's up to $315-$320 area.

If we can get a couple of inside days next week I might be more active in swing trading. I am 100% invested in QQQ in my primary long term IRA...I have buys in at $320, $300, $280 and then the last 15% went in at $275. If Q's hits $320 I will probably trim 20-25%.


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