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Looks like a sell-off has started.
The NASDAQ is up afterhours but TQQQ is down a bunch during that same time. If I'm reading this right anybody have any ideas? Thanks.
Powell speaks Tuesday - noted way down in the schedule of events - https://www.cnbc.com/2022/05/13/investors-could-get-a-reprieve-from-vicious-stock-sell-off-in-week-ahead.html
The government needs to reign in commodity speculators, particularly those involved with oil commodities, Goldman Sachs used to be the biggest one, I'm not sure if they still are.
There's talk in Europe of the European Union doing just that, they're crazy not to, huge profits have already been made by the oil industry and Russia could restrict it more.
I've never seen an American president take on rampant commodity speculation, I thought a democrat president would but I was wrong.
Schedule of daily financial events next week (further down the article) - https://www.cnbc.com/2022/05/13/investors-could-get-a-reprieve-from-vicious-stock-sell-off-in-week-ahead.html
Margin debt still strong but unwinding by a bunch:
"A margined investor that was heavily concentrated in these stocks and didn’t dump them in time could get wiped out and might be thinking about rejoining the labor force to help solve the labor shortages.
Margin debt peaked in October. The Nasdaq was a month behind and peaked in November. Since then, margin debt has dropped by 17%, and the Nasdaq has dropped by 27%. And in terms of stock market leverage, that’s the tip of the iceberg."
https://wolfstreet.com/2022/05/13/massive-stock-market-leverage-unwinds-amid-brutal-bloodletting/
Sorry, duplicate message.
I was wondering how low the PPT would let it go.
I wonder what their next allowed low is 10% down from this last low?
Maybe it's just for my browser but the already delayed chart above the posts here is delayed by I think more than 15 minutes, and way off.
The sooner the NASDAQ gets down to something more reasonable the better, lots of money waiting for that point, not sure what that point is though, I suspect we'll be seeing more talk about it in a week or two if it keeps coming down like this...might as well get the adjustment over with ASAP.
I'm afraid of getting stuck in TQQQ and am really low-balling it for this week at least.
Gotta catch it just right though, if it keeps dropping like this for another week or two it's going to be real attractive IMO.
Looks like it went up for a while after your buy at $31.25, nice work!
This week's schedule of events:
Monday: Federal Reserve Bank of New York's April survey of consumer expectations; Earnings from Palantir, Tyson Foods and Duke Energy
Tuesday: April NFIB small-business optimism index; Earnings from Sysco, Coinbase and Electronic Arts
Wednesday: April consumer price index; (if it comes in significantly lower than expected maybe good for stocks?) Energy Information Administration petroleum status report; Earnings from Disney, Warby Parker and Beyond Meat
Thursday: Weekly jobless claims; April producer price index final demand; Earnings from Motorola and Tapestry
Friday: April import and export prices; University of Michigan Consumer sentiment
https://www.cnn.com/2022/05/08/investing/stocks-week-ahead/index.html
This week's schedule of events:
Monday: Federal Reserve Bank of New York's April survey of consumer expectations; Earnings from Palantir, Tyson Foods and Duke Energy
Tuesday: April NFIB small-business optimism index; Earnings from Sysco, Coinbase and Electronic Arts
Wednesday: April consumer price index; (if it comes in significantly lower than expected maybe good for stocks?) Energy Information Administration petroleum status report; Earnings from Disney, Warby Parker and Beyond Meat
Thursday: Weekly jobless claims; April producer price index final demand; Earnings from Motorola and Tapestry
Friday: April import and export prices; University of Michigan Consumer sentiment
https://www.cnn.com/2022/05/08/investing/stocks-week-ahead/index.html
News article related to putin and tomorrow - https://www.nbcnews.com/news/world/putin-planned-russias-victory-day-rcna27462
No time for a speech is given though.
Yes I do, some weekends more than most.
I wish the NASDAQ was already down to where it needs to go. This week could be a trap.
When is putin going to speak tomorrow Pacific Standard Time or EST? That could move the market.
I was thinking they meant all the QQQs such as this, maybe I got it wrong.
I saw an ad on TV last night for the Invesco QQQs. The quick disclosure at the end referenced the NASDAQ 100 not the NASDAQ Composite.
From a google search: "Invesco QQQ - See how Invesco QQQ ETF can fit into your portfolio. Access the Nasdaq's Largest 100 non-financial companies in a Single Investment. The Nasdaq-100 Index."
I saw an ad on TV last night for the Invesco QQQs. The quick disclosure at the end referenced the NASDAQ 100 not the NASDAQ Composite.
From a google search: "Invesco QQQ - See how Invesco QQQ ETF can fit into your portfolio. Access the Nasdaq's Largest 100 non-financial companies in a Single Investment. The Nasdaq-100 Index."
Financial Schedule of next week: (Don't forget russian victory day Monday when putin might make a new threat.
https://www.cnbc.com/2022/05/06/stocks-could-see-more-tumult-next-week-especially-if-bond-yields-continue-to-scream-higher.html
From the article: "Emanuel said retail investors have been heavily invested in growth names. Those stocks do better when money is cheap."
Financial Schedule of next week: (Don't forget russian victory day Monday when putin might make a new threat.
https://www.cnbc.com/2022/05/06/stocks-could-see-more-tumult-next-week-especially-if-bond-yields-continue-to-scream-higher.html
From the article: "Emanuel said retail investors have been heavily invested in growth names. Those stocks do better when money is cheap."
Good posts guys,
I sure liked the part about how the funds will be notified in advance about the PPT.
9731 was the NASDAQ Composite high before the 2020 crash. It's been over two years since then, how close to that number would be appropriate for the NASDAQ to consider bottom? 11,000?
Of course there could be an initial overshooting of the new target NASDAQ composite number, whatever it is.
https://finance.yahoo.com/chart/%5EIXIC#eyJpbnRlcnZhbCI6IndlZWsiLCJwZXJpb2RpY2l0eSI6MSwidGltZVVuaXQiOm51bGwsImNhbmRsZVdpZHRoIjo0LjA5NTc4NTQ0MDYxMzAyNywiZmxpcHBlZCI6ZmFsc2UsInZvbHVtZVVuZGVybGF5Ijp0cnVlLCJhZGoiOnRydWUsImNyb3NzaGFpciI6dHJ1ZSwiY2hhcnRUeXBlIjoibGluZSIsImV4dGVuZGVkIjpmYWxzZSwibWFya2V0U2Vzc2lvbnMiOnt9LCJhZ2dyZWdhdGlvblR5cGUiOiJvaGxjIiwiY2hhcnRTY2FsZSI6ImxpbmVhciIsInN0dWRpZXMiOnsi4oCMdm9sIHVuZHLigIwiOnsidHlwZSI6InZvbCB1bmRyIiwiaW5wdXRzIjp7ImlkIjoi4oCMdm9sIHVuZHLigIwiLCJkaXNwbGF5Ijoi4oCMdm9sIHVuZHLigIwifSwib3V0cHV0cyI6eyJVcCBWb2x1bWUiOiIjMDBiMDYxIiwiRG93biBWb2x1bWUiOiIjZmYzMzNhIn0sInBhbmVsIjoiY2hhcnQiLCJwYXJhbWV0ZXJzIjp7IndpZHRoRmFjdG9yIjowLjQ1LCJjaGFydE5hbWUiOiJjaGFydCJ9fX0sInBhbmVscyI6eyJjaGFydCI6eyJwZXJjZW50IjoxLCJkaXNwbGF5IjoiXklYSUMiLCJjaGFydE5hbWUiOiJjaGFydCIsImluZGV4IjowLCJ5QXhpcyI6eyJuYW1lIjoiY2hhcnQiLCJwb3NpdGlvbiI6bnVsbH0sInlheGlzTEhTIjpbXSwieWF4aXNSSFMiOlsiY2hhcnQiLCLigIx2b2wgdW5kcuKAjCJdfX0sInNldFNwYW4iOnsibXVsdGlwbGllciI6NSwiYmFzZSI6InllYXIiLCJwZXJpb2RpY2l0eSI6eyJwZXJpb2QiOjEsImludGVydmFsIjoid2VlayJ9fSwibGluZVdpZHRoIjoyLCJzdHJpcGVkQmFja2dyb3VuZCI6dHJ1ZSwiZXZlbnRzIjp0cnVlLCJjb2xvciI6IiMwMDgxZjIiLCJzdHJpcGVkQmFja2dyb3VkIjp0cnVlLCJldmVudE1hcCI6eyJjb3Jwb3JhdGUiOnsiZGl2cyI6dHJ1ZSwic3BsaXRzIjp0cnVlfSwic2lnRGV2Ijp7fX0sImN1c3RvbVJhbmdlIjpudWxsLCJzeW1ib2xzIjpbeyJzeW1ib2wiOiJeSVhJQyIsInN5bWJvbE9iamVjdCI6eyJzeW1ib2wiOiJeSVhJQyIsInF1b3RlVHlwZSI6IklOREVYIiwiZXhjaGFuZ2VUaW1lWm9uZSI6IkFtZXJpY2EvTmV3X1lvcmsifSwicGVyaW9kaWNpdHkiOjEsImludGVydmFsIjoid2VlayIsInRpbWVVbml0IjpudWxsLCJzZXRTcGFuIjp7Im11bHRpcGxpZXIiOjUsImJhc2UiOiJ5ZWFyIiwicGVyaW9kaWNpdHkiOnsicGVyaW9kIjoxLCJpbnRlcnZhbCI6IndlZWsifX19XX0-
9731 was the NASDAQ Composite high before the 2020 crash. It's been over two years since then, how close to that number would be appropriate for the NASDAQ to consider bottom? 11,000?
Of course there could be an initial overshooting of the new target NASDAQ composite number, whatever it is.
https://finance.yahoo.com/chart/%5EIXIC#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-
Good info Tw0122, thank you.
Congratulations AG!
Not selling is tough in those conditions, I know from experience, I lost almost all my profit of trading SQQQ for two months just in two huge up-days, I wouldn't let it drop below my principal so I sold almost all my profit off, but had I held on I would have had it all back and then some, and not in too much time after that.
Every time I need $10,000 in life from now on I'll know I once had it and lost it in two days.
All this was before I read LuckyDude's post about the Plunge Protection Team who I think were responsible for all the buying those two days, as the markets kept going down for the most part after those two days - https://wallstreetonparade.com/2021/03/janet-yellens-plunge-protection-team-has-142-billion-to-play-with/
P.S. In review, I built just over ten grand in profit up trading SQQQ for two months, and it was really stressful doing that, as in taking time off my life, then I lost almost all of it in two days.
After buying a second time late today, and watching it drop hard below my purchase price, I'm happy to say thanks to the late uptick, I'm out with a profit (two profitable trades today of TQQQ,) but chances are you're right Chartmaster so you all can make the big bucks not me.
I'm down myself, it sure took quite a tumble. New 52 week low made.
$35.13 - it's the 52 week low according to eTrade.
Congratulations to all who road this wave, even partly.
TQQQ is getting closer to the double bottom of $35.13. If it gets there I wonder if technical traders will give it a bounce, or more than just a bounce.
Late addition to the post, it suddenly is looking a bit stronger, but for how long.
We've all been there, for me it's when it's too early in the morning (I'm in PST) and I'm not adequately awake.
The east coast after-lunch crowd might start showing up with their wallets within the hour, then again? $35.40 so far is the low for the day.
Another of your fine posts Tw0122.
I made $400 gain after the sale, I have another order in (for today only) at $35.13 which is the lowest support level, it was made on the 2nd. As of this writing it has a ways to go to get there though if it does. https://finance.yahoo.com/quote/TQQQ/history?p=TQQQ
Great explanation Fourdint, thank you!
Nice work...again AG!