I decided to manage my risk and profit take: I entered this morning long at SPX 2055 and exited at 2078. Just following my trading philosophy.
It sold off real hard, like that 1300 resistance is real. I found this hilarious explanation (http://seekingalpha.com/news/3189253-gold-hold-gains-dives-back-1300): Yep, we stopped being afraid of Brexit and falling interest rates in the time it takes to eat a brunch. We stopped being afraid because someone got murdered. What a relief! How many people will die to keep gold under 1300?
The volatility today was nice. But I tend to stress risk management and exit with a profit more swiftly when things are more volatile, however.
^^ this exactly but, that is obviously the big trillion dollar question - "when it comes" for all we know this POS fluff market could continue running for another couple of more years ... not that i'm banking on it (god i hope not lol) i'm still thinking we'll see some fireworks around the elections ... but honestly IDK if we're gonna see anything like a 2008ish meltdown ... as said before i wouldn't mind to see the markets completely implode on itself already ... this 7yr bull run is a bit long in the tooth to say the least ... bull & bear cycles are all just a natural course of markets when they operate normally ... but in this fed induced market you never know as there is so much friggin' manipulation ... i'm guessing we probably would just see another august 2015ish type swoon or less ... then this bull($hit) market is back on again for some really higher highs lol ... we'll see
Yep, with the Fed always having the market's back it is leading to ridiculous price ratios. It's in the market's nature to siphon off all profits until there is no margin left, since they have nothing to fear. That's all great for people that got in this market early, but eventually the time will come that oldsters will die and be replaced by youngsters and what will they have left to pick up? Nothing. I don't let P/E ratios stop me from buying, with low interest rates I think that justifies high P/E. But when I see price/book ratios over 100 (like BUFF, a friggin dog food company) you have to think, what is the public doing paying 100x book value for a company? It would be insane for another company to acquire BUFF, because they would not be getting value. And that's ultimately it, if you let prices keep going up then there's no value left for the next person. And then you know what happens. You don't want to be the last one holding when the marginal value is gone. You do not get a soft landing from there. Because even who would buy after a 10% drop? Such a person must know there is only 10% upside (max) before he/she has to unload a value-less stock onto someone else. And that's why you need bear cycles, because they stop the market from going to its logical conclusion where the last holder gets screwed.
wow Gold is making quite the recovery here, will we see 1300 so soon again? i guess the brexit rumors were the reason for the reversal in everything yesterday.
Fed's Bullard: Only one rate hike needed through 2018 http://video.cnbc.com/gallery/?video=3000526816 oh god, why are these people allowed to talk again?? gosh i wish the fed could stay on their blackout period forever.
Early movers: LL, VIAB, ORCL, SWHC, FNSR, REV, VRX Viacom — The media firm updated its earnings guidance for the current quarter to a range of $1.00 to $1.05 a share, below FactSet expectations, due to the "theatrical underperformance" of "Teenage Mutant Ninja Turtles: Out of the Shadows." Viacom also forecast a decline in domestic ad sales declines to about 4 percent. Earlier, RBC upgraded the stock to "sector perform" from "underperform" and raised its price target to $45 from $34 after Sumner Redstone's National Amusements removed five Viacom directors, including CEO Philippe Dauman, from the media firm's board. Seemingly inevitable management change removes a major overhang, RBC said, while competition in a changing media business remains an obstacle to unlocking further value in the near term. BTIG also upgraded the stock late Thursday. Viacom closed more than 6.5 percent higher at $45.05 a share Thursday. Lumber Liquidators — The firm has agreed not to sell its existing inventory of laminate flooring previously sourced from China, the U.S. Consumer Products Safety Commission said. Lumber Liquidators discontinued sale of the product in question in May 2015, and the regulator said any sale or disposal of remaining inventory is subject to its approval. Oracle — The business software maker reported quarterly revenue that topped expectations, helped by an increase in cloud service customers. Reported revenue of $10.59 billion did mark a 1 percent decline from the same period last year, while ex-items earnings of 81 cents a share were in-line with expectations and rose from 78 cents per share the same period last year. Smith & Wesson — The firearm manufacturer reported earnings that beat on both the top and bottom line, and issued a forecast that was above expectations. Valeant Pharmaceuticals — The embattled drugmaker announced its wholly owned subsidiary Valeant Canada is investing $27.5 million in manufacturing facilities in Canada. Finisar — The optical communications products supplier reported revenue of $318.8 million that topped expectations. Current-quarter forecast was at the higher range of FactSet expectations.
http://finance.yahoo.com/m/72ce3279...own-as.html?puc=yahoo&cm_ven=YAHOO&yptr=yahoo Apple News this morning
Yep, regardless of the validity of China's claims, this shows that phones are being commoditized when a Chinese brand can be similar enough to the Apple brand.
cramer just called up some people on air and confirmed that the sales are not being halted and its just a small court case in beijing. apple's stock recovered on the spot, i just witnessed manipulation in real time, i love this crappy market of ours.
This morning the SPX is at 2072 at 6:38 a.m. PST. SPX is non above 2075. According to my theory, another key level is 2070 for today. Update: 1. 6:45 a.m. = the SPX is ranging between 2075 and 2070 2. 7:36 a.m. = the SPX broke down non above 2070--it's at 2067; the possibility of this type of price action is the reason I exited yesterday 3. 9:23 a.m. PST = The SPX collapsed to 2062. But I didn't re-enter. The price action is odd. It's difficult to determine what could happen. It is at 2069 but the price could rally to 2083 or collapse to 2050 or non above. This is not a good entry point for a trade based on recent price action.
i was waiting for oil to hit 45 before i decide to go long or not. i think it hit it yesterday, but i missed it.
