Welcome Stockaholics!

We are a new and fast growing financial forum! Sign up for free and let's talk stocks!

  1. Do you want to help develop this community? We are looking for contributions from investors and traders like you! What stocks do you follow? What is hot right now? Sign up and get in on the ground floor of the newest, fastest growing financial forum!
    Dismiss Notice
  2. You will notice a live chat widget on the right. Click in to join us and lets hear about how you nailed that last UWTI trade!
    Dismiss Notice

Stock Market Today: May 6th - 10th, 2019

Discussion in 'Stock Market Today' started by bigbear0083, May 4, 2019.

  1. stock1234

    stock1234 2017 Stockaholics Contest Winner

    Joined:
    Apr 3, 2016
    Messages:
    3,860
    Likes Received:
    2,617
  2. OldFart

    OldFart Well-Known Member

    Joined:
    Apr 3, 2016
    Messages:
    1,395
    Likes Received:
    1,132
  3. OldFart

    OldFart Well-Known Member

    Joined:
    Apr 3, 2016
    Messages:
    1,395
    Likes Received:
    1,132
    Yen took a crap then bounced....

    6j.png
     
  4. AverageJoesTrades

    AverageJoesTrades Well-Known Member

    Joined:
    May 24, 2016
    Messages:
    956
    Likes Received:
    476
    Fake News!!!!!!! j/k

    Market did get a nice pop from that news.

    I have a feeling that something is in the works - either another option or punting the meeting to another date.
     
    OldFart and stock1234 like this.
  5. OldFart

    OldFart Well-Known Member

    Joined:
    Apr 3, 2016
    Messages:
    1,395
    Likes Received:
    1,132
    No telling...glad I wasn't in a trade when he said it...I would have been on the wrong end
     
    bigbear0083 and stock1234 like this.
  6. bigbear0083

    bigbear0083 Content Manager
    Staff Member

    Joined:
    Mar 29, 2016
    Messages:
    16,423
    Likes Received:
    5,331
    A Semi-Serious Decline
    Thu, May 9, 2019

    One sector that has been hit especially hard this week has been semiconductors. On top of the escalating trade tensions with China of which the sector is highly exposed, weak commentary from Intel (INTC) hasn't helped. While off its lows of the day, the S&P 500 Semiconductor and Semiconductor Equipment group is still down more than the broader market with a decline of over 1.5% as of the early afternoon. If that weakness holds into the close, it will mark the fourth straight day of 1%+ declines. To put that kind of streak into perspective, since the lows of the financial crisis, there have only been three other four-day stretches where the group showed declines of a similar magnitude and the last time the group had a longer streak was 15 years ago in April 2004! The most recent of the three prior four-day streaks of 1%+ declines was back in August 2015.

    As far as the semiconductor group's price chart is concerned, the picture isn't any prettier. For now, today's drop has pushed the sector below its 50-DMA for the first time since January. In the process, the group also sliced right through what was potential support at levels that acted as support in the late summer/ early fall of 2018.

    [​IMG]
     
    OldFart likes this.
  7. bigbear0083

    bigbear0083 Content Manager
    Staff Member

    Joined:
    Mar 29, 2016
    Messages:
    16,423
    Likes Received:
    5,331
    this week has been pretty noteworthy as it has been our first major pullback in the market since the xmas eve. massacre.

    but, i found it interesting that even despite this week's large decline in the indices up to this point, this is still one of the calmest starts to a year since '95, even calmer than 2017 which as you guys might recall was one of the calmest market years we've ever had as the chart below would illustrate.

    the average pullback to start the first 5 month of a year is -8.5%. we're currently around -2.5% on the pullback up to this point (albeit, it seems like it all came this week :p).

    this can certainly all change in a blink if the china tariffs goes full blown we shall see. :p

    [​IMG]
     
    stock1234, Three Eyes and OldFart like this.
  8. OldFart

    OldFart Well-Known Member

    Joined:
    Apr 3, 2016
    Messages:
    1,395
    Likes Received:
    1,132
    trump3.jpg
    lol
     
    stock1234 and bigbear0083 like this.
  9. OldFart

    OldFart Well-Known Member

    Joined:
    Apr 3, 2016
    Messages:
    1,395
    Likes Received:
    1,132
    @bigbear0083
    Markets pulling back now...they must have read your post....lol
     
    bigbear0083 likes this.
  10. anotherdevilsadvocate

    anotherdevilsadvocate Well-Known Member

    Joined:
    Apr 3, 2016
    Messages:
    3,304
    Likes Received:
    1,921
    JMIA -20%, Citron called it a fraud.
     
    stock1234 and OldFart like this.
  11. OldFart

    OldFart Well-Known Member

    Joined:
    Apr 3, 2016
    Messages:
    1,395
    Likes Received:
    1,132
  12. stock1234

    stock1234 2017 Stockaholics Contest Winner

    Joined:
    Apr 3, 2016
    Messages:
    3,860
    Likes Received:
    2,617
    Thought about going long into tomorrow if we are down big today, but we aren’t down enough heading into a binary event today :p Futures and the Chinese markets will be fun to watch tonight
     
    OldFart and bigbear0083 like this.
  13. OldFart

    OldFart Well-Known Member

    Joined:
    Apr 3, 2016
    Messages:
    1,395
    Likes Received:
    1,132
    I may have to stay up tonight and watch futures....I don't think the market volatility is quite over yet
     
    stock1234 and bigbear0083 like this.
  14. anotherdevilsadvocate

    anotherdevilsadvocate Well-Known Member

    Joined:
    Apr 3, 2016
    Messages:
    3,304
    Likes Received:
    1,921
    A couple of biotechs down -30% after hours, PBYI and FGEN. It's not like they are pure speculation, each has $200 million sales annually.
     
    OldFart and stock1234 like this.
  15. bigbear0083

    bigbear0083 Content Manager
    Staff Member

    Joined:
    Mar 29, 2016
    Messages:
    16,423
    Likes Received:
    5,331
  16. OldFart

    OldFart Well-Known Member

    Joined:
    Apr 3, 2016
    Messages:
    1,395
    Likes Received:
    1,132
    SPY stuck in a range right now
    looking for a breakout to the upside...we'll see

    SPY.png
     
    stock1234 likes this.
  17. OldFart

    OldFart Well-Known Member

    Joined:
    Apr 3, 2016
    Messages:
    1,395
    Likes Received:
    1,132
    NG has gone ballistic....watching the SPY and totally missed the move... aarrgghh

    ng.png
     
    stock1234 and AverageJoesTrades like this.
  18. AverageJoesTrades

    AverageJoesTrades Well-Known Member

    Joined:
    May 24, 2016
    Messages:
    956
    Likes Received:
    476
    UGAZ/UNG have been a thing of beauty today!
     
    stock1234 and OldFart like this.
  19. stock1234

    stock1234 2017 Stockaholics Contest Winner

    Joined:
    Apr 3, 2016
    Messages:
    3,860
    Likes Received:
    2,617
    The DOW and the SPX green now :eek: We aren’t entirely out of the woods just yet since we still don’t know how the Chinese will retaliate, market probably hoping that both sides will work out some kind of a deal soon and the 25% tariffs won’t stay for too long :p
     
    OldFart likes this.
  20. stock1234

    stock1234 2017 Stockaholics Contest Winner

    Joined:
    Apr 3, 2016
    Messages:
    3,860
    Likes Received:
    2,617
    Not a very good first day for UBER :eek:
     
    OldFart likes this.

Share This Page