Bull market back on I guess. JOLTS was weak but market don’t care. Everything ripping. Swings are all working. I don’t ask why or how…they just give money away in this market when you buy dips. Ride it until it bucks you.
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Misc Stock Market
- Thread starter ForsythSnow
- Start date
Ouch
ADP weak this morning but market just keeps pushing higher. Ride it until it bucks you…
I don’t get it but I try not to dwell on it.
Large cap tech is so strong...this is typically a very bearish week and they are putting in some strong weekly candles.
tough to be bearish when you are looking at this...just a couple of strong names can keep things from rolling over
tough to be bearish when you are looking at this...just a couple of strong names can keep things from rolling over
GeorgiaGirl
Member
That might be a record close for the SPX, this is stronger than I was imagining when I said crisis averted lol.
Economy adds disappointing 22,000 jobs in August, jobs report shows. Unemployment rises
Employers added just 22,000 jobs in August as Trump's tariffs, federal layoffs and immigration crackdown posed risks for the labor market. Unemployment rose.
www.usatoday.com
Market is a complete clown show. July payrolls was revised negative. I imagine Aug will be too. I closed all my swings after open and raised more cash in my IRA. Still all cash in 401k. We are headed for big trouble.
packfan98
Moderator
Definitely seems like there might be a bubble that will pop or deflate down the road. For now, they are betting on rate cuts to keep the good times going.
broken025
Member
Yes, I don’t short in my IRA a whole lot but I bought a huge short position in SQQQ at $17.30. This market is so absurd. But…it always goes up so tricky.
Yeah, me too. This market is so nuts. But weak labor market is typically a catalyst for full blown bear marketI’m mostly cash now too. I’m usually wrong though so expect a full on
Nomanslandva
Member
In the end, it was sort of a meh down day. If my Nvidia and AMD would not have sacrificed for Broadcom It may have not been bad at all. I wish I would have looked harder at GOOG and AVGO when you guys (and girl) were talking about them earlier.
NCSNOW
Member
Find IAU for your 401K options. Up 45% over 12 months. I know I'm a broken record, but man Gold just keeps on going an going
Holy crap…NBIS. I sold half my NVDA at $177 a couple weeks ago and replaced it with NBIS at $66…
Normally I would sell most of this but going to stick with it. I was wanting to add more shares but oh well.
Still betting on a rate cut it seems.Almost Million jobs revision lower out this morning from March. And somehow market is at parabolic ATHs.
The market MAY be waiting til near or at the announcement of the rate cut and then sell off hard (“sell the news”?).
Yeah, agreed but this is bad. Stunning seeing the market just shrug this off. I’m all cash in 401k and mostly cash elsewhere. No interest in this market at these levels. Market likes rate cuts so maybe it pushes higher but it’s been near vertical for almost 6 months.
The mag7 + Avgo have over $20T market cap…
GeorgiaGirl
Member
It looked as if it might get interesting for about 30 minutes after the jobs revisions and then this time, oddly the big banks was what stuffed it.
Small caps are down today though.
Small caps are down today though.
Oracle up 30% after hours. Earnings came in light but its guidance was unreal. Cloud/AI growth projections were really unbelievable. Maybe this market shrugs off stagflation…
Gap fill should be funOracle up 30% after hours. Earnings came in light but its guidance was unreal. Cloud/AI growth projections were really unbelievable. Maybe this market shrugs off stagflation…
View attachment 174861
Maybe we'll get good rock music again since the last time we had stagflation the late 70s into the 80s were great for hair bands.
Oracle up nearly 40% since yesterday's close lol. I sense an AI bubble disturbance in the force.
well I closed my short position in my IRA this morning for a loss...oh well. Looks like I was wrong...market is going to keep pushing higher.
No swings on today...might need a little break.
For ORCL to be up almost 50% in a few hours on backlog growth...not even real revenue yet...just promises of buys over the next few years. This reminding me a lot of the dotcom bubble bust...so many companies back then had huge backlogs of orders that vanished overnight.
ORCL isn't some $20B market cap company...it's now almost $1T market cap and it's up almost 50% in a few hours.
Maybe AI is going be just that big...
ORCL isn't some $20B market cap company...it's now almost $1T market cap and it's up almost 50% in a few hours.
Maybe AI is going be just that big...
Now we know why....this all seems orchestrated...this market should be cratering and every day we get some odd headline/news to pump the market. OpenAI is burning cash at an alarming rate. about $12B in revenue a year...where are they going to get $300B to invest with Oracle.
GeorgiaGirl
Member
Will be interesting to see how small caps move, because you have two numbers that should be bad for them.
Trying to. Eventually
Fairly historic what is happening with the market...I can't shake my bearish economy bias right now so not doing anything. I came into this week short Qs and got ran over with the huge gap up on Monday and took the loss. Haven't added any positions and still sitting in mostly cash. I'm probably not going to do much the rest of September and maybe October. It's been a great year so maybe taking rest of the year is probably the best...
I need a break...it's hard to trade long when you have no conviction of being bullish.
I need a break...it's hard to trade long when you have no conviction of being bullish.