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Stock Market Daily Discussion for May 16th - 20th

Discussion in 'Stock Market Today' started by StockJock-e, May 14, 2016.

  1. anotherdevilsadvocate

    anotherdevilsadvocate Well-Known Member

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    UA bouncing off a Fib retracement.
     
  2. Ken34

    Ken34 2017 Stock Picking Contest Winner

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    ua in the 30s is a tempting trade.
     
  3. StockJock-e

    StockJock-e Brew Master
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    Big gap down to $76 there!

    US dollar at work

    [​IMG]
     
  4. OldFart

    OldFart Well-Known Member

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    I almost grabbed some call options....would have been a double

    gdx.png
     
  5. OldFart

    OldFart Well-Known Member

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    a little support line coming up....we'll see if bear or bulls win this fight

    spy.png
     
  6. Ken34

    Ken34 2017 Stock Picking Contest Winner

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    well, what you almost did, i did , except i bought shares in nugt @76.xx , that sell off was way overdone, so i bought, although i really wanted to wait, i couldnt pass that up, they hit that thing way too hard at the open for that to be logical. im already up 8% lol.
     
    OldFart likes this.
  7. Ken34

    Ken34 2017 Stock Picking Contest Winner

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    the us dollar is running into resistance, lets see what it does.
     
  8. OldFart

    OldFart Well-Known Member

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    bears winning this one...so far
     
  9. Ken34

    Ken34 2017 Stock Picking Contest Winner

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    if the S&p closes at these levels...then game over. we are heading down to the 1900s....this is a huge battle zone here around the 2030 area.
     
  10. OldFart

    OldFart Well-Known Member

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    We may get a bounce here
    SPX.png
     
    anotherdevilsadvocate likes this.
  11. Talon

    Talon Member

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    S&P is breaking down, Gold is breaking down, Crude currently at support. Can't say any of this is unexpected as it seems obvious market keeps looking for reasons to sell and gold was and still is way, way overbought.

    First and only potential stopping point I see in the S&P is around 1980 - 2000 area. Otherwise we're well on our way to another correction down to that support for a third test of 1800. I wonder if it can hold off a bear market for the third time now. I guess we'll see. :)
     
  12. MaximusAnalysis

    MaximusAnalysis Active Member

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    Testing ES monthly low again here.....watching.
     
  13. anotherdevilsadvocate

    anotherdevilsadvocate Well-Known Member

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    Not as exciting as SPY in the big picture, but in the little picture VRX is having a rough day, but nearing its bottom support.
    I wonder how much of a bribe financial encouragement Ackmann gave Citron to go on TV and say he had shares in VRX. Ackmann is a very desperate man.
     
    OldFart likes this.
  14. StockJock-e

    StockJock-e Brew Master
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    WMT +9%

    Thank goodness for that, it was starting to look like trouble, now WMT goes and saves the day!
     
  15. StockJock-e

    StockJock-e Brew Master
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    If this market can drop into July, then it will actually rally on a Fed rate hike.

    Because we are backwards that way.
     
  16. Frankenstein

    Frankenstein Active Member

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    So, here the SPX hit 2025. It's just at the top of my buy zone level. I'd like for it to test that 2020 level, if possible and then I might think about buying at this level. I expect it to bounce back up to that 2050 level at some point. I had mentioned yesterday that I would be interested in the 2020 to 2025 zone. There is even a possibility it would plunge somewhat deeper than the 2020 level before the reversal happens. That would be even a better time to buy, I think.
     
  17. yzarc

    yzarc New Member

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    I'm thinking flat or up tomorrow. I'm showing 206 as SPY max pain. Unless there is some market shaking event, I can't see them closing out OPex week any further away from 206 than we are now.
     
  18. Frankenstein

    Frankenstein Active Member

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    The SPX is at 2036. I didn't enter at 2025. I mentioned that I had wanted the SPX to explore that 2020 to 2025 area and maybe entering there. Since the SPX did not work with my plan, I decided not to enter. I don't like missing out like this but I've learned that--in the long run--it's always better to simply follow my own rules for entering and exiting and if I miss out, I miss out.
     
    T0rm3nted likes this.
  19. Venom08

    Venom08 Member

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    Sold my SLV puts at the open. Whew! SLV did a whole lotta nothing the two or three weeks I was holding them and actually just broke into the green on them yesterday. Closed them out this morning at $0.92 from a $0.48 entry and they expired tomorrow anyway.
     
    OldFart likes this.
  20. Talon

    Talon Member

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    Gotta love playing at the casino with options. 24 hours away from probably being worthless and you practically net a dohble bagger at the last minute. Noice.
     
    OldFart likes this.

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