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Yup. Broader market narrative continues with retail disappointing earning results. Futures were already down triple digits with the Asia Markets being down heavily overnight. Keep an eye on the $ACB gap.
Recession Fears are heavily increasing. Keep cash on sidelines. Economy is running to hot.
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Mixed earnings with higher costs. Retail continues to bloodbath narrative for the overall market. We'll see what the Q4 shopping environment brings to the retail sector.
The most obvious is the global markets are in a bearish correction. The U.S. began this correction near the middle of October when there were signs of several sectors and major indices topping out. The rallies leading the market to these high-valuations was led by Tech. Tech is the dominate factor in the market and are the heaviest weighted across the indices, sectors, and investment portfolios. Institutional Money has been rotating out of Tech into other sectors (safety havens) like utilities, consumer staples.
As for $WMT, it rose ~19% since the earning report in August and is currently ~10% off it's recent high at the close of yesterday), which is better than most companies can say. The next support level for $WMT is the $90.00 area, should the selloff and retail sector continue to be under pressure.
The economy is booming; however, it you look at the past few months you'll see/hear a lot about companies buying back stock. In fact, buybacks have increased dramatically. These buybacks are misleading the growth of the companies and their earnings. Conclusion, the earnings and growth cannot sustain (buybacks eventually catch up to the market and growth valuations). Sooner or later, the companies cannot continue to meet the expectations of wall street. We began to see this when the Tech sector started missing earnings.
To add fuel to the fire, I've been watching the correlations between the strong U.S. Dollar and 10-Year Treasury against the major markets and fear gauge. When the $ and Treasury rise the latter falls. This is also relevant to the interest rate discussion, which continues to rise and is hurting the housing market (builders) sector.
In conclusion. The U.S. Market is not just driven on how successful the economy looks on paper. There are many global dependencies that feed into the market. I wouldn't look at this as a Rep/Dem discussion. For me, I only depend on what the technical's are doing across all sectors of the U.S. Market and understanding how the Asia, UK, markets are behaving, which ultimately has an impact on the U.S. Futures. Those then drip-down into sectors and individual stocks. If the individual stocks (like Apple) carry a huge weight - their behavior can have a significant impact to the broader market. Keep an eye on Tech! I do expect retail to turn-around, but it's going to be a 4th Quarter shopping event.
Thank you, buddy. $ACB will be in play again - just takes some patience for the right side to present itself. Keep cash on sidelines until then. Always protect your capital.
Have a safe and wonderful evening.
Narrative remains for $ACB. Avoid the noise by these "advertising articles" and "biased authors". The disclaimer tell you everything you need to see / hear. Focus on your trading plan; always make sure you're on the right side of the trade. Know your limits, value and assessment of your risk tolerance. Markets and cannabis (expect for one (ticker ends with an 'N' and remains the strongest of them all ) remain in bearish correction territory. Overall markets are still being carried by utilities and consumer staples. Retail begins reporting earning tomorrow (I've accumulated heavy on them today), so they may be strong enough to change the narrative for the overall market and possibly get tech out of the wreck. That would bring the market alive out of bearish territory in general.
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Have a safe and wonderful evening, my friend.
Keep in mind overall narrative for $ACB remains; so thread careful until the overall big picture changes.
Yes. Go for a nibble with tight stop-loss (say about 5.90 area). $6.00 is the support expected to hold (see notes below). I am also accumulating large positions in Tech and Retail; especially with earnings coming tomorrow morning for Retail and holidays on deck.
Keep an eye on these points below:
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Bullish on $WMT. Retail sector has been beat-up more than most of the market. Too much focus on Tech and Apple in this market; most are missing the potentially largest holiday season ever (coming) with consumer sentiment at the highest levels, ever (I believe).
Loading up on Retail stores today; especially as piggybacks off the earnings for $TGT. $WMT is an EASY $100 target short-term.
In my opinion, this is the last week of the bearish correction for retail and money flow will reverse from the consumer staples and utilities back into Tech and Retail.
Bullish on earnings tomorrow morning. Retail sector has been beat-up more than most of the market. Too much focus on Tech and Apple in this market; most are missing the potentially largest holiday season ever (coming) with consumer sentiment at the highest levels, ever (I believe).
Loading up on Retail stores today; especially as piggybacks off the earnings for $TGT. For the past 2 weeks I've been in these stores (especially target) with consumers filling up the stores, deals have products flying off the shelves.
In my opinion, this is the last week of the bearish correction for retail and money flow will reverse from the consumer staples and utilities back into Tech and Retail.
Still expecting 6.00 to re-test.
Keep cash on sidelines....
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$8 physiological number to break and hold.
Here we above; hold above 7.70.
Quick profit taking; traders reloaded at 7.45 support.
Must break and hold that 7.70 area now. $NIO bull is ready to rage above those areas.
Support levels to be tested.
See post below:
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Yes, $NIO narrative remains bullish and speculative with G20.
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Asia Markets closed up nice; $NIO resistance re-Test today. Fed and China developments on deck. G20 summit coming up in a few days (speculative deal to be made). US-China Industrial exposed stocks held up very well last week; some making new highs. Very bullish; China impact not as negative outlook.
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No worries, it happens. Yes, Day Trading and any type of news can certainly be noise for the investor, who has an outlook of years. I, myself, am more of a day trader and swing trader.
I’m not big on the “buy and hold” through all the peaks and trouts. Money must always be working - that’s how my trading plan is built. Always cutting losses short, allowing winners to run, and being precise on entries and exits when the markets are indecisive. The money to be made in downtrends and swings enables me to compound monies quicker than waiting for months or years. Then again, trading is not for everyone. That’s why it’s easier for some to “buy and hold” until (eventually) the stock moves in the opinionated direction (however long that takes). Again, just not my personal style.
Books are always great to read, I have a collection of 200 - 300 that I read often; however, the BEST EDUCATION, is being in the market and learning the behavior of the stocks, sectors, etc. Lessons learned are the most beneficial.
Well... have a great rest of your day. Looking forward to the short week ahead. Markets closed Thursday and open half-day on Friday.
Yes. Recently consumer staples stocks and utilities have been my bullish areas. Tech and Retail have been my short selling sectors. However, we may see that pendulum change going into Thanksgiving week with additional rotation into Tech and Retail, as it’s expected to be the highest record year of consumer confidence and spending this holiday season. Many names of retail sectors had amazing earnings; however, those stocks were trapped in the overall bearish correction territory - this goes to show you that earnings and news cannot always be in a bullish position, when the major indices dominate the narrative.
Apple has had a major influence on the downward spiral, as it’s the biggest company in the market with the highest weight percent across the sectors and is in just about every 401-k and investment portfolio.
There are various types of trends to watch for in the market - not just money rotation, but how the major, intermediate, and short terms trends are reacting - the trend is your friend is only relevant based on your timeframe (duration of holding period) and outlook. I respect the DOW Theory, but it’s not a one-sum game.
Watch for rotation... We started to see signs of this on Friday with confirmation patterns and signals. Also watching the Gaming sector and computer chips.
Hope that provides some substance and gives you another angle of looking at the current market cycles. There is always a bull market somewhere - just need to identify where the rotations are happening. All the news and reasoning why is so important - just follow the money.
That’s why I always tell people to avoid all the garage press releases, YouTube videos, company speculation.... blah blah blah. The only things that matter are the trends (as explained above), sector rotation, closing price, and where the money is going. Everything else is a distraction, hopefulness, desperation attempt to ease the sub-conscious thinking, and further influence those in denial. Reality is traders need to focus on the facts and not the “Forward Looking” from articles (of any type). Being a sheep will only get one slaughtered. Many in $ACB, sadly, know the feeling of this...
To be successful in this business long term it’s all about consistency, discipline, patience, and being non-emotional. Unfortunately, many can preach it, but following it is another discussion. That’s why a trading plan with specific criteria (money management) and a journal are a must.
Have a safe and wonderful rest of your day!!!
Sounds good buddy. I’ll be keeping watch on those figures from Post# 34483
Have a safe and great weekend, my friend!!
Keep these targets on your radar for next week.
Agreed. Perspective is all dependent upon an individual’s short or long term outlook, timeframes, type of trader or investor they may be, And the most important of them all, “entry price”. It’s all relevant at the end of the day.
$ACB remains in bearish correction territory. Always a potential for that 4.99 - 4.90 to be tested, should the 6’s and 5.40 support fail to hold.
Have a good night buddy.
$NIO ascending narrative continues; looking stable; especially compared to a crippling bearish correction market - minus utilities and consumer staples of course (their the safe havens for now). Once Tech and Retail get their footing back (and the wash out of the lows are finally established) the markets will bounce hard into the BIGGEST shopping season to be calculated in history.
Friday sold into resistance - that’s always a pause for a little retracement.
Resistance remains: 7.35, 7.45, 7.70
Long term Dynamic Support: 6.96, 6.77
Short term Dynamic Support: 7.10, 6.95
7.70 break sets-up $NIO for a potential retest of the 8.30 area.
China deal could pour gasoline on raging bull. Who knows if a deal with China will be made or not. Could happen before the G20 summit, at the summit, or next year... G20 summit is from November 30th to December 1st.
If today is any clue as to what a deal with China means - look how the news ran up $NIO around 12:45 before that news was quickly down played a bit. The news IMO will set this raging bull free. The accumulation has been non-stop hear for weeks.
Have a safe and wonderful weekend all.
$ACB narrative remains....
Bearish Correction Territory
Short term Resistance: 6.55 & 6.77
Support: 6.16 & 6.00
Open Gaps: 4.99 - 4.90
Overall: keeping money on the sidelines
There are some solid day trades in this stock when they present themselves; very short holding periods with large positions.
Once the $ACB gets it’s footing this will be a “buy and ride” but until then there will be plenty of noise and distractions - don’t allow those artifacts to impose emotional and behavioral bias on “what you think” versus “what you can prove without reasonable doubt”. Every article and press release is Forward Looking (see any disclaimer); therefore, what you read and take-a-way as fact could be no more than an illusion of your biased assumptions.
Time and price is the truth. Can’t focus on where this stock cane and went - have to focus on where it is in the current, that’s all that matters. Everything else is rubbish.
That’s how you become successful at doing this for a living. Making trading your sole income driver Always have a trading plan, journal your trades for reflection, protect capital and always have stop-losses in place (even if they’re mental mental). Don’t put all your money or most of it into just one stock or sector - diversify.
Have a safe and wonderful weekend everyone.
Thanks, buddy. Glad to hear you have a plan in place. If prices stabilize and do not meet some of my assumptions ("Click Here to See Them"), than you should be able to average down significantly soon - providing you with a decision point that makes sense. Appreciate you taking the time to comment. Good luck with your strategy!
Short term channel between 7.32 - 7.45.
Plenty of upside; large resistance at 7.70 and 8.20
Been buying since the 5s and 6s as well as day trading. My play right now $NIO.
Yeah, tell that to those holding bags. Issuing shares is never a good thing. Company is raiding money on the backs of those holding and issue receivers are selling.
Short term buy spike...
LOL, PR's are noise. Check out the disclaimer
http://microcapspeculators.com/disclaimer/
Usually triggers to get those profits taken... Good luck, have a good day.
Can't blame videos or seeing Clay appear. C'Mon. The price is not dependent on those, lol. The entire market is in bearish correction for weeks now.
LOL, I thought the same thing. Keep doing your hustle, buddy. Been in this game a long time, as yourself. Been watching you post for years - we may even butted heads before (who knows). I'm sure it gets frustrating to many having videos posted when the specific stock is down (and they may be themselves). Then again, perhaps that is part of the psychology behind the marketing. Who knows, lol. I am not one to judge. Have a great day and keep doing you, buddy.
Sounds good, my brotha (zhills). I am glad to hear you never bought at the peak - it was such a beautiful setup for those waiting to sell and short. I've been sidelines watching $ACB for a minute myself. Day traded it here-and-there for quick profits. For me, personally, the indicators are not real big for me. I just watch time and price. Indicators can provide very false readings; especially in bear markets. With these markets I am poised to day trade, since there is too much volatility and uncertainty.
$ACB support at 6.39
Thanks again for the post and friendship buddy. Enjoy the cool Florida weather - it's about time
Maybe, but I pay no attention to that stuff. Noise to me.
Trap right into resistance, IMO.
Cannabis leader is now in strength zone; looks great holding that bearish correction territory C$R$O$N. ETF of this sector is testing correction resistance. The correlations between both A's of the cannabis sector $ACB and the other (won't list it to avoid this post from being deleted), remain in correction for now.
Gotta love these boards, lol. It'll get noisy when a day trade swing presents itself. Keep money on sidelines buddy.
Hope you got my private message from Wednesday, November 14, 2018 3:30:34 PM. I wanted to tell you something. See ya, Z.
Anytime buddy! Cannabis sector overall remains status-quo. Those who have been showing strength prevented themselves from going into correction. And those laggers in correction - are still fighting that infamous resistance level. Strongest ($CRON); they're the leader of the pac.
If cannabis can have a solid day today, it may propel the group out of correction and potentially change the narrative here - but that is yet to be seen. I am hopeful it does so many who've been beat-up here can take advantage of making money, getting out, or whatever the plan is for them.
For what it's worth... My opinion is the company may have issued too many shares too fast. This always hurts the investor. Not to mention diluting any ownership levels. If my ownership is diluting, I'd be dumping as well (collecting every penny I could - until it makes sense to buy again, if at all).
Even with this supposed new acquisition coming up. There is talk about issuing shares to the individuals who own the potential "to be acquired" company. How many is that? What are the restrictions? So many questions. That would raise concerns to me, if I was an investor.
But, if someone is positive on the outlook for $ACB, who am I to tell them to walk away and never look back..?!? I just want to raise the flag of warning that maybe it's better off to swing trade a stock until it get's the footing needed (momentum), so you can enjoy the ride. Unless someone is in the position to buy an infinite amount of times (averaging down) as part of their trading plan and outlook. Everyone is different.
Some might say, "Well, it's better to buy cheaper at the levels and hold forever." Yeah, maybe, if that's your plan and your sticking to it. But it also makes sense to buy at lower levels and sell into resistance. Waiting for a chance to rinse and repeat. Granted if momentum changes the narrative here someone may be required to pay more than what they could have in the past (so be it). But, that mentality can get an individual slaughtered in this game. Again. It all depends on someone's outlook, trading plan, and how comfortable someone is playing this game.
There will always be times to buy a stock on pullbacks, missed earnings, analyst downgrades, corruption, etc. Good luck trading; wish you the best.
I try not to get too concerned with the share structures, honestly, as I'm more of a day/swing trader than a long-term investor. However, with thinking about it - there would be some concerns for me as an investor, such as how the shares are distributed among the population. What I mean is how many shares have been swamped with companies for acquisitions, investments, etc.
I'd imagine by keeping the outstanding shares to an enormous amount (say 1 billion), than it losers the chances of executives and companies OWNING THE MORE THAN 5%. Once an entity controls 5% of the outstanding shares of the company - they're obligated by the Security Exchange Commission to declare filings for both buying and selling of shares. There is no loophole around this...!
It's evident there is an enormous amount of selling. The supply is out weighting the demand significantly, as the stock is off about 46% from it's 52-week high. This selling could be from short sellers, executives, individuals given shares for exchange of acquiring a business, etc. There are too many variables to try and make logic out of thin air; therefore, I leave that type of uncertainty out of my wheelhouse.
Remember, If anything, share size is a disadvantage, not an advantage. One of the disadvantages of size is that the investor has a higher chance of moving the stock price against themselves.
As for the manipulation... the penny stocks see this the most and consistently!Anyone whose been in the penny world can tell you that. I love the game though - it's not for everyone
My advise is to focus on time and price. Price is the most meaning element in this game. Don't believe everything you hear from the company or these paid advertisers like PR Live, Seeking Alpha (some are compensated), and many others. A company is not going to be transparent, as much as people like to think that. All this noise is designed to impose distractions. That's why market success is ~ 70% - 80% psychological, at the end of the day.
One day doesn’t change the narrative here, but was nice to finally have a Green Day. Day Traders were able to take advantage (along with some who may average down, yet again). Nothing wrong with averaging down to a more reasonable price point - just keep in mind that always puts more money at risks. Then again, The average price may help you sleep better at night
The stock is currently ~46% off it's 52-week high, based on today's closing price of $6.64. (Disregarding any after/pre market movement).
I had mentioned in a post that the 6.66 click here area would likely be a resistance area - that’s why I wasn’t so eagerly bullish. YES, we have a Green Day that finishes slightly off it’s high; however, I haven’t seen enough strength to change my outlook. Still need to see some additional conviction today with a higher high confirmation above resistance areas to make this a little more appealing, at least to me - if I’m committed to throw a very large amount of money at this. Otherwise, I’d be gambling at this juncture. Of course, anything is possible. Cannabis is highly volatile and can skip a beat on any type of news. This is great and disappointing at the same time. Just always protect yourselves with stops and take profits along the way. Sell into strength- even if it’s just a small % of your profits. I’ve never gone broke taking profits. And you never know when that unpredictable gap (in either direction) could happen. When it goes against you - it's the worst gut feeling in the world. I'm sure you get where I'm going with that one. We've all been there - that's why you must have stops in place and be mindful of taking profits along the way.
The stock still remains a bit concerning for me under the $7.32 level with resistance levels of 8.37, 8.13, 7.32 and most current 7.06.
Do not rule out another retest into the 6.00 area where that needs to hold to prevent a 5.40 area test. That would then put a potential gap fill on the radar at 4.99 - 4.90 click here. And always be mindful of these press releases and articles. They have "Forward Looking Statements". Go to the bottom of a press release and you'll see how ambiguous the wording is. Many get too caught up in the fluff above the statements (*Light Bulb*). This Forward Looking Statement protects the company and the press release entity because their assumed outlook, prediction, and in all honesty "truth" cannot be substantiated. By all means, ride that wave of profits on the pumps, but be sure to take profits along the way and don't get caught up in the mental and emotional aspects of the content. There is a reason companies pump so many press releases and it's not because they're being transparent. There is ALWAYS an agenda
I’ll be watching closely today, along with the more broader markets (Asia, UK, Futures, oil, interest rates, bonds, Tech, etc.) Speaking of broader markets - I’m still a little concerned about the strength and thinking we may test the lower levels of support again, as it just cannot get out of correction. I’ll be analyzing them this morning after this post and getting everyone out the door (for work and school).
None of this is to scare anyone... I'm just trying to show a different perspective. ALWAYS take profits. The market is unforgiving. ALWAYS implement stop-losses whether they are mental notes or set in your trading software, right after you enter a trade. And ALWAYS have a clearly defined trading plan written down with specific actions to take when certain criteria presents itself. I really hope all this was helpful in one-way or another.
Sent from my phone, please excuse any grammatical and spelling errors.
Yeah, I swing, LOL. That made me think of the "Swinger" commercial. Just had to have a good laugh.
Appreciate you, buddy! Honored by your post. Be of luck to you and your success plan!
Have a safe and wondering evening.