Daily Discussion - Main Discussion thread

Discussion in 'Stock Market Today' started by T0rm3nted, Feb 8, 2021.

  1. T0rm3nted

    T0rm3nted Moderator
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  2. anotherdevilsadvocate

    anotherdevilsadvocate Well-Known Member

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    SPX holding on to 4650. Let's get this Thanksgiving rally started!
     
  3. stock1234

    stock1234 2017 Stockaholics Contest Winner

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    Happy Thanksgiving guys. I probably will check the market a little bit on Friday but I guess most of you won't trade again until Monday :p
     
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  4. stock1234

    stock1234 2017 Stockaholics Contest Winner

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    MU has done pretty well for the last few sessions :eek: It has underperformed against most other semiconductor stocks but maybe it is starting to recover now
     
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  5. gtrudeau88

    gtrudeau88 Active Member

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  6. anotherdevilsadvocate

    anotherdevilsadvocate Well-Known Member

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    I would say there's no base in April. April's trading was just sideways. The following month went below April's low and kept going lower into the next month, holding below the 34 ema.

    I would say there's something at $340 (down to $325). Pretty much every month since June has traded sideways (RSI bouncing between 30-70) with dips to $340 and immediate bounces. There've been 2 ERs in that time and still no impulsive move could hold below $340. Now they just had November's ER, held $340 and the 200 ma is here to support it.
     
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  7. stock1234

    stock1234 2017 Stockaholics Contest Winner

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    Futures diving on COVID fears when you thought it is gonna be a super quiet Black Friday :eek:
     
  8. stock1234

    stock1234 2017 Stockaholics Contest Winner

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    Vaccine and stay at home stocks doing well while those travel and reopening trades are getting hammered :eek:
     
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  9. bearmarketcrash

    bearmarketcrash Well-Known Member

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    #1369 bearmarketcrash, Nov 26, 2021 at 4:32 PM
    Last edited: Nov 27, 2021 at 9:02 AM
  10. bearmarketcrash

    bearmarketcrash Well-Known Member

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    Top of the morning Stockaholics! Happy Monday to all of you! And welcome to the first trading day of the new week and a frrrrrrrrrrrresh start! Here is a quick check on those futures as we are under 5 hours from the cash market open.

    GLTA on this Monday, November the 29th, 2021. :thumbsup:

    cnnpremarket1.png
    finvizfuts.png
     
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  11. bearmarketcrash

    bearmarketcrash Well-Known Member

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  12. bearmarketcrash

    bearmarketcrash Well-Known Member

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    Morning Lineup - 11/29/21 - Back to Work
    Mon, Nov 29, 2021

    Markets are looking to recover a chunk of Friday's losses in early trading this morning. Equity futures are up across the board, but the Nasdaq is leading the way higher erasing about 40% of Friday's losses. Crude oil is also bouncing back above $70 with a gain of over 5%, copper is up 1.5%, and the yield on the 10-year US Treasury is up 6 basis points (bps) to 1.54%. In crypto, bitcoin is trading just below $57K gaining nearly 4% while Ethereum is trading just above $4,300.

    Investors are trying to make sense of the latest Omicron Covid strain, but at this point more seems to be unknown than known. Clouding things even more, we're unlikely to have definitive answers in the immediate future. Early reports have suggested that symptoms from this latest strain have been mild and that vaccines are still likely to provide good protection from severe illness, but that it is also more transmissible. While demographics may be a factor behind the mild symptoms (younger population in South Africa), if that did turn out to be the case overall, it would certainly be a positive. Even if the best-case scenario does play out and Friday's panic proves to be a massive over-reaction by markets and governments around the world, the short-term impact of restrictions on activity and international travel around the world will have some economic impact. Just last night, Japan announced that it will ban the entry of foreign travelers joining Israel, which made the same announcement last week.

    Whether you're looking at small caps or large-cap equities, it's a tale of two markets this week. In the small-cap space, the Russell 2000's break out earlier this month looks increasingly like a fakeout, and rather than a new leg higher, the question for small-caps is whether they can hold support at the uptrend line from the summer lows and not break down. For large caps, the S&P 500 still remains well above its breakout level from the summer high before September's sell-off. Support for the S&P 500 doesn't come into play until the 50-day moving average which is just above the 4,500 on the index and $450 for SPY.

    [​IMG]
     
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  13. stock1234

    stock1234 2017 Stockaholics Contest Winner

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    Those COVID concerns probably aren't completely gone yet, tech and growth have a very good day but those reopening trades aren't exactly on fire :p
     
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  14. stock1234

    stock1234 2017 Stockaholics Contest Winner

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    IWM is actually slightly down today despite a big comeback for big caps :eek:
     
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  15. stock1234

    stock1234 2017 Stockaholics Contest Winner

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    CRWD getting hit again :eek: Terrible price action before its earnings on Wednesday and it is not very often for a beaten up stock to bounce right back up after earnings, will be interesting to keep an eye on it :hmm:
     
  16. bearmarketcrash

    bearmarketcrash Well-Known Member

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    Top of the morning Stockaholics! Happy Tuesday to all of you! And welcome to the new trading day and a frrrrrrrrrrrresh start! Here is a quick check on those futures as we are under 4 hours from the cash market open.

    GLTA on this month end trading Tuesday, November the 30th, 2021. :thumbsup:

    cnnpremarket1.png
    finvizfuts1.png
     
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  17. bearmarketcrash

    bearmarketcrash Well-Known Member

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    Morning Lineup - 11/30/21
    Tue, Nov 30, 2021

    On this day in 1835, Samuel Clemens aka Mark Twain, considered by many to be one of the greatest American writers, was born. While the quote above has often been attributed to Twain, there is no documented evidence that he ever said the last part of the quote. One variation he has written was “History never repeats itself, but the Kaleidoscopic combinations of the pictured present often seem to be constructed out of the broken fragments of antique legends.” Not quite as succinct but along the same lines.

    Whoever said it, the fact that history doesn't repeat itself, but it often rhymes is often on display in financial markets. While there's no historical parallel to the current period of COVID and the unprecedented amount of stimulus that has been put into the system, human emotions are always a driving factor in market movements, and when faced with increased uncertainty, many investors choose to sell first and ask questions later- even if the headlines driving the market lower today (vaccines and COVID treatments potentially being less effective against the Omicron variant) were also in the market yesterday as well.

    Equity futures are indicating a sizable decline at the open with the Dow leading things lower. The moves in the Energy and Treasury market have been even more notable with WTI trading under $68 a barrel, nat gas down over 6% after a 10% decline yesterday, and the yield on the 10-year down below 1.44% to its lowest level since late September.

    There's been quite a bit of bifurcation in sector performance over the last several trading days. While four sectors are up over the last five trading days, they're all among the smallest sectors in the market. At the bottom of the list, two sectors (Communication Services and Industrials) are down over 2% while another two are down more than 1.5% (Consumer Discretionary and Materials). Technology, the S&P 500's largest sector is also down but by a more modest 0.68%.

    [​IMG]
     
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  18. bearmarketcrash

    bearmarketcrash Well-Known Member

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  19. anotherdevilsadvocate

    anotherdevilsadvocate Well-Known Member

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    Getting a flush below 4570 SPX now. Let's see if we have much more downside.

    PLTR still holding above $20.
     
  20. anotherdevilsadvocate

    anotherdevilsadvocate Well-Known Member

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    Sports gambling hitting a record high in the US. October benefits from 4 major sports playing concurrently.

    A record $1.1 billion was bet in October with Nevada sportsbooks, marking the first time the state's sports betting market has handled more than $1 billion in wagers in a month. Nevada joins New Jersey as the only legal sports betting markets in the U.S. to handle more than $1 billion in bets in a month. New Jersey eclipsed the $1 billion market in September and October.

    The $1.1 billion in overall bets shatters the previous record of $786.5 million wagered in September with Nevada sportsbooks. The $1.1 billion is an increase of 66.8% over October 2020 and 102.3% over October 2019.


    Michael Lawton, senior economic analyst for the Nevada Gaming Control Board, attributed the record October to the increased acceptance of mobile wagering, a robust sports schedule with all four major professional leagues in action and five weekends with NFL games. A record $728.6 million was bet on collegiate and professional football combined in October.

    Bets placed online accounted for 64.0% of the total amount wagered in October.

    https://www.espn.com/chalk/story/_/id/32753855/first-1-billion-month-nevada-sportsbooks
     
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