Ok. Out for profit at SPX 3795. Emphasizing profit taking and profit management. Time to re-assess the situation, post-FED accouncement
It could go up--but now that I'm 100% out, I want the price to collapse deeply again for another tasty long entry. It may not happen, of course. But, I'd rather preserve my cash rather being too aggressive. If you have cash, you can always fight another day.
Here is the relief rally Don't think we have seen the bottom yet for sure, inflation is still pretty much out of control
Atlanta Fed Slashes Q2 GDP Forecast To Zero Confirming Technical Recession | ZeroHedge US retail sales slow in May as inflation weighs on spending (yahoo.com) We are getting pretty close to a recession it seems like
Yeah, hope it's only a relief rally. I want to get back in but, relatively speaking, at a more meaningful buying level. Usually, this level and what has happened in the last couple of weeks should be rock solid--but in the current inflation-racked environment, I don' think, sensibly, it's as solid as it may\ should be. But, at around the SPX 3700 level, I'd be interested again.
Lost at least half my gains. I saw my account was at least +6% before the close. I'm thinking we get there in the next week. This week is set up to go sideways.
Well, you're probably in the wrong place to be rooting for stocks to crash and not piss people off lol. Since you dont have any money in the game, how about you stfu about the market crashing lol I went in hard on BAC before the announcement. Saw a nice 1-2% upward push. Definitely not holding past close tomorrow. Got to set my alarm and make sure I dont miss the squeeze. Will be keeping a tight eye on the trends up to 730-830am my local time. I have a feeling we could see another morning rally followed by an afternoon sell off. Seems like we see institutional investors driving up prices but then retail traders are using the brief boosts to sell, causing the price to come right back down. 2022= death of the retail trader. I wouldnt be surprised at all if the Market Cap for Retail Traders decreases by 75% as Stimulus money dries up and real-world inflation is forcing increased liquidity. Keeping a close eye on crypto too. Ethereum responded well to testing the 1,000$ level and shot up almost immediately back to the 1200-1250 area. Probably just another fake out before another 10% drop
One thing definitely affecting prices but that no one is talking about really is increased shoplifting. Liberals have basically decriminalized shoplifting. I took a part-time job at a retailer when I needed some income and was shocked during their training at their policies regarding shoplifting and theft. As an employee, you literally are not even allowed to confront the customer and/or inform them that you know they have stolen. You arent allowed to do anything except ask "Is there anything I can help you find?," "Are you ready to pay for your order?"... And what is even more sad about it, the customers seem to know the store policy regarding theft and literally just grab stuff off the shelves and walk out because they know the employees are not allowed to say anything. The amount of items lost to theft on a daily basis is 350% higher in 2022 than it was in 2019. (They did not record data for 2020 or 2021 due to pandemic) 350% increase, crazy. And I would think this trend is probably echoed in other retail sectors. It's funny, when traveling to other areas, I have even considered taking some items from this store now that I know their policy of "No Confront/No Chase." Liberal policies on crime are having a big role in inflation and retailers having to raise their prices. It's the ugly truth that no media outlet seems to have covered or acknowledged.
no. and not sure if you're being serious there. but fwiw, he is more than welcome to root for whatever he wants. has been a member of this community faaaaar longer than you have been here. and i and many others in this forum enjoy his daily commentary to this thread here. and if you haven't been following, he actually does have skin in the game (unlike me atm lol) and if i heard correctly from the other day, is at a new personal high in his account which i applaud greatly! keep up the good work @Frankenstein!! you have come such a loooong way from your earlier years here at the community that i remembered. so, do back off and pipe down just a tad there. sorry if that sounds a bit brash on my part, but kinda didn't like the way your post came off towards frank here is all. thx.
Top of the morning Stockaholics! Happy Thursday to you 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 Thursday, June the 16th, 2022.
@ddebrazza Hmmmm, I could take your biased advice about the liberal shoplifting agenda, or I could just look at data on this. Big retailers are not raising prices because of the handful of shoplifting incidents. Also, just some friendly advice, the reason stores don't let their employees confront people stealing from the store is for the employees safety. No gun will come from confronting or chasing. Best case scenario the person gets embarassed, puts it down, and leaves before the cops show up. Worst case scenario is violence against you.
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 Thursday, June the 16th, 2022! https://www.reddit.com/r/StockMarket/comments/vdl3ps/616_thursdays_premarket_stock_movers_news/
Morning Lineup - 6/16/22 - All I Do Is Lose Thu, Jun 16, 2022 We're not quite sure Wendy Byrde would have had 2022's financial market meltdown in mind when she uttered the three words above. The bad year has gotten even worse this morning as futures are already indicated to erase all of yesterday's rally. Making matters worse, economic data this morning was very weak as Housing Starts, Building Permits, Philly Fed, Initial Jobless Claims, and Continuing Jobless Claims all came in weaker than economic forecasts. Housing Starts, for their part, were down over 14.4% m/m. This comes a day after the Fed lowered economic growth forecasts and raised its forecast for the unemployment rate in yesterday's report of economic projections. Given all the weakness, it seems unbelievable that it has all come with the largest rate hike in nearly 30 years and promises of more to come in upcoming meetings. No one said coming out of COVID and all the stimulus programs would be easy, but they didn't have 2022 in mind either. We've been calling it the one step forward and two steps backward market for some time now, and yesterday and today provides another illustration of that pattern. After rallying over 1% following yesterday's Fed meeting, the S&P 500 is indicated to open down about 2.0% this morning, more than erasing all of Wednesday's gains. Keep in mind too, that even after Wednesday's rally, the trailing five-day performance of the S&P 500 was a decline of just under 8%. Assuming that today finishes in the red, the S&P 500 will have only traded up on 43.5% of all trading days this year. While that may not sound all that extreme, in the post-WWII period, there have only been seven other years where the percentage of up days in the first half of the year was lower, and the only two where the percentage was lower than 40% in the first half of the year were 1962 and 1970.
