I am sitting out a bit longer. I dont see things getting better any time soon. I could see a short squeeze situation Wed-Thur but I believe it will be short lived
https://mobile.twitter.com/WallStreetSilv/status/1535407950575157250?s=20&t=KPGZ1gm37PfNnBEGJlJn5w Funny to see how wrong they were on inflation
I expect tomorrow will be an up day, after 4 straight down days. Probably the best case for bulls is for basing action this week. Anything more is dreaming.
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 Tuesday, June the 14th, 2022! https://www.reddit.com/r/StockMarket/comments/vc2inv/614_tuesdays_premarket_stock_movers_news/
Yeah, I was really pegging on a rebound day today or tomorrow. Today doesnt look like it's going to happen so I am most likely stuck holding until tomorrow. Heavy on AMD Light on RDFN (RedFin) and PSEC (Prospect Capital Investment) RDFN continues its crash. Was hoping for a bounce today but I think now I will be lucky to just break even. Hopefully AMD comes through. I don't mind holding that a tiny bit longer as I feel I have a good price.
Let's see if we will get a relief rally tomorrow even if it will be short lived An interesting day tomorrow for sure since we have no idea whether the FED will go with 50, 75 or 1000 bsp hike this time around
Fed likely to hike rates by three-quarters of a point this week (cnbc.com) So far seems like a 75 bsp hike is expected although Powell has said 50 all along before the CPI last Friday
This is what I am expecting. I wouldnt even be upset if they really try to jump out in front of this speeding train and go with 1000 point rate hike. The market should respond positively as long as they dont announce a 50bsp raise. I think the Fed knows they have to make a bold move. We wont see a real rally until Ukraine and Russia come to some kind of terms to end the War. The markets hate uncertainty and with the entire world being closer to World War 3 today than we have ever been before, it makes sense that consumers want liquidity. Ive had to start putting all my fuel purchases on credit. A trend that Finance sector CEO's have been noticing across the board. This is not a good sign AT ALL. What are we all going to do when these credit cards are maxed out, gas prices havent gone down much if at all, wages have risen but no where near enough to make up for inflation. I bet we will see the Used Car market get some relief as people who purchased New cars or Used ones when they had an excess of money are now forced to liquidate assets they can no longer afford or simply need the money from. Should drive down the price on Used cars quite a bit.
FedEx (FDX) Increases Quarterly Dividend by More Than 50%, Appoints Amy B. Lane and V. James Vena to Board of Directors (streetinsider.com) A pretty big dividend hike from FDX
Lots of news from FedEx this morning. Changed up their Board a bit too. I was too scared to make the play. I saw it up about 6.5% when I woke up but didnt feel comfortable jumping in. Was one of the few bright spots of the day. I managed to buy AMD at the close to the highest possible price today at 88$. Like the position but could have gotten in a bit cheaper.
Top of the morning Stockaholics! Happy Hump Day to all! And welcome to the new trading day and a frrrrrrrrrrrrrrrresh start! Here is a quick check on those futures as we are under 3 hours from the cash market open. GLTA on this Wednesday, June the 15th, 2022.
just a super quick reminder for all that we have the fomc meeting announcement @ 2pm eastern followed by the jpow presser @ 2:30pm eastern time today.
Morning Lineup - 6/15/22 - Fed Up Wed, Jun 15, 2022 With last week's CPI report behind us, the market shifted its focus to the FOMC rate decision, and that day has now arrived. Futures are higher heading into the report, but we just got a slug of economic data (Retail Sales, Empire Manufacturing, and Import and Export Prices). Overall, the results weren't pretty with Export Prices the only indicator that came in higher than expected. Both Philly Fed and Retail Sales were not only weaker than expected, but they were also negative at the headline level. Economic data is going one way (down), and interest rates are going the other (higher). In today's Morning Lineup, there's a lot covered as we discuss the latest moves in crypto (pg 4), the ECB emergency meeting to address spreads widening in peripheral countries (pg 4), a preview of tomorrow's BoJ meeting (pg 4) and today's Fed decision (pg 5), a recap of market moves in Asia and Europe (pg 5), overnight economic data in Asia and Europe (pg 6), and much more. After four days in a row of 1% to multi-percentage point daily declines, yesterday's 0.38% drop in the S&P 500 almost seemed like an up day. Nevertheless, yesterday's decline was large enough to bring the S&P 500's five-day decline to over 10% which is a magnitude of decline we haven't seen since the COVID crash (when there were multiple). The chart below shows the S&P 500 (on a log scale) going back to 1960, and the red dots indicate any time when the trailing five-day return was greater than 10%. What's really interesting to note about this chart is that prior to 2000, the only times since 1950 that the trailing five-day decline exceeded 10% were in May 1962, October 1987, and August 1998. Since 2000, though, these types of declines have become much more commonplace with spikes in downside volatility occurring every few years.
thx mucho for that guys! and yessir to that @Value543 pretty pumped up and rrrrrrrrrrrrready to go for today's fomc! lezzz gooo!!!!
I had been averaging in since entering at SPX 3900 and on the pop this morning, I exited totally at 3785 for profit taking and risk management. I'm now at a new all time high for my account. But again, as yet, not as profitable as I'd like. But, I don't know what to think about what's going to happen today.
We didnt get a bounce yesterday, so I am holding out for one today. I am glad I am getting some upward movement from AMD today. Almost 60% of my portfolio now, 30% went into BAC at under 32$ a share. I couldnt pass it up. I am definitely addicted to stock trading. I keep meaning and intending to take my money off the table, but every day I find at least 1 stock that I really like smh
No big movement yet today but I will take the slow, steady grind upwards. the ol' up 1.5, back 1.4 game.
