obama just issued more terrifs on steel at the G7 meeting, i figured X would pop today from it. have you seen the run those stocks have had? XOM in particular, it never really went down when oil was in the dirt.
thank you sir! yowza was that a ever a weird little 6 week stretch for me there lol ... my bad you guys ... that won't happen again in the future i can assure y'alls that ... the next time i go on some strange hiatus like that again i will at the very least be informing some you guys well before i actually disappear off into oblivion ... which won't be anytime soon however =p i noticed some of our other long time regulars of this community have been chiming in recently as well ... @Rock Sexton and @Brendan Cowie i saw posting here yesterday just to name a few! its pretty sweet to be seeing you guys back at it again man ... you two were a few of our prominent members of the old community ... so to see y'alls back at it here is a real treat for this stockaholics community imho ... thx for making this the premiere stock community boards on the 'net! and course not to leave out any of the other old timers and new regulars here as well! keep up the awesome work in making this place great as always! you guys rock! thx @OldFart appreciate it ... its good to see you still here and kickin'! hope to slowly make a full comeback here soon
sheesh.....bought some calls, and laptop died...now using an old POS computer with win 8...slow as piss
@Cy McCaffrey @OldFart and @Tiptopptrader A little idea: If you guys can keep track of the good calls, trades and terrible failures that have been posted here, I can make a weekly wrap video giving a shout out to all the glorious gains and losses! Just give me a summary and a link to who said what and when, I can put it all together!
Data is good, market is rallying... Can Fed find a better time to raise rates? I think they should considering they already signaled they would if the data is good. Otherwise, they will ruin their credibility even further... Having said that what do you guys think about investing in DUST prior to tomorrow/Yellen? I already have some SPXS to hedge my long positions but I figured more DUSTy days might be coming. I will probably get some today and buy more or sell all tomorrow depending on what Yellen says.
ER due for release after the close today and premarket tomm: $PANW $ULTA $GME $BIG $JKS $SPLK $JASO $DECK $VEEV $VNET $CAL $SVA $LABL
Welcome back @Cy McCaffrey , very good to have you back. This is a solid community, and even better united.
re: Financials -- I think you're right, at the least buy the rumor sell the news. Are C, BAC the two best to look at right now? Agreed that the markets are accepting a rate hike. But until the Fed watch gets over 50% probability then the market hasn't accepted a hike in June. There's a long way to go until a hike in June. They'll be talking until I'm blue in the face.
FWIW, Fed Gov. Powell just came out and said he supports a rate hike soon if economic data stays on track.
i hope they raise in june, even if the dollar rallies, the market should tank and gold can reign supreme once again.
Yes I feel C and BAC would be the front runners and to get some good Divi's then JPM and WFC would be a good choice. I put my money down on BAC because I think it can hit my exit price faster. Hard to say if the rate hike will come in June but it will happen and we had a recent sampling of how it moved the financials.
You're exactly right - it depends on which time interval you trade. When you zoom out on a monthly though - it's clearly still in an "uptrend" and back inside the channel after brief breakout from it in 2014 thru 2015. In zooming in on a 3 year weekly chart to get a better idea of the current structure of the move, the shape of the volume profile is close to that of a "P" - which is trend favoring and bullish in nature. In a "P" shape the POC (point of control) will always be towards the top indicating a more contained bell curve. Notice the dashed support line drawn on the chart. Three times now in the last few years it's tested it on high volume and found support each time. Thrusting candles signal short covering of trapped sellers and influx of natural buyers. Over a much longer time frame it could prove distribution is occurring within the range, but again the structure doesn't support that notion. That dotted line which Wyckoff would refer to as "The Ice" would need to be broken to support your previous stance sellers have overtaken the market. Notice the decline in supply after the last sell climax in Jan-Feb 2016. Demand volume here In May would have needed to take a dive to support the notion of SUPPLY > DEMAND. Instead it's maintaining and now the price action is back within' the old range of the 3 year POC. Wyckoff refers to this kind of activity as a "Spring". This is what we know: 1. Verified long term monthly chart uptrend 2. Weekly chart shows bullish volume profile structure where the stock is trading within a new auction i.e. range 3. Subsequent rallies after the sell climaxes with candle thrusts have NOT yielded a significant decrease in demand volume. In regards to this week's volume - it's not as accurate given that we're heading into a holiday weekend. Trading is always typically light.
