Stock Market Today: February 27th - March 3rd

Discussion in 'Stock Market Today' started by Stockaholic, Feb 24, 2017.

  1. Baggi

    Baggi Active Member

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    I'm the guy getting crushed by the bulls.
     
  2. Baggi

    Baggi Active Member

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    If we had a 20 point "bounce" back from here, we would still be up almost 20 points on the day.

    Crazy.
     
  3. Ken34

    Ken34 2017 Stock Picking Contest Winner

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    bac and amd lookin nice in my account :)
     
    T0rm3nted likes this.
  4. Stockaholic

    Stockaholic Content Manager

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  5. Baggi

    Baggi Active Member

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    I'm still stuck in ANF, so I sold some calls before earnings.

    This end of day sell off is giving me hope. Can we go down to lock limit down after hours tonight?
     
  6. stock1234

    stock1234 2017 Stockaholics Contest Winner

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    Anyone planning to play the SNAP IPO? :D
     
  7. Baggi

    Baggi Active Member

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    Maybe after options come out in a week or so.
     
  8. Venom08

    Venom08 Active Member

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    Ultra-Bull Venom08 checking in again.....
    Looking at this monthly channel on the DJIA, we have overhead resistance at 21,550 so there could be a sell-off there, but if we just break through..... I mean we could literally see DJIA 23500 by May.
    [​IMG]
     
  9. Venom08

    Venom08 Active Member

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    I'm curious, why are there bears still. I mean it's fun to be a contrarian, but I missed out on a ton of money by being that way through the years. If you look at it without bias, is there any sort of bubble in the stock market? I just don't see it. Government bonds market? Sure there's a bubble there, but equities are not in any sort of bubble like the dot.com or housing bubbles.
     
  10. Baggi

    Baggi Active Member

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    Because I prefer to buy low and sell high. Not buy high and sell low.
     
  11. hitman

    hitman Active Member

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    Good eyes I been saying this since Dec of last year 23550/23560 where the problem lies this all depends on the French election if LePen wins it will be taken out.
     
  12. Venom08

    Venom08 Active Member

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    Yep, that's what I think too. And with the likelihood of Le Pen winning growing by the day, the death of the Eurozone is now extremely likely. Plus Italy and Germany are due this year too and they're going against Brussels.
     
  13. Baggi

    Baggi Active Member

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    When is the French election?
     
  14. rStock

    rStock Well-Known Member

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    Google it ... French presidential election, 2017 will start on Sunday, April 23 and will end on Sunday, May 7
     
  15. Ken34

    Ken34 2017 Stock Picking Contest Winner

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    well while you sit there and wait for a low we all shall continue making this money, lol. gotta follow the trend, not fight it :) now if i start seeing multiple closes below the 8 EMA on the SPX then i will start selling or getting cautious, if i see multiple closes below the 21 EMA on SPX then i will go on the short side. the trend is your friend till the end.
     
  16. aaa

    aaa Member

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    Dow breached the 21000 mark for the first time yesterday, S&P and Nasdaq hit record intraday highs post Trump speech. Overall, the US markets are up more than 10% post elections driven mainly by anticipation of "phenomenal" tax reforms, fiscal boost and financial deregulation.
    But is this rally sustainable? Consider this:
    1) The S&P500 Shiller PE (Cyclically adjusted PE ratio - CAPE) is currently at 29.52, about 77% higher than the historical mean of 16.7. This level has been exceeded only a few times before - including the housing bubble of 2008, dot com mania of the 1999 and Great Depression of 1929, indicating that the current market is grossly overvalued
    2) This puts immense pressure on the earnings to match up these high valuations. Agreed, earnings are expected to receive a boost from lower taxes from Trump tax reforms, but policy specifics remain elusive and execution could face congressional headwinds. Further, labor costs are expected to rise, given that the economy is at full employment. High labor costs combined with a rising dollar could eat into the tax aided rise in corporate earnings.
    3) Again, the markets are banking on a rise in corporate earnings from tax cuts. Such govt. aided profits do not reflect innovation and efficiency and do not aid value creation in the long run.
    Will it be a bumpy ride ahead?
     
  17. Ken34

    Ken34 2017 Stock Picking Contest Winner

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    what are the chances we see atleast a 15% pop in SNAP today?
     
  18. Stockaholic

    Stockaholic Content Manager

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  19. T0rm3nted

    T0rm3nted Moderator
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    World markets and pre-market heading into today's trading session:

    upload_2017-3-2_8-12-42.png

    upload_2017-3-2_8-13-3.png
     
  20. Stockaholic

    Stockaholic Content Manager

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    For those wondering SNAP estimated opening time @ around 10am eastern
     

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