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Stock Market Today: August 24th - 28th, 2020

Discussion in 'Stock Market Today' started by bigbear0083, Aug 21, 2020.

  1. Ken34

    Ken34 2017 Stock Picking Contest Winner

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    what in the world is going on lol. i got in netflix last week, why is this up 8% today....i dont get this market man, this is nuts. it feels like you can buy any large cap tech stock and just profit, mindless profit....facebook has been on a tear the past couple days, tesla is still being tesla.
     
  2. Stoch

    Stoch Well-Known Member

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    Very strange internals, advance/decline -750, tick -240, advance/decline volume -1.36 yet were posting all time highs. It would appear the indices are just controlled by 5-10 big cap stocks and the rest of the market doesn't have the weight to offset those gains.


    Just checked S&P 500: Top 5 stocks - 23.5%, top 10 - 30%
    Nasdaq 100 Top 5 stocks 47% top 10 - 58%
     
    #42 Stoch, Aug 26, 2020
    Last edited: Aug 26, 2020
    stock1234 likes this.
  3. T0rm3nted

    T0rm3nted Moderator
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    Same, and nearing 10% now
     
    Ken34 likes this.
  4. Onepoint272

    Onepoint272 2019 Stockaholics Contest Winner

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    MEMO

    From: Smart Money
    To: Trading desk

    No change in game plan: Prop up the top-ten heaviest weighted stocks and quietly distribute everything else. Continue longing the bonds.

    No mercy,

    The management.
     
    bigbear0083, Vdubman, Ken34 and 2 others like this.
  5. stock1234

    stock1234 2017 Stockaholics Contest Winner

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    Have both CRM and DKS, both up big after earnings :banana: Sold ADBE yesterday, would have been great if I held my shares :mad:
     
    #45 stock1234, Aug 26, 2020
    Last edited: Aug 26, 2020
  6. stock1234

    stock1234 2017 Stockaholics Contest Winner

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    Jackson Hole better be not a disappointment tomorrow after the market running like this :p Powell says something wrong and the market could pull back pretty hard :p
     
  7. anotherdevilsadvocate

    anotherdevilsadvocate Well-Known Member

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    Was noticing the similar thing.
    55% of all stocks are down today but we keep running higher.
    Barely more than half normal volume
    upload_2020-8-26_8-10-36.png

    These are supposed to be the worst 6 months?
     
    Stoch likes this.
  8. Stoch

    Stoch Well-Known Member

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    Wow, a 1% up day with a -643 A/D and -8.000 cumulative tick. This is like just investing in a few stocks only. There is very little diversification in the index anymore.

    At least gold was up 1.2% and silver 3.27%.

    [​IMG]
     
  9. T0rm3nted

    T0rm3nted Moderator
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    Ding ding ding that's a wrap folks. Nasdaq and S&P both hitting new ATH's again. Felt good to own NFLX today.
     
    Ken34 likes this.
  10. AverageJoesTrades

    AverageJoesTrades Well-Known Member

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    Volatility and the market up today.... usually doesn't end well. I think metals/miners could pop tomorrow
     
    anotherdevilsadvocate likes this.
  11. Vdubman

    Vdubman Well-Known Member

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    Who the heck is buying stocks today? Tesla and Facebook and every big tech stock going nuts. What did I miss?
     
  12. AverageJoesTrades

    AverageJoesTrades Well-Known Member

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    Lol - you missed nothing.... just a normal day in today's market.

    My gut feeling is that the big boys are unloading - driving the market up. DIX just hit 38.2% - this normally means big boy unloading.
     
  13. T0rm3nted

    T0rm3nted Moderator
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  14. Ken34

    Ken34 2017 Stock Picking Contest Winner

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    this is the Fed market. no point calling it a stock market anymore lol.
     
  15. bigbear0083

    bigbear0083 Content Manager
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    well this sure is a pleasant surprise! muchas gracias for your kind words there @JCooper! much appreciate that. ;)

    @T0rm3nted hit on it the other day. yes, i do c&p everything into these threads every week. admittedly it can be hella tedious and time consuming if i'm being wholeheartedly honest here haha.

    it's really awesome that you had signed up just to say that lol. hope you won't shy away from participating in the discussions in here every week!

    thank you again! can't say this enough, but reading posts like yours is what fuels the fire! you rock :thumbsup:


    correct. i should be more active next month, of not sometime in the fall.

    i know i've said this about an umpteenth amount of times now, so i won't repeat it again to bore you guys out.

    but in short, right now this market is totally uninteresting to me. everything is so fucking overbought it's actually pretty ridiculous.

    as @Ken34 perfectly put it, this is a fed market to a tee.

    still sticking to my guns though that we will eventually see some nice swings in BOTH directions. i'm looking for a pick up in volatility bigly starting from next month. i'd be super shocked if we did not see some healthy pullback action between now and then. we will see.

    hope all of you have been well! and sorry if i haven't been coming on here that often this month. just taking a MUCH needed break from the daily grind. it's been amazing! :D
     
  16. stock1234

    stock1234 2017 Stockaholics Contest Winner

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    Just buy buy buy when we have the FED LOL :banana::p
     
    Ken34 likes this.
  17. stock1234

    stock1234 2017 Stockaholics Contest Winner

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  18. anotherdevilsadvocate

    anotherdevilsadvocate Well-Known Member

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    S&P selling off into the close, will we see the streak of up days end at 5?
     
  19. stock1234

    stock1234 2017 Stockaholics Contest Winner

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    I am still down 20% for my RCL position, but it is a big improvement from just a few weeks ago :p
     
  20. Ken34

    Ken34 2017 Stock Picking Contest Winner

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    NTNX huge pop on earnings, dang, wish i was still in it.
     

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