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Discussion in 'Stock Market Today' started by T0rm3nted, Feb 8, 2021.
Wow we closed at LOD
Price action is looking like March. SPX ripped off 450 points in the 2nd half of the month.
Ok. I entered long at 3910 this morning--this is better than the level yesterday. Not perfect. But if it goes down, I plan to add more
Inflation Climbed More Than Expected. The Fed’s Job Isn’t Over Yet.
What peaked inflation lol Looks like a lot of those so called economists or the talking heads on TV got it wrong
Gold showing strength today on the inflation number despite we are seeing the dollar going up
I don't know what you mean here. I always get confused with these correlations. I think I understand if the dollar goes up, the SPX should go down. I don't know what is supposed to happen with gold.
At any rate, I mentioned some things on an "instinctive" level that should or should not happen from my perspective: the SPX before yesterday, should have tested 4400 or even 4600 and it didn't happen; the price should not have collapsed non-above 4000 and it hit 3900 today. So, this is all STRANGE behavior for a bullish case. At any rate, if it collapses non-above 3900, I'm in the "buying mode." But, this environment is excellent for challenging your investing and trading prowess.
Gold is generally inversely related to the value of the US dollar because gold is dollar denominated, so pretty often gold is down when the dollar is up, today seems like both gold and the dollar are up
Bought the dips a little bit today and will see if we see some kind of bounce next week. Generally still pretty bearish especially after that CPI number, the FED isn't getting dovish anytime soon
Oh, ok. So, it looks like Gold up, SPX up, Dollar down. And vice-versa. Cool
I am selling on Monday and sticking to day-trades.
Made a killing last week off LOVE and RDBX. Bought into LOVE the morning I saw it open Pre-Market down 25%, I ended up selling at +15.5% and then with RDBX, I did not get in early but I managed to hop in around 13$/sh and then sold at $14.13/sh, so about a 9.5% gain.
The market and the overall state of global economics is too volatile for me to stake any long-term positions right now. Will be waiting to see how things look a month from now. We should be getting close to that bottom.
Crypto has dropped another 15-20% this weekend. Not generally a good sign for when markets open on Monday.
We're entering panic territory. Glad I'm 70% cash.
I bought that dip. We'll see if it goes down more this month.
Technically stocks like AMD, ENPH are in bull markets having made +20% from their May lows. Right now they are sitting on the edge of going back to bear markets.
I am there with you. The only money I have in the market is my Staked ETH which I have been watching lose 10% a week for the last couple months now. I cant sell until Ethereum completes their "Merge," and Coinbase has to allow me the ability to sell. It's looking like Crypto could be in for a complete crash. It's getting very very ugly out there.
I am considering a Class Action Lawsuit against Coinbase for the way they marketed Ethereum Staking. It was never intended to be over 2 years before anyone could touch their money and there still isnt any kind of firm date for the upgrade to take place. Trading wont even be available after "The Merge," we will have to wait for yet another soft patch.
Dow lost 1000+. Some of these companies are dropping back to realistic prices.
Bought the dips last Friday not working out too well for me Let's see what the FED will do on Wednesday, maybe they should just hike aggressively now to get the pain over with ASAP
OK just bought the dips a little more today but just very little, I will try not to do too much ahead of the FED, this time it is rather unclear how much they will hike after the red hot CPI although they have said 0.5% all along