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What's the the "3 day rule?"
LRE 2 down from 13 should bounce from here
DJT 31.55 bounced...I grabbed some ;)
June 28 (Reuters) -
The Nasdaq and the S&P 500 touched record highs on Friday after an in-line inflation report strengthened hopes for interest rate cuts in September, while Nike was set for its steepest one-day fall in over two decades after a gloomy forecast.
Data showed U.S.
monthly inflation
was unchanged in May, an
encouraging development
after the strong price increases earlier this year raised doubts over the efficiency of the Federal Reserve's monetary policy.
The Commerce Department report also showed consumer spending rose marginally last month, fueling optimism that the central bank could engineer a much-desired "soft landing" for the economy.
Bets of a rate cut in September picked up after the data, last standing at near 66%, LSEG FedWatch data showed.
"We've been expecting some cooling in PCE numbers for quite some time and it has taken longer than we expected, but it now confirms that the inflationary pressure is cooling off a bit and that should be a positive for risk assets, especially equity markets," said Bel Air Investment Advisors' chief investment officer, Arun Bharath.
Traders have held their bets of two cuts despite Fed projections of just one this year, hoping for a sustained downtrend in inflation and as the economy remains susceptible to decades-high interest rate.
The S&P 500 information technology index was the top sectoral gainer, while utilities fell to the bottom with a 1% decline.
Top chip stock Nvidia firmed 1.5%, while others including Marvell Technology, Qualcomm, Applied Materials and Intel rose 1.1%-3%, helping the Philadelphia SE Semiconductor index gain 1.9% to a one-week high.
However, some megacaps fell after Treasury yields reversed their early course and inched up. Meta Platforms, Alphabet and Amazon.com were down between 0.6% and 1%.
Further, San Francisco Fed President
Mary Daly
acknowledged the cooling inflation, and noted that it's "good news that policy is working."
Among others, Nike slumped 18.9% after forecasting a surprise drop in fiscal 2025 revenue, weighing on the broader consumer discretionary sector.
At 11:56 a.m. ET, the Dow Jones Industrial Average was up 61.15 points, or 0.16%, at 39,225.21, the S&P 500 was up 14.70 points, or 0.27%, at 5,497.57, and the Nasdaq Composite was up 55.05 points, or 0.31%, at 17,913.74.
Investors also geared up for the final reconstitution of the Russell benchmark indexes during the day.
Both the S&P 500 and the Nasdaq were set for gains in a week marked by a short-lived rout in AI-related stocks, Amazon.com hitting $2 trillion market value for the first time, some quarterly earnings, and a mixed bag of economic data.
While the two indexes were set for quarterly gains, the Dow was set to end the quarter down 1%, highlighting the divergence between the more tech-heavy indexes and the rest of the market.
Among individual stocks, optical networking gear maker Infinera jumped 18.3% after Nokia said it would acquire the company in a $2.3 billion deal.
Advancing issues outnumbered decliners by a 1.73-to-1 ratio on the NYSE and by a 1.32-to-1 ratio on the Nasdaq.
The S&P index recorded 15 new 52-week highs and one new low, while the Nasdaq recorded 46 new highs and 82 new lows.
Yes and it causes a sweep...used by mm's & traders to stop sweep shares in volume due to technical breakdown into buyers sitting...same thing
I see sweeps as positive...that being said, if AEMD breaks down .45, then we got a problem...jmho
That’s called a technical breakdown
I'm only down -0.35%, but after weeks of opening account to nice greens...it's shocking to see red...lmaoooo!
PEV, filled gtc at .35...have orders at .20, .25, .30...I think this will be a nice bouncer at some point...dip is way too obnoxious...also swept .40 which was previous major support...volumes have dried up meaning sellers are gone imo...good luck!
all my stocks are red ...seen it before lol
$TLSA .93 announced that it had received non-dilutive funding of $3.4 million
Worst day in weeks in account...only big mover is my smallest position MTC...lmaooo
Almost everything else is red at the moment, was hoping for green pops to get to cash, but I may just end up holding into Monday...Stay tuned
watching it
LRE 2.37 ready to bounce here imo
PEV in some .35s thanks
The index value of pending home sales in May dropped by 2.1% from April, and by 6.8% from a year ago, to 70.8 (seasonally adjusted annual rate), what headlines dubbed an “all-time low” or “record low” in the data going back to 2001, and that’s close enough. In the NAR data we have access to via YCharts, today’s reading was still a hair above the prior all-time low of April 2020 (index value of 70). But the idea is the same: demand has collapsed, even as inventories have risen.
“NAR predicts mortgage rates will remain above 6% in 2024 and 2025, even with the Federal Reserve cuts to the Fed Funds rate.”
What a bummer?
And this sustained plunge in demand is occurring even as supply in May jumped to 3.7 months, the highest since June 2020, and as inventory for sale jumped by 18.5% year-over-year, to 1.28 million homes, according to NAR last week:
yeah, insiders been dumping too...it's all set up to fleece the working middle class..imo
Yeah, by end of day tomorrow I'll be 80% cash...it's end of month paint job & 401k day tomorrow...next week could be ugly as they'll want to buy stuff cheap again and redo it for July...what a rigged game this all is
“Trimming of exposure by hedge funds is in sharp contrast to the record inflows seen into tech-related funds last week”
— Genevieve Roch-Decter, CFA (@GRDecter) June 27, 2024
In other words, everyone but hedge funds is still piling into tech.
Hmmmm…
🚨Hedge funds “aggressively” selling tech stocks like never before.
— Genevieve Roch-Decter, CFA (@GRDecter) June 27, 2024
According to Goldman Sachs, net selling in the U.S tech sector is on track to be the largest on record in June, going back in data since 2017.
Tech sector now makes up 33% of the S&P 500.
Highest in nearly 24… pic.twitter.com/MY3u80jPlN
PEV, this chart:
https://schrts.co/iHbjDJsk
wow! ;)
PEV on watch ... thnx!
PEV seems like a steal down here...we reverse I'll be munching, we break down .40 I'll be munching
$BSEM The medtech arena is not the easiest to navigate given how many kinds of companies are in it. It’s all about finding emerging players like BSEM who have successfully navigated the regulatory process (a real barrier to entry) and show real growth.
https://hugealerts.com/bsem/
MNDR big radar..imo
AEMD, got more .55's, sitting .52's for triple
Agreed about Mark, what you said…
ok I 'll take your word for it
I honestly don't think that's not how he rolls...it's the same thing I do...I load near lows, then I alert public when I see what I think is the break on it...no need to alert if action isn't there...I think he's alerting the break location...and you have to admit, he has some major barn burners...I always check the chart 1st, then dd, if they're right I will jump on his...if not, and sometimes I don't like the dd or the chart, I won't buy...all JMHO
also, I know for a fact he uses a paid program that spits out possible breakouts...so he's actually saving us big money (by his paying for subscription to that feed) by letting us in on those possible breaks ;)
BRSH breaking .08
I will be a buyer at $9.09..probably buy some calls there too...
Welcome to my world, be the chased, not the chasee...position & wait for the inevitable ;)
WBA smack down on earnings warning, going the way of RiteAid?
Puts moved thousands of percent…
Wasn’t in, should’ve paid more attention when I looked recently…
he will buy ie .07 and pump it at .09+
so simple find 52 week low when everybody is following the pump
Marks one of the better traders, I follow his picks...I don't buy them all, I do quick dd, then check chart 1st...if chart near bottom I will trade them...if up on day & overall chart, I usually pass...only one or 2 others I watch there, rest is just noisy pumpers I mostly ignore...I prefer to be the leader and be chased than be a follower getting dumped on...I also try to bring picks that are bottomed so that everyone wins, not just the front-loaders who dump into crowd...jmho
I want the reputation of someone trying to help everyone make $$$...I believe the more people with $$$ winning, the bigger & stronger the plays will be...good luck!
Mark the pumper at the other board play him
PTPI added some dip today gap closed
LRE look at that spread 2.47x2.60 LOL...100% agree
$LRE imo next bounceer by looking at the chart
VINE we may get big dip on daytraders...don't know how many times I've seen a good stock pop with volumes, then drop to lower than you could buy when there were no volumes (aka .40's)...due to mm's dropping stock hard & getting the daytraders to stop out with a loss...I'll be down there backing up truck (see ibox for back up truck term) lol
Since this is still 2 weeks out, daytraders will lose interest..imo
VINE new info:
Live Nation is their partner and is a big investor in the company. They do all the bookings, handle the ticket sales, Aramak does the food
It's really a great business model. VENU presells real estate at the amphitheater which is a depreciating asset so you get a write off on your taxes as well as 8 concert tickets per event. Those monies break ground for the construction and local municipality pays for the rest of the buildout
The wine company is still operational but it's basically a NYSE shell
VINE is one I'm sticking with thru the merger...this is big:
https://www.wsj.com/business/media/bulgogi-tacos-fire-pits-and-tequila-bars-concertgoers-shell-out-for-vip-treatment-cf1f6602?st=c1g4kmion2hv8z9
WSJ article out the other day about the pending merger which should be in the next couple weeks
VINE 4.9% insider just posted some information:
S4 was filed 2 months ago
The last fireside chat CEO hosted he predicted middle of July for name/symbol/cusip change to VENU
They'll be ringing the bell at NYSE
He also said he's looking for $25.00 on the stock shortly but there will be a R/S upon merge to take the stock over 10 bucks
The max R/S they can do is 17:1
So the higher it closes, the better off it will be.
There's 11MM in the float on VINE. A very large chunk is tucked away. It does not trade normally though. Every month I get pretty good income on Fully Paid Lending programs for this name. No clue who the heck would be shorting it
Positive EBIDTA this year, no debt, guidance is spectactular, $49MM in 2024 to $191MM in 2025 and $335MM in 2026
My 2 cents, I don't think its shorts myself, volumes too low...just not on anyone's radar...imo
Stay tuned kids, this could be a big boy some day ;)
what makes you all that confident in VINE?
could go to 1.8$--- TIA
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Assistants dabonenose matt24d K-Pax Natural Trader |
Welcome to Vlispxpert's Underground. This board is mainly for undervalued, oversold stock plays. The price of the stock is not of concern, so .10 to $20+ picks are welcome if they meet the criteria below. (No pinks or otcbb please) I will be placing my watch picks once a week or whenever I find one I really like...These days it's quality over quantity of picks...
Disclaimer:
Anyone who is considering investing in any of my oversold picks, needs to understand that there is usually a reason the stock is oversold in the first place. 9 times out of 10 there was some bad news that caused a major sell off...
These plays are risky in nature because of this factor alone. I am playing the odds when I buy an oversold stock. The theory behind my picks is the price shouldn't go much lower, due to the oversold indicators & the shorts are close to covering. JMHO
If the price does go lower, I average down, which I believe just causes more pressure on the stock rather than relieving pressure by selling. I usually wait for a 25-35% drop before averaging down, depending on the volume & activity of the market.
I also believe in holding the stock through the turbulant bottom when it is trying to correct itself. It may take a day or it may take months, but the theory is, it will turn around at some point...JMHO
There are 4 things that will make me sell a stock immediately:
1) Strong dilution (over 50% addition to O/S).
2) Bankruptcy.
3) Reverse split.
4) Bad news, usually of the financial nature (Big losses, bad quarter, losing major client, etc.)
I just wanted to post this as a reminder to those who do decide to buy one of my picks that there is a high risk factor & that my picks aren't really daytrades. They are buy & hold until the market comes to you. Sometimes they play out like daytrades, and sometimes it's like water drip torture for weeks on end...
I believe in my method, however contrary it is to the daytrade crowd, who wants instant gratification or it's a complete failure in their minds....
Good luck & good trading, I hope this helps in future decisions on buying any future picks...Thanks
Terminology you may hear:
Starter=1%-2% amount to keep eye on stock while it's trying to find support.
Add=2%-6% tripling of position after a 20-35% dip.
Back up Truck=20%-30%
"If you want to get rich, stick your head above the crowd, see which way it is going, and immediately head in the opposite direction" -My Favorite Quote-
"The stock market is a vehicle to move wealth from the impatient to the patient". -Another Great Quote-
My other board strictly for trading gold/silver stocks is located at:
http://investorshub.advfn.com/Beaten-Down-Junior-Gold-and-Silver-Stocks-30266/
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