Stock Market Today: June 6th - 10th

Discussion in 'Stock Market Today' started by Stockaholic, Jun 3, 2016.

  1. StockJock-e

    StockJock-e Brew Master
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    We had a good move over the past few days, nothing wrong with a little bit of selling.
     
  2. OldFart

    OldFart Well-Known Member

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    guess everyone is waiting on the baker hughes rig count @ 1:00?....markets got sideways...financial stocks got hammered
     
  3. surfsup

    surfsup Active Member

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    I'm up 22% since March on short positions. Not finding it hard to short. I opened a new short on ADSK a couple days ago. That POS is going down to the low $40s. Wish I kept my AUY/CDE though. What's up with Kinross???
     
  4. OldFart

    OldFart Well-Known Member

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    The Index of Consumer Sentiment hit 94.3 in June, the University of Michigan said Friday. Economists expected the index to hit 94 in June's preliminary reading, compared with 94.7 in May's final reading.
     
  5. StockJock-e

    StockJock-e Brew Master
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    Small caps back to Mondays levels
     
  6. StockJock-e

    StockJock-e Brew Master
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    Thats amazing!

    Good work!
     
  7. surfsup

    surfsup Active Member

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    A lot of my customers are oil and gas in TX and OK. It's not all cleared out yet. They are drilling but just capping and not pumping. On top of it, all the pumping is causing more frequent 2-5 richter tremors over the last couple years.

    "For decades, scientists have connected earthquake activity to disposal wells used by drilling companies to store the large volumes of saltwater and drilling fluids that come out of the ground along with oil and natural gas. The wells can reach more than 10,000 feet underground, crossing through rock and sometimes active fault lines."
     
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  8. surfsup

    surfsup Active Member

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    Thanks. I should note that I include long ETF inverse positions in that. So for example I also "shorted" biotech a few days ago with grabbing a long in BIS. and it's been doing pretty well.
     
  9. StockJock-e

    StockJock-e Brew Master
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    So its true!

    Its your fault! :D
     
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  10. Talon

    Talon Member

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    Thats just what he's blaming his "natural gas" on :D
     
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  11. surfsup

    surfsup Active Member

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    LOL. Looking at weakness in retail and the stocks RPAI and AKR look weak vs their peers and the group has had a decent runup. Anyone go long CVS or similar this AM?
     
  12. Stockaholic

    Stockaholic Content Manager

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    i'm not gonna lie here ... and i honestly don't wish for anyone to get burned again like maybe some did during 2008-09 meltdown ... but truth be told here i do kinda like to see the markets completely implode on itself again ... and preferably by this fall

    disclaimer: i am not in the markets right now, and have not been actively trading since really 2014 ... but honestly this is probably the most disinterested in trading/stock markets i have experienced i think maybe ever! and i have been at this gig for nearly 10 years (since 2006!) and have never felt so turned off by the markets quite like this before ...

    the manipulation that goes on in these markets which has largely be created by central bankers is pretty asinine imho

    give last friday's UE report a pretty nice example of just that -- we get one of the biggest job misses in like 5 years -- and the broad equity markets shrug it off as if it was nothing at all ... and this week we came literally within 10 handles of an ATH close on the cash SPX ... gimme a f'n break lol

    i understand the markets are not the fundamentals or the economy ... never was for as long as i have known

    but, still, this rally back to near ATHs has to be one of the most absurd things i have ever seen in my 10yrs in these markets man

    pretty blatant how rigged these markets are .... but hey, that doesn't mean there isn't money to be made either! no doubt there is always opportunity

    but as far as i'm concerned i am staying OUT of this piece of turd of market until the markets start operating on a more "normal" basis if i can even call it that lol ... the markets really need to go through their nature cycles (bull/bear markets, etc) and yes i realize we have had 2 major corrections in this past year ... but IDK if that was enough ... the cash SPX never even hit bear territory on either of those corrections ... albeit i know the small caps RUT and transports did

    i do wish all of you the best who are still trading this market though ... and do hope you guys are on the right side of the trade once this POS does turn ... but again i wouldn't mind to see another nice market collapse again lmao ... but not wishing anyone get burned either! ;)
     
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  13. OldFart

    OldFart Well-Known Member

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    @Cy McCaffrey

    I agree totally...I'm still trying to figure out the end game here with all the manipulation. The "have nots" out number the "haves" about 99.99:1, so causing a global market crash / depression seems dangerous for the super rich. The "let them eat cake" mentality is gaining among them though.

    That's why I think they are supporting this market. They cannot have a global meltdown, because the "have nots" will rise up and take it all back.
     
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  14. Talon

    Talon Member

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    Low interest rates is propping this mess up. Bad job # = No rate hike = Nowhere else to put money and get yield

    Only a matter of time when this baby goes down at this rate. Market has been irrational for much of the year and on brink of a collapse imo. If the economy starts to slug like I think it will, this is gonna be a house of cards.
     
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  15. OldFart

    OldFart Well-Known Member

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    oil pulling back again
     
  16. OldFart

    OldFart Well-Known Member

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    WBA walgreens up on news FTC may allow rite aid buyout
     
  17. OldFart

    OldFart Well-Known Member

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    UUP seems to want to go higher....could be why USO pulled back a tiny bit, then settled down again around $12
     
  18. surfsup

    surfsup Active Member

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    I'm with you. I've been trading since the 90s. I also feel things are not right but I also admit I have seen a lot of fakeouts these days and that seems to be the pattern to look for. So these days I look for an ATH 2-5% above the break out on a stock I think shouldn't be there and I short it because there's a fakeout a good percentage of the time and an astute trader can capitalize on it. the higher she goes, the harder she falls...
     
  19. surfsup

    surfsup Active Member

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    I think oil is in a big bearish wedge and the unwinding will take it back down to the $30s, then she'll adjust and rise from there. I also think oil will need a lot of time to get back over $100. Alternative energy is supplementing world demand pretty well and in the next 5-10 years we'll see battery tech grow leaps and bounds. I will have an electric lawnmower, car, etc soon. I already have a 5.1k system on the roof. I already have various Ryobi battery lawn tools (trimmer, etc). Good luck oil, your reign is over....
     
  20. OldFart

    OldFart Well-Known Member

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    I think we still have a long way to go to get rid of oil...maybe 20 or 30 years...
     

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