Stock Market Discussion -- started 03/06/2018 -- updated daily !!!

[milwaukee mike]

The SPY did get to and close below the $418.30 spot today while the QQQs got below $351 and also closed below. A rescue operation will need to be put into place tomorrow and Friday to produce a bounce to squeeze the short players or the markets will go down quick like me on any Miss America contestant who is not really a dude if given the chance.

The SPY and QQQ tried to bounce the last couple of days but couldn't get going and thus they are likely to drop here. Don't just throw caution in the wind however. The rescue team typically will show up and save the day with a relief rally. I'm just saying markets are at a point here where stuff could happen.

nasdaq 5 day and 1 month look like a disaster

i'm not a chart reader like you, but even i can smell what a dead fukking skunk smells like

[Slurry Pumper]

The SPY did get to and close below the $418.30 spot today while the QQQs got below $351 and also closed below. A rescue operation will need to be put into place tomorrow and Friday to produce a bounce to squeeze the short players or the markets will go down quick like me on any Miss America contestant who is not really a dude if given the chance.

The SPY and QQQ tried to bounce the last couple of days but couldn't get going and thus they are likely to drop here. Don't just throw caution in the wind however. The rescue team typically will show up and save the day with a relief rally. I'm just saying markets are at a point here where stuff could happen.

[Madison]

As advertised, I've been downsizing since maybe May. Well, thankfully my equity exposure is way down and my fixed income is up significantly. Thankfully I'm 90/10 fixed to equities. I'm getting more and more concerned that the equity market has minor upside and major down. BOL to all, but please be cautious.

[Madison]

DNA ... very interesting play. Seems to keep holding its lower support circa 150/160. Lot of interesting investors/insiders. I have been selling/limiting exposure circa 2.20 and buying circa 160/170.

[Madison]

Been on this one for quite a while. Solid article and entry point here.

Symbotic is at a Critical Price Point: Are Big Gains in Sight? - MarketBeat

This guy maintained its price point through a very tough couple weeks. Adding on dips here.

[Madison]

Yea im a rookie in the stock market. If I buy a stock I always use limit orders else Robinhood will screw you….I bought PDD pre market this morning

Just heed my prior advice on after market. Do your homework. Welcome an best wishes.

Right now things are very volatile even though the VIX doesn't tell us so. If and when you start a position do so with amunition available to support it.

[Chiefs83]

Yea im a rookie in the stock market. If I buy a stock I always use limit orders else Robinhood will screw you….I bought PDD pre market this morning

[Madison]

Any thoughts on buying after hours on Friday

Based on some of your prior quotes I'm guessing you are not a seasoned after hours trader. Please be VERY careful and educate yourself on limit orders and bid/ask quotes. After hours trading can be a very useful tool but you wading in dangerous waters as volume is often low and the bid/ask quotes can be wildly exaggerated. BOL!

[Madison]

Have offered before. This is the future and coming with strong defense/Gov backing. I think decent entry points here. DCA in. Note "Stellantis" in the alert below.

Archer Aviation Inc. (NYSE:ACHR - Get Free Report) major shareholder N.V. Stellantis purchased 12,313,234 shares of the firm's stock in a transaction on Monday, October 16th. The stock was acquired at an average price of $5.68 per share, with a total value of $69,939,169.12. Following the completion of the transaction, the insider now owns 31,048,137 shares in the company, valued at approximately $176,353,418.16. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Large shareholders that own more than 10% of a company's stock are required to disclose their transactions with the SEC.

For anyone with curiosity in either company this a great summary article on each.

2 Electric Flying Vehicles Stocks Ready to Fly or Crash in 2024 - MarketBeat

[Slurry Pumper]

Looking for yet another bounce off of the 420 area. So the song remains the same. Keep in mind if the markets can't sustain the bounce, it typically breaks down and goes lower. For now however until further notice, play the bounce. I see the futures are beating me to the punch this morning. If the SPY can't get through yesterday's high. That's a problem. For the Qs, same deal.

[Chiefs83]

Any thoughts on the market today, what are we looking for

[Slurry Pumper]

To open the day, I'll be looking to see if the SPY gaps below the $418.30 spot. If if doesn't gap below I'll be looking for a scalp trade for at least a couple of minutes to start, which may morph into more, if it doesn't turn around, the SPY will start heading for the $410 area.
QQQs gotta hold the $351 spot for all you tech players but it is the same sort of deal. 1st a scalp of a couple of minutes which may morph into more.

What does that really mean? I'll buy a shyt load of calls this morning after the morning rush when the markets stop falling as my support numbers get closer, or on the open if things start to rise. Then almost immediately start siphoning off shares when the price moves up. I bail and get out of the way and get rid of the calls if the price hangs out below those touted numbers on hourly closes. Not all at once, but over the course of 3 to 4 hours depending on the market action, ie not a free fall situation.

[ChuckyTheGoat]

those things used to trade at a huge premium, for example in 2018 when btc was under 20k, gbtc was 30... now stuff like etcg trades at a 50%+ discount

i like etcg at this level... bito seems like a better idea than gbtc if gbtc gets to around NAV (no discount), you can sell options against bito

Thx, Mike. Appreciate your insights. Will scout those out.

[milwaukee mike]

GBTC ripping. My logic:

1) Hard for Americans to on-board purchase BTC.
2) Much easier to on-board purchase GBTC.

If people want to have Bitcoin exposure, GBTC may be the logical choice. Assuming BTC demand keeps rising, GBTC price should go up in lock-step.

those things used to trade at a huge premium, for example in 2018 when btc was under 20k, gbtc was 30... now stuff like etcg trades at a 50%+ discount

i like etcg at this level... bito seems like a better idea than gbtc if gbtc gets to around NAV (no discount), you can sell options against bito

[ChuckyTheGoat]

GBTC ripping. My logic:

1) Hard for Americans to on-board purchase BTC.
2) Much easier to on-board purchase GBTC.

If people want to have Bitcoin exposure, GBTC may be the logical choice. Assuming BTC demand keeps rising, GBTC price should go up in lock-step.

[Slurry Pumper]

Hey here we are again right at the $420ish spot. Go ahead and check my post #13690. The question remains as will this spot be yet again a place of inflection? The short answer is maybe, and by the way, this time the weekend may have a load of information that will determine what happens come Monday. The QQQ, XLF, and SMH are all hanging around levels of support, while my favorite market indicator IWM is just a little more than a slurry spurt away from reaching support at $164ish. The the other favorite market indicator $DJI is also hanging around a support level.
Add it up and it worth a try to buy in here come Monday morning from SPY $421 down to $418. Then on hourly candle stick closes when the SPY is under that, I bail lick my wounds and come back for another trade later.

[Chiefs83]

Any thoughts on buying after hours on Friday

[homie1975]

Yields at 5% it's a 16 year high,

can the Magnificent 7 and other blue-chippers crush earnings and forward guidance and save the day ?

[homie1975]

About 50% is invested in the market…rest is in the bank
What is MM?

MM = Money Market

[Madison]

Have offered before. This is the future and coming with strong defense/Gov backing. I think decent entry points here. DCA in. Note "Stellantis" in the alert below.

Archer Aviation Inc. (NYSE:ACHR - Get Free Report) major shareholder N.V. Stellantis purchased 12,313,234 shares of the firm's stock in a transaction on Monday, October 16th. The stock was acquired at an average price of $5.68 per share, with a total value of $69,939,169.12. Following the completion of the transaction, the insider now owns 31,048,137 shares in the company, valued at approximately $176,353,418.16. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Large shareholders that own more than 10% of a company's stock are required to disclose their transactions with the SEC.

Forgot to mention that I have positions in both.

[Madison]

Achr / joby

Have offered before. This is the future and coming with strong defense/Gov backing. I think decent entry points here. DCA in. Note "Stellantis" in the alert below.

Archer Aviation Inc. (NYSE:ACHR - Get Free Report) major shareholder N.V. Stellantis purchased 12,313,234 shares of the firm's stock in a transaction on Monday, October 16th. The stock was acquired at an average price of $5.68 per share, with a total value of $69,939,169.12. Following the completion of the transaction, the insider now owns 31,048,137 shares in the company, valued at approximately $176,353,418.16. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Large shareholders that own more than 10% of a company's stock are required to disclose their transactions with the SEC.

[Madison]

Gold going to hit $2000 an ounce ?

Curious trade. I did quite well mid 2020. Have been waiting for a descent under 1850. Added to my GLD around 170/1850. Outside of a March (SVB) and recent Israel situation bounce this commodity seems to want to trend lower. Add Ukraine and you get the picture. As long as interest rates are higher we should see downward pressure. Outside geopolitical/Banking look downward. Preservation of capital? I don't buy it at this level. What is Gold really worth other than jewelry?

[Chiefs83]

About 50% is invested in the market…rest is in the bank
What is MM?

[Madison]

Fair question. One retort: What do you do with your $$?

MY MM above 5%. Not a terrible spot to hide out.

[ChuckyTheGoat]

Any thoughts on the market today… I’m thinking about selling and getting out…thoughts….

Fair question. One retort: What do you do with your $$?

[Chiefs83]

Any thoughts on the market today… I’m thinking about selling and getting out…thoughts….

[mr. leisure]

Gold going to hit $2000 an ounce ?

[Slurry Pumper]

Well the SPY got cut right through the $431 spot then hung out at around the $430.50ish spot for about a half hour, took a dump and clawed back to barley close just above the low from Friday. I'm out after a close below $431 for the day and it was looking like that was the case so I bailed. Tomorrow the markets might try to bounce again, but I'm not going to participate. Put me down in the doom and gloom camp as I think we see the 200 DMA before long coming here.
Over on the QQQs its a little more bullish and I think next week may be the earnings for allot of them, but I'm still bearish overall.
Overall I think the markets are skating around on some very thin ice here. We're about a surprise attack from a Arab country away from a melt down here; or maybe a not to be outdone large force offensive by Russia over in Ukraine. Either way, I'm about as close to the exit as I can be in the markets. Not only for doom and gloom, there could be a large surprise announcement coming from all the crooks in Washington that would set the market ablaze and we would be off to the races here for a while and somehow challenging the all time highs.

[Chiefs83]

Thanks
Slurry crazy how close your numbers are

[Slurry Pumper]

Is it time to bail yet?

Nope for SPY I got $431 for my line in the sand, and that is after a daily close so lets see what happens if and when the SPY gets down to that level today.
Right this second there is a bull bear battle going on at around $432. This is a day trading level for me to buy too.

[Chiefs83]

Is it time to bail yet?

[Slurry Pumper]

The SPY needs to break out above the 50 DMA ($438.94) pretty soon (buy Friday in my estimation) or this hype machine for a rally due to the strong consumer will soon turn around and go the other way.

[hehfest]

I guess Mr. Market loves all the world turmoil. What's going on here?

Just buy every single defense (cough, cough, offense) stock in every company you can find and you will do fine. They love war and rumors of war and they become wealthier and wealthier from it. Don't think for a second all these crooks in CON-gress aren't loaded with shares in weapons stocks.

[Chiefs83]

Hell of a call…I bought when it was at 37

[Madison]

Been on this one for quite a while. Solid article and entry point here.

Symbotic is at a Critical Price Point: Are Big Gains in Sight? - MarketBeat

Bump