Stock Market Today: June 20th - 24th

Discussion in 'Stock Market Today' started by Stockaholic, Jun 17, 2016.

  1. StockJock-e

    StockJock-e Brew Master
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    Market internals looking worse here, we could see some selling pressure into the close
     
  2. StockJock-e

    StockJock-e Brew Master
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    Good point, the Fed is not going to raise rates in this mess.

    Which means this market should be good to rally for another few months! lol
     
  3. brucekeller

    brucekeller Member

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    I always seem to do this. I have TSLA 190 puts that expire in an hour. TSLA at 190 but making new lows... never dull, lol. Of course, I bought 66% of them a few hours ago.
     
  4. Frankenstein

    Frankenstein Well-Known Member

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    The SPX is at 2040 at 11:51 p.m. PST. Volume 227 million. 2040 is a significant level but even more significant is 2025, according to my theory. If the price collapse non above 2025, there could be a much deeper collapse after that. In this context of the Brexit actually having taken place, I'd like to buy between 1980 to 2000, if the price can reach that level.
     
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  5. OldFart

    OldFart Well-Known Member

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    It'll take about 5 years or longer to totally "brexit"...
    There will be more downside to come I guess.
    I got serious egg on my face thinking they would not exit the EU.
     
  6. OldFart

    OldFart Well-Known Member

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    I should have just bought a vix straddle.
    Probably would have done good.
     
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  7. brucekeller

    brucekeller Member

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    Plus don't forget, Scandinavian countries probably won't be too far behind.
     
  8. Frankenstein

    Frankenstein Well-Known Member

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    The SPX collapsed to 2032. The VIX is continuing to climb. It's at 25.25--which is well above the critical 20 level.
     
  9. StockJock-e

    StockJock-e Brew Master
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    S&P futures holding above worst levels which were 1999.

    Not bad really, it is -3.8% here but could have been a lot worse!
     
  10. Frankenstein

    Frankenstein Well-Known Member

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    I concur. 3% is pittance
     
  11. OldFart

    OldFart Well-Known Member

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    Let's hear you say that in a few months when you're standing next to us in a soup line.. Lol... Joke
     
  12. Frankenstein

    Frankenstein Well-Known Member

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    Being excited about this level is like a 17 year being excited about receiving a toy car for a present
     
  13. Stockaholic

    Stockaholic Content Manager

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    ding ding ding! wow what a day! hope everyone made out okay today! i can't wait to see where this takes us in the days/weeks/months to come! have a great weekend everyone! :)
     
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  14. StockJock-e

    StockJock-e Brew Master
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    So, margin call Monday coming?
     
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  15. Frankenstein

    Frankenstein Well-Known Member

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    Since we were at 2050 last week, a 76 handle collapse from 2113 to be at 2037 is not that impressive. Had the SPX continued to hover around 2050 until the Brexit happened and then collapsed 76 handles, then that would have been more impressive and meaningful.
     
  16. OldFart

    OldFart Well-Known Member

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    Sheesh
    You're hard to please
     
  17. stock1234

    stock1234 2017 Stockaholics Contest Winner

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    CME, CBOE, and VIRT had a decent day in a bad market, high volatility could be good for them
     
  18. Venom08

    Venom08 Active Member

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    With just seconds to go I bit the bullet and bought next week's spy 200.5p at $2.07. Right now they're up 17% from my purchase, lol. With such a poor close, expect a gap down on Monday.
     
  19. Frankenstein

    Frankenstein Well-Known Member

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    And to think, this just might be the final negative catalyst for the rest of 2016. If the Brexit had not happened, the SPX could be at 2140 to 2150 today and people would be wondering if anything could collapse the SPX non above 2100.
     
  20. Stockaholic

    Stockaholic Content Manager

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    not sure we would have seen 2140-2150 today if brexit didn't happen ... but yea it sure did look to be well on its way to a new high ... amazing to think that /ES did in fact print a new 2016 high in the immediate ETH open last night at 2119.50 that would be cash equivalent to 2125 or thereabouts i think ... but i don't know if even a bremain woulda been enough for a new high today to be honest
     

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