Stock Market Daily Discussion for May 23rd - 27th

Discussion in 'Stock Market Today' started by StockJock-e, May 21, 2016.

  1. OldFart

    OldFart Well-Known Member

    Joined:
    Apr 3, 2016
    Messages:
    1,959
    Likes Received:
    1,813
  2. Ken34

    Ken34 2017 Stock Picking Contest Winner

    Joined:
    Apr 4, 2016
    Messages:
    1,039
    Likes Received:
    723
    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.
     
  3. OldFart

    OldFart Well-Known Member

    Joined:
    Apr 3, 2016
    Messages:
    1,959
    Likes Received:
    1,813
    companies like that usually don't hurt too bad...they just lay off people and keep on getting rich
     
  4. Ken34

    Ken34 2017 Stock Picking Contest Winner

    Joined:
    Apr 4, 2016
    Messages:
    1,039
    Likes Received:
    723
    the sad sad truth
     
  5. OldFart

    OldFart Well-Known Member

    Joined:
    Apr 3, 2016
    Messages:
    1,959
    Likes Received:
    1,813
    Yep... Sux
     
  6. Stockaholic

    Stockaholic Content Manager

    Joined:
    Mar 29, 2016
    Messages:
    13,767
    Likes Received:
    7,050
    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 ;)
     
    stock1234 and StockJock-e like this.
  7. OldFart

    OldFart Well-Known Member

    Joined:
    Apr 3, 2016
    Messages:
    1,959
    Likes Received:
    1,813
    sheesh.....bought some calls, and laptop died...now using an old POS computer with win 8...slow as piss
     
  8. StockJock-e

    StockJock-e Brew Master
    Staff Member

    Joined:
    Apr 3, 2016
    Messages:
    9,524
    Likes Received:
    3,526
    @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!
     
    OldFart and Stockaholic like this.
  9. StockJock-e

    StockJock-e Brew Master
    Staff Member

    Joined:
    Apr 3, 2016
    Messages:
    9,524
    Likes Received:
    3,526
    Oh oh, you moved to the back up trading station!
     
  10. OldFart

    OldFart Well-Known Member

    Joined:
    Apr 3, 2016
    Messages:
    1,959
    Likes Received:
    1,813
    yep...thanks to windows 10...
     
  11. Talon

    Talon Member

    Joined:
    Apr 8, 2016
    Messages:
    64
    Likes Received:
    34

    [​IMG]
     
  12. DoveJohns

    DoveJohns Active Member

    Joined:
    Apr 3, 2016
    Messages:
    168
    Likes Received:
    49
    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.
     
  13. Stockaholic

    Stockaholic Content Manager

    Joined:
    Mar 29, 2016
    Messages:
    13,767
    Likes Received:
    7,050
  14. anotherdevilsadvocate

    anotherdevilsadvocate Well-Known Member

    Joined:
    Apr 3, 2016
    Messages:
    4,319
    Likes Received:
    3,375
    Welcome back @Cy McCaffrey , very good to have you back.
    This is a solid community, and even better united.
     
    T0rm3nted and Stockaholic like this.
  15. anotherdevilsadvocate

    anotherdevilsadvocate Well-Known Member

    Joined:
    Apr 3, 2016
    Messages:
    4,319
    Likes Received:
    3,375
    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.
     
  16. Talon

    Talon Member

    Joined:
    Apr 8, 2016
    Messages:
    64
    Likes Received:
    34
    FWIW, Fed Gov. Powell just came out and said he supports a rate hike soon if economic data stays on track.
     
  17. Ken34

    Ken34 2017 Stock Picking Contest Winner

    Joined:
    Apr 4, 2016
    Messages:
    1,039
    Likes Received:
    723
    i hope they raise in june, even if the dollar rallies, the market should tank and gold can reign supreme once again.
     
  18. Tiptopptrader

    Tiptopptrader Well-Known Member

    Joined:
    Mar 31, 2016
    Messages:
    4,895
    Likes Received:
    1,124
    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.
     
    #118 Tiptopptrader, May 26, 2016
    Last edited: May 26, 2016
  19. Rock Sexton

    Rock Sexton Meat Popsicle

    Joined:
    Apr 6, 2016
    Messages:
    582
    Likes Received:
    618
    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.

    SPYmonthyl.JPG

    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.

    SPX.JPG
     

    Attached Files:

    • SPX.JPG
      SPX.JPG
      File size:
      161.3 KB
      Views:
      230
    #119 Rock Sexton, May 26, 2016
    Last edited: May 26, 2016
  20. OldFart

    OldFart Well-Known Member

    Joined:
    Apr 3, 2016
    Messages:
    1,959
    Likes Received:
    1,813
    AAPL breaking into $100's
     

Share This Page