Got out of some long positions mostly at tiny 1% profit earlier today, didn't want to hold anything for too long now due to elevated volatility Added some SH at $14.15 as hedges, at least I don't suffer as much with my long positions if the market continues to go down
CME pretty close at 52 week highs, it might benefit from the volatility that we are seeing right now VIRT is another name that could benefit from high volatility environment
QQQ in correction territory now I think, IWM not too far away from the bear market territory The banks are breaking down a little bit, value stocks still too close to 52 week highs for me to get very interested though
LOL I am far from an active day trader, pretty sure a lot of people on this forum are daytrading a lot more than I do, some people get in and out within minutes but I rarely do this. Most of the time I am making trades at work although I am working at home now until further notice. Just getting in and out a lot more often now due to high volatility
Top of the morning Stockaholics! Happy Thursday to all of you! And welcome to the new trading day and a frrrrrrrrrrrrrrrrresh start! Here is a quick check on those futures as we are just over 3 hours from the cash market open. GLTA on this Thursday, January the 20th, 2021.
Morning Lineup - Another Attempt At An Advance Thu, Jan 20, 2022 The set-up in pre-market futures looks similar today to what it looked like yesterday, but hopefully, the outcome isn't. After trading up as much as 1% in early trading yesterday, the Nasdaq quickly gave up all of its gains and more throughout the trading day and finished down more than 1% by the closing bell. Economic data just released includes jobless claims and the Philly Fed. Regarding claims, both initial and continuing claims came in significantly higher than forecast, while the Philly Fed actually surprised to the upside even after the big miss from the Empire Manufacturing report earlier this week. Recent weakness in the market is starting to show up in sentiment surveys, though. In this week's survey from AAII, for example, just 21% of respondents reported as bullish while 46.7% were bearish. In terms of bulls, that's the lowest reading since July 2020, and for bears it was the highest reading since September 2020. The Nasdaq made it official yesterday and reached the 10% threshold for a correction. In the post-global financial crisis (GFC) period, the current period ranks as the 14th correction for the Nasdaq with the most recent before the current one spanning mid-February through early March 2021. Overall, post-GFC Nasdaq corrections have seen an average total decline of 15.2% over a span of 53 days. The median during this period is a bit milder at 12.0% over the span of just 36 days. Going all the way back to 1970, the ‘average’ Nasdaq correction has seen a total decline of 19.5% putting them just shy of bear market territory (median: -16.6%) over a span of 75 days (median: 60 days). At just 10.2%, therefore, the current correction is still more modest than average, but at 61 days its been longer than average for the post-GFC period.
The pre-market thread is now up on Reddit for anyone looking for a quick read before today's cash market open. GL to y'all's trading today and rest of this week! https://www.reddit.com/r/StockMarket/comments/s8j4wu/120_thursdays_premarket_stock_movers_news/
The FED could be in a tough spot next Wednesday if this market continues to sell off until their announcement on rates next week
I haven't looked at the earnings but NFLX currently down over 8% AH, maybe they miss or disappoint on subscribers
Yeah that was a big reversal, I got caught in it. Hey Marko Kolanovic said to buy the dip last week... SPX took out December's low, just as NDX had already done. I think the selling will continue until the Dow takes out December's low too.
Yeah the banks are starting to look weaker lately although the DOW and value stocks have outperformed the NDX and the SPX We probably will see a 10% correction for the SPX, just about 3% away from it.
Top of the morning Stockaholics! Happy Friday to all of you! And welcome to the final trading day of the week and a frrrrrrrrrrrrrrrrresh start! Here is a quick check on those futures as we are just under 2 hours from the cash market open. GLTA on this Friday, January the 21st, 2021.
Morning Lineup - 1/21/22 - Not Even Pretending to Rally Fri, Jan 21, 2022 The quote above illustrates that shortages of labor are not just an issue facing the US economy as aging populations, an acceleration in retirements and closed borders due to COVID shrink the available pool of labor in many countries. While not necessarily a concern in the present moment, these trends are long-term challenges facing advanced economies as birth rates around the world decline. In markets today, unlike the last two days where futures traded higher only to reverse lower throughout the trading day, they aren't even pretending to rally as all three major indices are firmly in the red. Equity markets are currently trading at extreme short-term oversold levels, but it's going to be hard to convince investors to take a stand on the market heading into the weekend. This year's sell-off in the Nasdaq is really starting to rank up there in terms of the worst starts to a year for the index in its history. With a decline of 9.5% YTD, it is one of only six years where the index has been down more than 5% in the first 20 days of the year and the third sharpest YTD decline ever. The only two years that experienced a sharper YTD decline were 2008 (-11.8%) and 2016 (-10.7%).
