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 21st, 2022! https://www.reddit.com/r/StockMarket/comments/vhctk6/621_tuesdays_premarket_stock_movers_news/
If this biotech can get over this month's high, it will be into a big gap from last November. Had 4x normal volume on Friday.
I think you will get another chance for sure, we have more downside to go probably if we aren't seeing any turnaround for inflation trend.
Not much luck for the META shareholders, the market is way up today and somehow it is down 4% and making another 52 week lows
Was able to sell it for a tiny 0.6% profit, I will take it though, I entered before the crash on Friday so I didn't think I will be able to sell it today actually Now I sold it and we probably will see oil going to the moon lol
Yeah I think SPX back to 3700 too. SPX is on a 3-week losing streak. Today's gap up reset some oversold oscillators.
ProShares is launching a short bitcoin ETF this week (cnbc.com) Maybe it is a sign that bitcoin is bottoming soon
Top of the morning Stockaholics! Happy Hump Day to you all! And welcome to the new trading day and a fresh 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 22nd, 2022.
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 Wednesday, June the 22nd, 2022! https://www.reddit.com/r/StockMarket/comments/vi3ri3/622_wednesdays_premarket_stock_movers_news/ _________________________________________________ Morning Lineup - 6/22/22 - Giving it Back Wed, Jun 22, 2022 It was fun while it lasted. In the latest example of the two steps backward, one step forward market, most of yesterday's rally, which wasn't enough to erase the declines of the prior two trading days, is poised to get erased at the open. Besides the fact that it's a weekday and the market is open, there isn't much in the way of a catalyst for this morning's weakness. Oil prices are sharply lower with WTI down nearly 5%. Unlike most other days this year where equities and US Treasuries have moved in tandem with each other, Treasuries are actually rallying this morning. There's no economic data on the calendar to speak of today, but it will be a busy day of Fedspeak with Powell testifying in front of the Senate while Barkin, Evans, and Harker will also be speaking throughout the trading day. The quote above came from a letter to President Biden from Chevron (CVX) CEO Mike Wirth ahead of a scheduled meeting on Thursday between Energy Secretary Jennifer Granholm and US oil executives. The letter argues that the Biden "Administration has largely sought to criticize, and at times vilify our industry." Wirth goes on to note that "bringing prices down and increasing supply will require a change in approach" and that the industry needs "clarity and consistency on policy matters". Closing out, Wirth encourages President Biden that in addition to Secretary Granholm, he also "send your senior advisors to this meeting, so they too can engage in a robust conversation." Whatever side of the debate you are on with regards to energy policy, the current state of tension between the Federal government and the US oil industry can't continue. While expectations are low, Thursday's meeting will hopefully be more than a photo-op for both sides and instead help to bring some clarity to the strategy moving forward. This morning, the Biden Administration has proposed a three-month holiday from the 18-cent per gallon federal gas tax holiday. While it sounds nice, the majority of economists and industry insiders have said it will do little to ease pressure at the pump and may actually worsen the situation by increasing demand. One study from Wharton found that a ten-month holiday would save consumers between $16 and $47 in total. The current proposal is for just three months which would imply total savings that's barely enough to cover a McDonald's value meal! Despite the weakness in equity futures this morning and confusion surrounding US energy policy, oil prices are sharply lower. At a level of $104 per barrel, WTI has now pulled back 15% from its recent closing high on June 8th and has also broken the uptrend that has been in place since late 2021. Outside of the oil industry, just about everybody is rooting for this chart to keep moving lower. None more than Fed Chair Powell.
This morning, the SPX collapsed to 4717. I wanted minimally, 4700. So, I didn't enter long. I've learned not "to chase." The price has to come to what you want. If not, it's better to protect your money. There will always be another opportunity.
I think this is precisely the kinda of thing that separates the good trader from the great one's. And I have to say (this has been long overdue from my end here tbh as well) I have been really blessed to have witnessed watching you grow since your very initial days on the old community (HSM) @Frankenstein really do mean this bigly time. I think many newer guys (or dare I say, even some "seasoned" one's I've noticed on chats like Discord tbh) can get a bit too caught up in the day-to-day, and fail to stick to their game plan (assuming they had one ofc lol) for whatever the reasons may be. Perhaps inexperience? IDK. And have like zero risk/trade management what so ever which I feel is such a NO-NO. I've seen it all too often during my years where people will put on trades, for the sake of it (gut feeling, social aspect, you name it, etc), or on chat rooms like the aforementioned Discord platform that I am admittedly very active on most of the day. Completely fail to trade manage, and have very little to no game plan going into trades. Maybe 'tis only just me. I honestly don't know how anyone can trade without any solid game plan in mind. And not have any kind of trade management. Which is knowing when to get out if you're ever on the wrong side. Or, locking in your profits when said trade has gone your way and not being a greedy SOB. Also, and lookit I get it some people like to trade for the "social" aspect as mentioned above, but maybe this is where I personally differ from your so-called "typical" trader out there. For me, I could legit have a few really nice winning trades (like I did at the start of this year with shorting the eminis) and be completely fine with just taking the next few months off (which precisely is what I had done lmao). I get it trading can be addictive (especially if you're experiencing consistent winning trades -- who doesn't want to keep winning in that case? ), but trade management in my opinion is so imperative, and I think that gets lost sometimes with newer and even seasoned traders. Have seen it so many times during my years on Discord in particular, and it's not like I'll see one person doing that. But, have consistently seen this same shit over and over with many people it's almost mind blowing tbh lol. Post is getting a bit lengthy here which I apologize, but again I do want to give out some major kudos where it is most certainly overdue here. I think you are the perfect example for me of someone who doesn't trade on a whim (gut feel) if you will. Someone who goes into every trade with a solid game plan, knows their entry and exits and sticks to that always no matter what. Not even if said entry is close enough. But, having that discipline and keeping at it is soooo fucking respectable for me to see. Keep on kicking ass Fank! Has really been a pleasure seeing you grow as a trader since your first days on this community. Really do mean that and not just shitting you either. You da man.
Nice comeback for the market, futures were deep in the red before I slept last night Healthcare doing well, XBI up over 3% and ABBV is up over 4%. Lower oil prices and lower bonds yields are bullish for stocks I guess
Top of the morning Stockaholics! Happy Thursday to you all! And welcome to the new trading day and a frrrrrrresh start! Here is a quick check on those futures as we are just under 3 hours from the cash market open. GLTA on this Thursday, June the 23rd, 2022.
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 23rd, 2022! https://www.reddit.com/r/StockMarket/comments/vivjx7/623_thursdays_premarket_stock_movers_news/
Morning Lineup - 6/23/22 - The Flying Powell Thu, Jun 23, 2022 Nine years ago today, people all over the world watched with bated breath as acrobat Nik Wallenda became the first person to walk across the Grand Canyon on a tightrope. Technically, it wasn’t actually the Grand Canyon, but a gorge right near the Grand Canyon National Park. However, the 1,800-foot highwire trek across the gorge that took place 1,500 feet above the ground (without a net) was impressive. Wallenda’s Grand Canyon crossing came barely a year after an even more widely watched event where he became the first person to walk a tightrope over Niagara Falls. Talk about an ability to strike a balance! Nik Wallenda is just one of a long line of ‘Flying Wallendas’ that have for decades been known for their death-defying stunts that mostly involve high-wire acts without a net. Living on the edge is simply in their blood. Up until recently, Fed Chair Powell has been attempting his own ‘Wallenda act’ looking to strike a delicate balance between raising interest rates to fight inflation and avoiding throwing the economy into recession on the other. Just like Nik Wallenda’s walks over the Niagara Falls and The Grand Canyon, many out there say that it simply can’t be done. Powell, on the other hand, remained optimistic up until recently, arguing in mid-May that removing accommodation and raising rates could be achieved with a ‘softish’ landing in the US economy that may be a ‘little bumpy’ but ‘still a good landing’. In the month since those May comments, though, Powell has sounded less confident, increasingly leaning on the recession side of the wire in order to prevent a fall further onto the side of inflation. Just yesterday, in Senate testimony, the Fed Chair noted that “We’re not trying to provoke, and don’t think that we will need to provoke, a recession, but we do think it’s absolutely essential that we restore price stability, really for the benefit of the labor market, as much as anything else." Wallenda ultimately proved all his doubters wrong. Is Powell’s balance anywhere near as good? Futures have been bouncing around this morning, but have mostly been in positive territory after yesterday's rebound from a sharply lower open. Jobless Claims were just released and came in very slightly higher than expectations at 229K compared to forecasts for 226K. Continuing Claims, on the other hand, came in 5K lower than the consensus forecast of 1.32 million. Looking ahead to the rest of the day, Powell will testify in front of the House at 10 AM, and the EIA will release Natural Gas stockpiles at 10:30. The release of crude oil inventories, which were already delayed by a day due to the Juneteenth holiday, has been postponed indefinitely due to system issues. Treasury yields are down this morning with the 10-year yield below 3.1% after topping out at just under 3.5% a little over a week ago. In the five trading days that ended yesterday (6/22), the 31 basis point decline in the 10-year yield was the largest since the COVID crash, although it followed what was the largest five-day increase in over five years.
XLE getting hammered again. Everything needs to be roll over first before the end of the bear market so maybe it isn't such a bad sign Biotech on a tear lately, XBI up over 5% again and so does ARKK, looks like those that got beaten down the most since last year are doing better lately
