Earnings look good for NVDA but the problem is everyone expected them to do well, when it is the case then it is very hard to impress anybody A beat and raise as expected but I guess we didn't get the blowout guidance like we did in the previous quarters
I guess it was somewhat an encouraging for the market when the SPX is barely red and NVDA is having a pretty bad day
Damn, I can’t believe we’re now through the Labor Day holiday (aka the unofficial end to the summer). Sad! Feels like time is just racing on by now. Hate it. With schools starting back up and people returning from summer vacation, I’m wondering if it will translate to a little more interesting market action. We had a little taste of good ‘ole volatility early last month. But that did not last long at all. FED and earnings season now in the rear view for now, I’m not sure what catalysts will get things moving convincingly in either directions outside of something outta left field. September has had a history of seeing some notorious volatility in past years. But this year hasn’t really followed the historical norms. Let’s see how things play out this month. I’d be a little surprised if this market is to just continue northbound with little pullbacks from here. Pullbacks are healthy. Think we get NFP’s this week, otherwise not really a whole ton going on... Hope everyone is doing well. Was really good seeing you chiming in here @Smokie thx for your inputs, and you as well @stock1234. Missing @Frankenstein again. And wondering if we’ll see @anotherdevilsadvocate check back in here at some point before this year is out. Best of luck to y’all’s in these final 4 months of the year. I think this month and possibly next could see a return of volatility again, but seems like we’re in position to see a good ‘ole fashion EOY rally absent any black swans, etc.
U.S. stocks on Tuesday dropped as September, a historically weak month for markets, kicked off with renewed worries about an economic slowdown following soft readings on the manufacturing sector.
Well September usually is a bad month for stock so we might actually see some volatility again this month The jobs report this Friday could make or break for the market although I don't really trust the data that much and we always get big revisions a month or two later but the traders will always trade on the initial data and ignore the revisions later on Anyway the ISM services data and the jobs report tomorrow could be pretty important, if the numbers are bad then I could see a similar if not bigger correction than the one in August. For now my bet is the economy is still holding up okay but who knows lol
Jobs report revision: US added 818,000 fewer jobs than believed (yahoo.com) The NFP number wasn't too bad I guess but I think more and more people realize these initial numbers are pretty meaningless when we keep getting big revisions later on
Agreed. And if you think about it with these reports and their inaccuracy, you get to play off the initial report and whatever it contains….and then again when it is revised as always. Every one of the reports has some action/reaction to it. Disclosure: I”m not into trading so I could be totally wrong about that, but I’m fairly sure some do.
Also, a little shoutout to Stock1234. I always enjoy your posts in this thread. Good balanced commentary over a lot of market topics and a good dash of humor from time to time.
stock market rally suffered its worst weekly losses in more than year, sending highly bearish signals. The S&P 500 went from the cusp of record highs to clearly below its 50-day line. The Nasdaq plunged below the low of its Aug. 13 follow-through day. Investors are worried the economy is sputtering and that the Federal Reserve may be behind the curve. Meanwhile, the sell-off in artificial intelligence stocks, led by Nvidia (NVDA), intensified.
According to Bespoke Investment Group, October has historically been the month where the biggest stock market surges have begun. “This should make sense intuitively given that August and September have historically been weak months and the market has always eventually bounced back from sell-offs,” according to a note on Friday. By its tally, there have been 61 rallies of 10% or more since World War II, and 19 of them started in October. That’s a third of the total and well above any other month. March has 10 while all the other months are in the low- to mid-single digits.
Thanks for the kind words @Smokie , although I don't post a lot in the long term investor thread, you guys are posting a lot of great information there and I read them most of the time when I visit this site
Yeah the market seems to trade on the initial report most of the time then just ignore the revised numbers most of the time, I feel like it is kinda strange lol In recent months though seems like the market is paying a little more attention to the revisions.
Bought some at $30.48 last Friday on the speculation that it is joining the SPX and it is paying off for me today although I also bought some WDAY on that speculation and WDAY didn't get in lol
^ This 1000%! Couldn’t have stated that any better. Stock1234 is (imho) what WXYZ is on the long term investor thread. He is the cornerstone of this main daily discussion thread. Always greatly appreciate his market commentary and inputs. Big time shoutout to ya @stock1234
Pres. debate tonight. Not sure if we’ll see any meaningful reaction to that. Maybe a little in the futures markets tonight. I think we get inflation #’s in the AM? But might not be the big mover that we’ve been accustomed to seeing on those prints in past years, unless the numbers are much higher or lower than the consensus. Seems like the FED is dead on set to cut. Whether it’s a quarter point or half looks like we will finally see it as we enter the very beginning stages of the next FED easing cycle. Hope y’all’s are doing well. Markets have been kinda all over the map lately lol. Let’s see how the rest of this week pans out.
LOL thanks for the kind words Cy. To be honest there were many better traders than I am posting here before but unfortunately a lot of them aren't that active anymore, let's hope we will see some of them coming back in the future
Yep CPI will be interesting tomorrow although the number tomorrow isn't as hyped as the ones before since it would take a very hot/cold number for the FED either not cutting at all or they are gonna do a 50 bps instead of 25. A much softer than expected number might actually be negative this time since the market is getting more worried about the potential recession now than before
