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Stock Market Today: August 26th - 30th, 2019

Discussion in 'Stock Market Today' started by bigbear0083, Aug 23, 2019.

  1. stock1234

    stock1234 2017 Stockaholics Contest Winner

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    Bonds yields continue to move lower :eek:
     
    OldFart likes this.
  2. Frankenstein

    Frankenstein Active Member

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    Ok, working with my theory, I jumped in more long at around 2865
     
  3. Frankenstein

    Frankenstein Active Member

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    My plan is to exit for profit taking probably at around 2900 and then re-assess
     
  4. StockJock-e

    StockJock-e Brew Master
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    At which point will tweets stop moving this?

    I think we reach tweet exhaustion at some point.
     
    OldFart and emmett kelly like this.
  5. StockJock-e

    StockJock-e Brew Master
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    Key yield curve inverts to worst level since 2007, 30-year rate under 2%
    Long-term Treasury rates added to their monthlong slide on Tuesday, aggravating a key yield-curve inversion and sending the 10-year yield to its lowest level against the 2-year rate since 2007.

    The yield on the benchmark2-year Treasury note, more sensitive to changes in Federal Reserve policy, fell to 1.526%, 4.7 basis points above the10-year note's rateof 1.479%. The last inversion of this part of the yield curve was the one that began in December 2005, two years before the financial crisis and subsequent recession.

    The spread between the 3-month Treasury yield and that of the 10-year note — the Fed's preferred inversion metric — slumped to -50 basis points, its lowest since March 2007.

    The30-year bond yielded1.961% and was poised to close below the 3-month bill yield for the first time since 2007.

    A10-year rate below the 2-year yieldis viewed by fixed income traders as an important recession prognosticator, marking an unusual phenomenon as bond holders receive better compensation in the short term. The Dow Jones Industrial Average retraced a 155-point gain on Tuesday as bond yields fell.

    https://www.cnbc.com/amp/2019/08/27/us-treasurys-investors-monitor-trade-developments.html
     
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  6. Frankenstein

    Frankenstein Active Member

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    The problem of profit taking at SPX 2900 or 2940 is that the price could head towards another test of the 3000 level. You have to know your trading strategy to figure out what to do
     
  7. Frankenstein

    Frankenstein Active Member

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    The volume for the SPY is anemic at 45 million for this collapse--I read that as a bullish sign
     
  8. Frankenstein

    Frankenstein Active Member

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    I entered at a meaningful level long but I don't care which way the price goes. More collapse--I buy more. Rally--I profit take. But I want volatility. That's my milk, baby
     
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  9. Frankenstein

    Frankenstein Active Member

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    I am leaning towards exiting to profit take at 2920 to 2940 level
     
  10. Frankenstein

    Frankenstein Active Member

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    Boom. Off we go, into... [At least, it seems that way momentarily]. But, my theory says the SPX definitely shall retest the 2900 level, so I can at least exit at break even for some of my positions and at a profit with the rest
     
  11. stock1234

    stock1234 2017 Stockaholics Contest Winner

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    COST up 5% for the day :eek:
     
  12. Frankenstein

    Frankenstein Active Member

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    I am a swing trader. But, the intra-day trend is up
     
  13. Frankenstein

    Frankenstein Active Member

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    The Vix fell non-above 20
     
  14. anotherdevilsadvocate

    anotherdevilsadvocate Well-Known Member

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    Dang COST is really going to take off. Guess Cramer is right about his new WATCH lol.
     
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  15. Frankenstein

    Frankenstein Active Member

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    But intraday 2880 is key
     
  16. OldFart

    OldFart Well-Known Member

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    Key yield curve inverts to worst level since 2007

    The crash happened in 2008, so we have a whole year before the crash?.... whoohoo!!
     
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  17. stock1234

    stock1234 2017 Stockaholics Contest Winner

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    Yeah I think I have heard from CNBC that stocks usually don't go down immediately right after the curve inverts, usually takes 12 months or whatever before we see some significant downturn
     
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  18. anotherdevilsadvocate

    anotherdevilsadvocate Well-Known Member

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    The stock market peak is on average 3 months after the yield curve inversion -- but that is in instances where a recession follows. Kinda makes sense? I'm thinking a recession is defined by 2 quarters of negative growth, so keep riding that bull until you see that first quarter of negative growth.

    Another implication is that the curve inverts when the market is near ATH.
     
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  19. bigbear0083

    bigbear0083 Content Manager
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  20. OldFart

    OldFart Well-Known Member

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    Nice bounce.
    CNBC is dumbfounded.... lol
     
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