For the FAANG names, looks like only AAPL in the red now, the others getting some buyers today after getting beaten down badly lately
With this collapse, I might target profit taking around the 2720 to 2730 level. Of course, everything depends on the price action
One stock i like, even if it fell recently from 250 to 222, is Adobe inc (ADBE), i think their subscription plans have improved their business model by expanding their net mergins.
Despite all of the selling the VIX is still at just 23, I think it would need to spike higher before we bottom out
^^ this 100% i think we would need to see some disorderly selloff until we see a vix spike much higher something like we saw on feb. 5th of this year. jmo.
crude looking like it may want that 4-handle soon @OldFart it might time to bring out the hummer again this winter eh?
AAPL down almost 5% again The production cut news is driving this lower. Obviously it is a big world and I don't know everyone in this world, but most of my friends and family members aren't buying the new iPhone this time Also the Apple stores in my area aren't nearly as crowded as it was before
Homebuilders are getting beaten up badly lately, but they are off by just 0.03% as of now and easily outperfrom the market for the day
Russell down over 15% from its ATH while NASDAQ down over 14% from its ATH, so they aren't exactly too far away from bear market territory.
"@Frankenstein do you swing your positions, or dt?" I swing trade. My comments are about swing trading
May see a spike low tomorrow, undercutting October 29 lows. But without Dow Transports also breaking low, I would look for a bounce back. Fingers are crossed, because it's easier to make money in a bull market As for the VIX not getting a spike here...could be because we are testing these lows from an oversold condition. Looking for the 10-year yield to start rising again Will watch how homebuilders react if that happens. There's been bad reports on the housing starts, so their strength the last 2 days is surprising.
Hey guys, hope all has been well..... Quite the market this year! Literally nothing but consolidation if you look at it, lol. I'm looking at 23,995 on the DJIA. If that goes then 23,340 followed by 21,600 comes into play. But I think this selling is overblown. There's nowhere for capital but to go but stocks seeing as bonds are not going to be a great place to park money with rising rates. Nor are foreign markets looking appetizing at all since they all borrowed so much debt that was denominated in US$ (which has been rising and will continue to rally). My biggest position is shorting the euro and another is US$ calls. I have accumulated a decent chunk of QQQ, DIA, and SPY calls which expire in about a year too. I'm extremely bullish US equities overall. But if we close this year below 2017's close, then expect a low to be made some time in 2019. Worth noting is that the Nasdaq, S&P 500, and DJIA all made ATHs in different months (August, September, and October respectively) which is NOT indicative of a top. This has been the most hated bull market in history, so I am in it for the long haul and buying the dips.
Glad you're still around @Venom08 Those are some nice observations. One stat backing this up: The range for this year (Feb low to Sep high) is 16.2% on the S&P. This is one of the smallest ranges ever, and well below the average yearly range of 27%.
