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Stock Market Today: December 3rd - 7th, 2018

Discussion in 'Stock Market Today' started by bigbear0083, Nov 30, 2018.

  1. bigbear0083

    bigbear0083 Content Manager
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    i think ima agree with frankie on the 2700 setup for tomorrow or next week

    only thing in the way imo is the NFP # in the AM ... unless we're thinking that's all baked in at this point?
     
    stock1234 likes this.
  2. stock1234

    stock1234 2017 Stock Picking Contest Winner

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    Seems like market wants the FED to pause hiking rates, so I guess market would rally if the report is somewhat weak but might not do so well if we get really strong wage growth number :p
     
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  3. bigbear0083

    bigbear0083 Content Manager
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    don't look now but the other majors are making a helluva an attempt at flat or green here :p

    not sure if it happens, but a heck of a run into the close here :p
     
  4. stock1234

    stock1234 2017 Stock Picking Contest Winner

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    Yeah SPX actually within striking distance to close in the green I guess :p
     
  5. bigbear0083

    bigbear0083 Content Manager
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    at this rate i guess we'll hit that 2700 at the close :eek: :p
     
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  6. Steven_Burt

    Steven_Burt Well-Known Member

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    This close is gonna make tomorrow's pick/trading challenging imo. I was hoping to close between 2641 and 2667 with a 2700 target. I think now I'm leaning to a lower close tomorrow. and probably a crappy choppy day. Think it'll be a good fishing day.
     
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  7. stock1234

    stock1234 2017 Stock Picking Contest Winner

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    Looks like the SPX will stop short of turning green, but still a very impressive intraday turnaround for the NASDAQ :eek:
     
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  8. Frankenstein

    Frankenstein Active Member

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    Ok. I emphasized risk management. I exited Lot #1 long at just above what I purchased yesterday. And so, I am averaged in now long at around 2640!
     
  9. Frankenstein

    Frankenstein Active Member

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    If the SPX collapses some more, I buy more. If it goes up, I will profit and have to determine where to exit for profit taking. It's taken time, but I am starting to get a better feel for how to trade manage--as I mentioned before, trade management is a different animal vis a vis price prediction
     
  10. Frankenstein

    Frankenstein Active Member

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    2018 is a time for traders and investors to test their skills and really learn how to trade--if you make it out alive, you can then rise to another level, I think
     
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  11. Frankenstein

    Frankenstein Active Member

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    Now, that I am free of the 2700 positions, if the SPX were to re-test the 2650 level, I buy. As I mentioned. it seems to be that the 2620 to 2650 level is a strong buy zone--according to my theory.
     
  12. Frankenstein

    Frankenstein Active Member

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    Trading can be like gambling--if you don't have a theory
     
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  13. Frankenstein

    Frankenstein Active Member

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    If you have theory, it's more like a game of chess
     
  14. bigbear0083

    bigbear0083 Content Manager
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  15. bigbear0083

    bigbear0083 Content Manager
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    Good Friday morning to all.

    Here is the pre-market thread for those of you wanting to get a quick read before today's open-
    [​IMG] <-- click there to read!

    Happy trading to all on this final trading day of the week.
     
  16. bigbear0083

    bigbear0083 Content Manager
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    Morning Lineup – Treasury Bid Continues
    Dec 7, 2018

    Treasuries continue to catch a bid this morning as investors don’t want to stick their necks out on the risk curve ahead of today’s jobs report. Given all the volatility in markets and other events swirling around recently, it seems as though this morning’s report has taken a backseat, and let’s hope that it is uneventful enough to stay that way! In a speech at a housing conference in DC yesterday, FOMC Chair Powell continues to see the economy humming along and described the labor market as “very strong.” The market is only hoping that it’s not too strong.

    Yesterday’s ‘moral victory’ rebound for US equities was impressive and most so in the Nasdaq which actually finished the day in the green. The index still has a lot to prove from a technical perspective, and the first task at hand is to break the string of lower highs. The most recent of those was at 7,490, which is just below the 200-day moving average. What is encouraging, though, is the fact that the index did make a higher low yesterday and could be in the later stages of an inverse head and shoulders pattern. We don’t put a lot of weight into these formations, but many do, so it’s important to at least be cognizant of it.

    [​IMG]
    Also positive is the fact that the Nasdaq’s leading group for much of this year-Software & Services- has also shown signs of stabilizing. After last week’s higher high just above the 50 and 200-DMAs, the group managed to make a higher low in yesterday’s trading. That’s definitely worth watching.

    [​IMG]
    Finally, while not related to the Nasdaq specifically, homebuilder stocks also look to be carving out a bottom. The group has also managed to make a higher high and two higher lows in the last few weeks. In addition to that, the fact that PulteGroup (PHM) just announced a dividend increase indicates at least some level of confidence on the part of one company in the group. We would note that back in the early stages of the housing crisis, the last homebuilder dividend increase was all the way back in August 2006.

    [​IMG]
     
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  17. anotherdevilsadvocate

    anotherdevilsadvocate Well-Known Member

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    I've got a feeling TSLA is going to make a move to $420. +4% early today. Gotta be careful on that one, if it breaks $387 resistance there'll be a lot of hype.
     
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  18. anotherdevilsadvocate

    anotherdevilsadvocate Well-Known Member

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    TWTR is making a move today.
     
  19. anotherdevilsadvocate

    anotherdevilsadvocate Well-Known Member

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    Horrible responses to ER for retail stocks this week (LULU, ULTA, OLLI) and ROST keeps getting weaker. But the XRT is still in its channel

    [​IMG]
     
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  20. Frankenstein

    Frankenstein Active Member

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    Intraday, SPX 2670 is important for the bulls
     

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