Funny that even the foreign markets (Nikkei, DAX) have a big bearish engulfing day. Why does the Fed get to do their reports during the day? But the companies have to report after hours. I'd heard after hours reports was to minimize the volatility of trading off of the reports. For the record, I wouldn't mind if they all got to report during the day.
ER days are a stressful day for the companies. They reveal their results, and face questioning into their business plans. You going to make them stay after hours to do this, after an already full work day?
It isnt my biased advice about shoplifting. It is my personal experience from working for a certain retail store. It isnt a "hand full," of shoplifting incidents. Every single store in the state of Arizona has seen at least a 300% increase in loss' related to theft. A decent number of stores had numbers over 1000% If you dont live or operate in that space, it would be easy to chop it up to conservative propaganda but I have seen it with my own 2 eyes and it is definitely forcing retailers to increase their prices. About 10-15% of stores were forced to hire security staffing for the first time in an attempt to slow losses.
Whew. Today has not been pretty I am glad all my money is in BAC. Not many stocks in the green today. I am sitting at flush right now but ready to pull the trigger if need be. Was hoping BAC would get over 32$ but maybe not today. Going to give it about 40 minutes and see what happens. We had 10 consecutive green candles so I am hoping I am just seeing some consolidation before an afternoon rally. If my modeling is accurate, 31.58 is the floor for today. Should close somewhere between 31.75-32.25
Got in some SPDN at $17.09 yesterday, looking good so far Gonna be pretty hard to find the bottom soon for this market when inflation is so bad now, it is a payback time for QE but I guess at least there were people have taken the advantages and made some money during the QE bubble
Energy is down big today despite oil prices stay elevated Picked up some MPC at $91.73 to see if we will see a bounce tomorrow or next week
My chart theory says that 3850 should be the target at some point for swing traders--I bought today with the expectation that 3850 should be tested at some point
Cruise stocks scare me. I have been watching them for a long time now but have never really regretted NOT playing them either. NCLH is the one I have specifically been looking for a good entry point but just havent found one relative to market conditions. I broke my BAC down a bit before close and split it between AMD/ ALLY and put a little to play in PRTY Maybe tomorrow will be the rally back/ Squeeze day we thought Wednesday was going to be.
Top of the morning Stockaholics! Happy Friday to you all! And welcome to the final trading day of the week and a fresh start! Here is a quick check on those futures as we are just over 4 hours from the cash market open. GLTA on this Friday, June the 17th, 2022.
(Just a quick reminder in here: US cash markets are closed this coming Monday for the Juneteenth holiday with Globex futures operating on an abbreviated session. Halting at 1pm eastern on Monday before resumption of normal trade hours at 6pm that evening. Enjoy your long 3-day weekend.)
In the gold market, the DXY double topped from a month ago; here's the related UUP chart If the Dollar turns down, then Gold looks like it's going to be strong.
A mixed day but mostly green, I will certainly take it after the pounding we have taken. PRTY is up over 16% on the day so I exited that position. I am now split pretty evenly across the board with BAC/ PLD/ NKE/ and GOOGL , actually staking some long positions today. I am sure there will be more opportunities to average down, I went in very light. I am a bit more optimistic today than I was yesterday.
Wow oil down big today Seems like a weak day for commodities overall, it could help the market if commodities stop going up like crazy
Looks like the best performers are those stocks that got beaten down the most and the bear market actually started for them already last year while the big caps were going higher. ARKK up over 5% and XBI up over 6% for the day
Have a good weekend guys and see you all next Tuesday. Let's see if we have seen the peak for oil, Jim Cramer has been so bullish for oil stocks so maybe another kiss of death from him lol
Indeed -- thank you yet again, Jim! Really need to add that guy to our Christmas card list; after all, he's the one essentially buying them for us!
