AAPL down over 3% again, great company but it is crazy how fast this thing went from 1 trillion to 2 trillion market cap
NAS Futures attempting to form a bottom now. The test of the 11575 area looked good for the Bulls side today.
At about 10:37 pm Chicago time, the Nasty is looking kinda bearish. The spring is taking too long to get out of the danger zone; lack of demand. The failed test of the 11575 area could be a Last Point of Supply (LPSY)...not bullish...would have been a good location to short once it failed to break above the preliminary demand (PD) line. The second lowest risk trade is to short here. Hourly sticks:
Quite a lot to read. I guess the deal isn't so bad on the surface. GM isn't so stupid. They aren't completely bamboozled. Nokia is suppose to pay GM. If Nikola fails to pay GM, GM shuts down the project. This deal is a springboard for Nikola to raise it's profile. Gives Nikola an opportunity to raise more money. Without doubt, Nikola will now try to get $700 million from investors. My opinion is that Nikola will probably raise more than $700 million. They will probably waste a lot more in resources, supplies, materials. Most of those vendors will not get paid, and they will try to sue GM for collection. Nikola will fail to pay GM. GM will pull the plug on the project, with nothing. No end product will result. Most of the money will not be accounted for.
At least short-term important level here yesterday for the S&P. Triple tested support, plus the 50MA at this level.
Markets looking bearish this Fryday morning. We'll see what the open brings. S&Pee E-mini futures-Hourly Sticks ~7:55 am (chicago):
@A55 Did you see the part where GM can immediately sell shares they are given up to 1/3? it’s like free money to GM.
Wow NNOX on a tear again. Sold half at $57.60 to get my initial investment back, now the rest are free shares
Tech investors await IPO bonanza next week, highlighted by Snowflake and Unity, even as market looks shaky https://www.cnbc.com/amp/2020/09/11...-week-highlighted-by-snowflake-and-unity.html Could be an exciting week next week if you like to play IPO
UPDATE: Short seller Hindenburg alleges that electric truck maker Nikola is an 'intricate fraud' in new report https://www.marketwatch.com/amp/sto...s-an-intricate-fraud-in-new-report-2020-09-10 Shares down 15% for the day
hard to believe it has already been nearly 2 decades since the 9/11 atrocities interestingly enough, this day has actually been quite bully for the market since 2002. pulling this chart from the bull thread, which is originally from stock trader's almanac. there have only been 3 red 9/11 days since then, and those days were hardly even red (at least for the spx). not to jinx today's close but so far we are green.
