Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
I love analysts. Easiest job in the world. Stock is going up? Upgrade it. Stock going down? Downgrade it.
It’s OPEX week. I wouldn’t bank on it.
Agreed - War is the what’s coming from all of this. History says it all.
If they raised the FFR to 5% we’d default on all our debt. Inflation is the only way out, and the fed knows it.
We just tagged the 100 DMA. Let’s see if it holds
They can’t let it tank more right now…. Fed presidents haven’t unloaded all their positions yet.
Fools are plenty these days
Buy the 2% dip!!!!
In all seriousness I am curious what this week will bring. Market hasn’t been liking Op-ex weeks lately, and this ones a quad witch. Not convinced this is a new rally to ATH’s, but we shall see.
My main issue is that there is an infinite number of ways to subjectively draw horizontal support lines (and most all other types of TA for that matter). Essentially, what works for you may not necessarily work for me. Here is an example of a bunch of trendlines I could easily draw. Maybe they're all right, maybe only some of them are. Who knows, and honestly, who cares. If you have something that works for you, good - stick with that. I appreciate the input, but I am sticking to a wedge break as the chief important level until 440.
I’m not exactly seeing this horizontal support you’re speaking of. Hard to grind out horizontal support when you’re hitting ATH’s every week for 3 months straight.
As far as I can tell, the real horizontal support is at 440, which confluences with the 50 DMA.
Anytime spartex. I’ll have to consult my crystals to figure out when the drop is coming, and then use my tarot cards to figure out when to buy back in! In the meantime though, I’ll let everyone else either stick to passive investing, or just purely guessing when to buy and sell.
That’s the beauty and drawback of TA. You can draw the line however you subjectively see it!
They will be correcting soon. Market caps are insane - even compared to sales. I have no idea who is buying at these levels (other than algo’s driven by endless fed liquidity).
Most people don’t day trade using a daily chart.
If you’re a swing trader though, the answer to that is quite simple. You buy at the base of the lower trendline (which frequently coincides with the 50 DMA). You might be a hair early, but you would still make good money swinging it. You would sell short or buy puts on a break, but keep a stop and flip long if it ends up being a false breakdown.
This works better with the trendline I have drawn, but Nowwhat’s is the same general idea.
I don't quite agree with his drawing of the wedge. Here is mine. TA is always great in hindsight, like you always say, but it definitely shows we are building to something very soon. This, of course, is not good in and of itself. But when you factor in the breadth and transportation divergences, I would not be surprised to see a 5-10% haircut this month.
I have to say, this trendline break apparently didn't mean anything when it was violated not once, nor twice, but three separate times to the short side - per your charting. Image credit, of course, to you. Could easily be a headfake breakout to suck in some final greed before september (which is seasonally the most bearish month of the year).
Hope you were selling some poor fool $444 contracts for today. Theta decay can be a real money maker.
I have a feeling volatility isn’t going to decrease much into opex. Good luck to you!
Sad to see the market movement being ever-increasingly dictated by the words of central bankers.
This market is being exclusively held up by the mega caps despite the bond and dollar bid… ominous signs to say the least
Up 74% since Thursday’s open. Might need to edit your definition of “consolidation”! Good luck to all, lots of money to be made here.
USD going up.... apparently pulling SPY with it lol
I’m speaking in a broader sense. Do I think there will be ebb and flow to commodity prices, at least in part due to supply chain issues (and chart profit taking)? Yes. Do I think inflation significantly higher than mean is here to stay and commodities will continue to trend up so long as the easy money MMT keeps up? Also yes.
Agreed 100%. Just look at any commodity right now. None of this is transitory, and they’re going to be forced to rate hike soon to combat it.
Correct me if I’m wrong, but that number really is no reflection of economic conditions “heating up”, due to the fact that everyone is getting bonus unemployment (which might have to be slashed if this worker shortage continues). Therefore it actually pinches the fed even further, because if the “transitory” inflation AND worker shortages both climb, they will be at an even worse catch-22.
Everytime a stock has a massive short squeeze like this, everyone and their brother starts screaming about how it’s a new paradigm and can go to infinity. It would be wise to mitigate risk here after the massive run-up. Congrats to all longs though!
I believe I can explain this a bit more in depth. When you get a virus, your body "tags" a portion of it (in this case, a surface protein called the spike protein) as foreign. It then produces antibodies (which find and destroy the protein in question) against this protein. This process takes a week or two. Then when the virus is encountered again, your body sees that surface protein and mounts a much quicker, more efficient response (since you have seen the virus before).
This vaccine, on the other hand, induces the creation of ONLY the viral surface protein in your body. Your body then 'tags' it, and you create antibodies for it like you normally would (except you don't have the rest of the virus, so you're not infectious).
Since the process takes a week or two, if you were already infected you could still transmit covid during the initial antibody creating encounter. However, if you were not already infected and just got the vaccine, you wouldn't transmit anything. We still do not know how truly effective the vaccine is, but hopefully it is as effective as they say it is. As far as immune longevity goes, that depends on the changes within the virus itself, and we can't really accurately predict if or when enough mutations will occur to render the vaccine ineffective.
Netflix is $500 and has a completely different market capitalization (far less) than Disney.... Disney+ is very promising, yes, but stock price doesn’t work that way.
Everyone would do well to not buy in at these levels.
Fair point. A QE-hopeful, no tax-hike fueled “run” then. We’ll see if it keeps up if the election continues to be contested.
Stocks take the elevator up and stair step down now a days.
Dude if you’re on margin sell half or at least sell enough to cover your margin. It’s not all your money.
The overall trend of GDX is still a downtrend... no reversal yet. Not to say money can't be made on either side, but I wouldn't be so quick to say GDX (and therefore NUGT) is in an uptrend.
As much as I wish it were not the case, I have to agree with you. Gold just doesn't have the strength to break its downtrend at the moment.
As much as I wish it were not the
FED beats around the bush when it comes to raising rates. They need to just do it already. .25% is not much at all.