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Stock Market Today: November 19th - 23rd, 2018

Discussion in 'Stock Market Today' started by bigbear0083, Nov 16, 2018.

  1. Frankenstein

    Frankenstein Active Member

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    I added in at 2637. I still expect a test of that 2730 level at some point.
     
  2. Steven_Burt

    Steven_Burt Well-Known Member

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  3. stock1234

    stock1234 2017 Stock Picking Contest Winner

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    TGT, KSS, ROST, and TJX all down after earnings, not a great earnings season for retailers :eek:
     
  4. stock1234

    stock1234 2017 Stock Picking Contest Winner

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    For the FAANG names, looks like only AAPL in the red now, the others getting some buyers today after getting beaten down badly lately
     
  5. Frankenstein

    Frankenstein Active Member

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    With this collapse, I might target profit taking around the 2720 to 2730 level. Of course, everything depends on the price action
     
  6. Nick Menard

    Nick Menard New Member

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    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.
     
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  7. Steven_Burt

    Steven_Burt Well-Known Member

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    @Frankenstein do you swing your positions, or dt?
     
  8. anotherdevilsadvocate

    anotherdevilsadvocate Well-Known Member

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    Yep it's holding up well. Could be a 8-10% bounce for XBI from here.
     
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  9. stock1234

    stock1234 2017 Stock Picking Contest Winner

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    NASDAQ now barely green YTD :eek:
     
  10. stock1234

    stock1234 2017 Stock Picking Contest Winner

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    Despite all of the selling the VIX is still at just 23, I think it would need to spike higher before we bottom out :p
     
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  11. bigbear0083

    bigbear0083 Content Manager
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    ^^ 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. :p
     
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  12. bigbear0083

    bigbear0083 Content Manager
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    crude looking like it may want that 4-handle soon :eek:

    @OldFart it might time to bring out the hummer again this winter eh? :D
     
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  13. stock1234

    stock1234 2017 Stock Picking Contest Winner

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    Haha yeah feel like this selloff is still too orderly and not much panic yet :p
     
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  14. stock1234

    stock1234 2017 Stock Picking Contest Winner

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    AAPL down almost 5% again :eek: 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 :p Also the Apple stores in my area aren't nearly as crowded as it was before
     
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  15. stock1234

    stock1234 2017 Stock Picking Contest Winner

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    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 :p
     
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  16. stock1234

    stock1234 2017 Stock Picking Contest Winner

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    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.
     
    bigbear0083 likes this.
  17. Frankenstein

    Frankenstein Active Member

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    "@Frankenstein do you swing your positions, or dt?"

    I swing trade. My comments are about swing trading
     
  18. anotherdevilsadvocate

    anotherdevilsadvocate Well-Known Member

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    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 :cool:

    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
    [​IMG]
    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.
     
  19. Venom08

    Venom08 Member

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    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.
     
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  20. anotherdevilsadvocate

    anotherdevilsadvocate Well-Known Member

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    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%.
     

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