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 on this final trade day of this week! https://www.reddit.com/r/StockMarket/comments/s9b5f1/121_fridays_premarket_stock_movers_news/
BTFD certainly not working out too well this year so far lol. Sold CRM for about 0.5% profit earlier today. Still in profit with LOW but probably selling before the closing bell. Let's see how the FED will move this market next Wednesday, if the selloff continues into the FED meeting, would they try to sound less hawkish?
AMZN down over 4% again, who would have thought you would be losing money holding for AMZN for a year
Starting to get interested in names like PSFE and STNE though, they seem to be beaten down almost badly enough
For those of you who are bored that the stock market is closed for the next 2 days, the cryptocurrency is also crashing
Happy weekend Stockaholics! In case any of you missed it yesterday, here are next week's most anticipated earnings releases as well as the highest volatility earnings releases courtesy of Earnings Whispers for this week as earnings season starts to heat up in a bigly way from this week: And here is the big monthly view for the next several weeks out: Meanwhile, here is the market week ahead thread which is now up on Reddit for anyone looking for a quick read over this coming weekend: https://www.reddit.com/r/StockMarket/comments/sabi6i/wall_street_week_ahead_for_the_trading_week/ Have yourself a wonderful weekend ahead folks. And here's to another crazy amazing trading week for y'all's this week! Will catch up with y'all's same bat time, same bat channel bright and early in the AM on Monday. Oh and super sorry for this late post in here. I usually like to have this posted earlier in the AM or even on Friday after cash market has closed for the week. But, lately things getting a bit busy on the IRL front. Should hopefully be calming down some this coming week.
Hey, so just wanted to quickly throw in here this follow up post. So it looks like that break of both the trend line and horizontal resistance on the Nazzy really cratered in a bigly way there the past 2 weeks. Wowza! Very nice. That being said, I will admit that I did get short Spuz contracts from an initial 4705 entry, but ended up getting stopped out at 4603 on the bounce capturing about -100 handles of downside profit. But, sure enough unfortunately I did not quite reap the bulk of this downside move. Of course it's the 'ole "coulda/woulda/shoulda" game which I'll stop short of doing here as it's very easy to make the call now looking at it in hindsight AFTER the FACT. But, admittedly will say that my initial intuition from the very outset of this market pullback move was to stay short until at least around the 200 day moving average, which sure enough it hit and then some this past week lol. Of course at the time, I didn't know if that was gonna all come in a one fell swooping action as it did lmfao. No worries! Still did end up being a very healthy profit as my 2022 has started off with a bang of a winner so far. Could it have been a far greater move? Sure could have. But hey, I won't beat myself over missing out on that in the least here. That's the one thing that I honestly feel no one should ever feel after having decent winner. Hence, why I see so many traders that I've come across in my time who will often try to put on a trade after a nice winner, and lose their shirt entirely cause they can be so "overconfident" that they will be able to easily repeat said winning trade again. I'm very much "different" from your typical/average Joe in that regard, as I don't often have those "feels" or "urges" if you will to trade everyday. If I have a nice winner, I'll gladly take it and run with it, and may not put on another trade for weeks or months again, etc lol. Though, ofc seeing Spuz drop from that 4600-ish where I exited, down to 4400 (another over -200 handles of downside move!) did admittedly have me kickin' myself just a smidge ngl there lmao! But, it's all good here. At least I had the right idea there though so that's cool. But anyway, now that price has indeed crossed and even closed below that 200 day average. I now feel like this market has officially been broken. What do I mean by that? Unless price can quickly recapture the 200ma, and repair some of the damage it has done this past week, it's looking like this pullback could actually turn into something far greater, and not just bounce back to new ATHs again like it seems to have done for an umpteenth amount of times during the length of this 13 year bull run. Like "bear market" kinda greater lol. My first target I think will be the -10% correction level, which already has been achieved in the Nazzy and Rutty. But, think Spuz will def. join the correction par-tay now. Buuuut! Not w/o a little ded cat bouncing action first! Cause, while this pullback has been pretty swift and massive. I still continue to believe that despite my rationale for this market pullback we're having from the ATHs (which for me was basically all FED related). Nothing moves in a straight line forever, amirite? So, I'm actually looking for a bit of an oversold bounce very soon, before downside activity is to resume. Thus, I'll still be looking for short here on a bounce, as I continue to remain in this STFR (short the fuckin' rips) mindset for this year, as long as the FED remains p status quo with its policy this year. Cause at the end of the day, for me at least, it's really ALL about the FED. My rationale from the very outset of this market pull was due to the FEDs now thinking of withdrawing that COCAINE FIX that this market has been addicted on since the GFC (great financial crisis) of 2008-09. It's been very much refreshing to see this action of late. And not that always up fabricated rally we've had for much of this 13 year run higher. This week is FOMC week, so a p important meeting. We'll see if there's any changes at all to their verbiage post market selloff of late. I'm thinking not, but we'll have to see. So far, this market pullback, while definitely has exceeded my expectations on the speed of it at least, is materializing as I was feeling from the outset. We'll see if we finally get that oversold counter trend bounce move, which I feel will be very short-lived. Maybe a day or a few a max. before the downside resumes. What a fun and crazy start to this new year 2022 has started off already! Volatility ftw! Yowza lol. Thanks again for reading for any who took the time to read my wall of text here. Will try to check back in here if/when I do re-enter on said on Spuz. Which I'm potentially eyeing on a decent cat bounce. Oh BTW, for anyone wondering where the indices stand on said pullback/correction as of closing print this past Friday. This is taking it from the ATH "intraday" prints, and not from the "closing" levels which I know is more traditionally accepted. I'll see if I can post the one with the closing levels too. But, anyway, if we're just taking it from the ATH intraday, cash SPX is now off -8.73% from Friday's close. But, take a look at both the Naz, and Rutty. Rutty now just less than -1% away from entering bear grounds! Wowza lol. Verrrry interesting. Ngl, and I know this may come across as a bigly time stretch from some, given where things are right now at least. But, I seriously wouldn't rule out up to a -50% haircut in the majors on this market dip until all is said and done. But heck, that's reeeeally putting the cart before the horse here so I'll maybe stop short of saying that with any real conviction (for now) at least haha. Oh and one last chart in here for y'all's! Sorry. I really wanted to just end it there. But, feel this may be important to note as well. Not my own chart here, just something I stumbled across my Twitter news feed the other day (sorry lost the source) but anyway, this chart is admittedly over a day dated, as it doesn't include Friday's drop. But, just to give some kind of quick visual for those wondering what the average max pullback YTD looks like for the cash SPX. As aforementioned, cash is now off nearly -9% from the ATH intraday, but thus far this market pullback is very much "inline" if you will, as far as calendar year max pullbacks are concerned. Where the average max pullback to a year is actually around -14%. So, another -5% of downside would still fall inline of the average max pullback for the full year. Ofc, I'm not in any way suggesting it just stops on a dime at that -14% threshold. If you ask me, I think hella lower levels ahead from here on out. But, that it won't happen overnight. These things tend to be a process of sorts. Much like when things are going up too. So anyway, keep this chart in mind whenever you might think this pullback maybe has gotten a bit long in tooth if you will. Yes, both the Naz and Rutty have already come off quite aggressively as it is, but that sure as hell doesn't just mean it stops here lol. Just sayin'. That is all, carry on.
Agree with you there, need to recapture the 200ma by end of month. If market can do that, then it's just a "test" and not really a break no matter how far we go below it intra-month. Last week caught me off guard, ended up going back to flat for the YTD after being +10% in the first 2 weeks. Not a problem for me. I was expecting a pullback too, but was certain it would not happen in January so I held on too long last week. We'll see how high VIX goes this week.
I've missed these I was also caught off guard @anotherdevilsadvocate -- I did not expect the indices to cut right through the multiple TLs & floors like they did. Thought we'd see at least a little hesistation. I'll be watching what happens on Monday closely; I need to tidy up an IWM credit spread I have out until 2/18, so based on what happens I'll try to pull it closer to 2/4 or hopefully 1/28
Top of the morning Stockaholics! Happy Monday to all of you! And welcome to the new trading week and a frrrrrrrrrrrrrrrrresh start! Here is a quick check on those futures as we are just about 3 hours from the cash market open. GLTA on this Monday, January the 24th, 2022.
I know there is consensus that there will be 4 rate hikes this year...in fact the JP Morgan CEO said there could be 7 this year (https://markets.businessinsider.com...e-hike-interest-rates-7-times-jpmorgan-2022-1). But I'll take the under on that bet. This is the monthly chart of the 10-yr and the 30-yr. They have been going down for decades and rarely go above the 34 month ema; right now they are right at it.
Did we get the washout that we needed for a short term bottom? The SPX now in correction and the Russell in near market. If the sell off continues then maybe the FED won’t go overly hawkish on Wednesday
ShiftPixy shares are trading higher after the company announced the development of a robust non-fungible token gamification loyalty program, with plans to release it in 2022 as the company prepares for the launch of its Ghost Kitchen food brands. Jan 24, 2022 11:41a ET
