[Slurry Pumper]

The QQQ looks similar to the SPY with the exception of it being further along the downward spiral.


Looking at the 3 Month chart with daily candles and we can see price is riding the $340 level of support. It has the same bear flag action going on as the SPY does. All the moving averages are above the price, the stochastics have been riding the bottom for the last few days, and the MACD is weakening everyday as well.
I took a short position here via PUTS earlier last week and unless the price can find a way to get above the $348 level, I'll be on the PUT train. The goal line defense will be out for the $317.50 low.



In the 6 Month chart with Weekly candle sticks, you can see where that $325.50 level is pretty good looking support. The 100 WMA will probably be around the $328 spot which will set up a buy zone for me as a short term stop to begin with. There should be some kind of defense at this spot put up by the bulls. The stochastics have flipped but the MACD is increasing for a little glimmer of hope for the bulls.




Checking out that 3 Year chart with Monthly candlesticks, it is similar to the SPY with the price spiking below the 20MMA for 2 of the last 3 months. Price is currently below the average and the bull / bear battle is on. I see support at the $310 spot and the $300 level if the bears win in the short term. The bulls need to recapture the $370 spot to get back in control on this chart. The stochastics are moving down with the K and D lines spread apart which is a bad sign. The MACD is sinking and it looks like it is picking up speed here. Aside for a couple of stops here, I see a pretty good slide is possible on a long term basis. I'm thinking of picking up some PUTS with an expiration of Jan 2023 here as a lets see how it goes. A quick look shows me that I can get the 1/20/23 PUTS at the 335 strike for $29.06. I also like the same expiration but with the 250 strike here for a $7.45 price. Mark that one down on a little note to put up on the frig.

[KVB]

Agree with the puts, was trying to figure the best strike price.

Good stuff slurry.

[dlowilly]

So where to invest if you have cash on the sidelines and don’t want to go the put options route but tend to agree with the negative sentiment?

[RangeFinder]

I have one more call option to dump i picked up a few weeks ago, as far as any puts, I'm going to wait around a little, I think we may see another rally this week, but after, I'll be shopping some puts that expire late this year or early next. I'll be hedging them also for safety. Hard to tell which way this market is going short term, but over the course of 8 month's it loos like it could see a 10-15% drop. Fed needs to quit meandering and do what it takes to get this inflation in check.

[homie1975]

So where to invest if you have cash on the sidelines and don’t want to go the put options route but tend to agree with the negative sentiment?

inverse ETF's are available, but most are generally leveraged 3 or 4x so so they are volatile and your exposure is heightened significantly in either direction.

if you wish to keep it simple you can always go SQQQ which is the inverse of QQQ.

there are also inverses of DIA and SPY but i don't know those symbols.

[KVB]

inverse ETF's are available, but most are generally leveraged 3 or 4x so so they are volatile and your exposure is heightened significantly in either direction.

if you wish to keep it simple you can always go SQQQ which is the inverse of QQQ.

there are also inverses of DIA and SPY but i don't know those symbols.

Be careful there, they have to rebalance daily and holding those for any length of time can be counterproductive.

The S&P short etf is “SH”

These really aren’t considered buy and hold etfs though. They should be traded and evaluated almost daily.

[dlowilly]

inverse ETF's are available, but most are generally leveraged 3 or 4x so so they are volatile and your exposure is heightened significantly in either direction.

if you wish to keep it simple you can always go SQQQ which is the inverse of QQQ.

there are also inverses of DIA and SPY but i don't know those symbols.

Be careful there, they have to rebalance daily and holding those for any length of time can be counterproductive.

The S&P short etf is “SH”

These really aren’t considered buy and hold etfs though. They should be traded and evaluated almost daily.

Yeah I'm not crazy about those inverse etfs I've gotten burned before, I'm just wondering if I'm missing something somewhere even outside of the markets. Those I bonds mentioned earlier are new to me but of course the amount you can invest is limited. Guess I need to look in to put options also.

Would love to find the next Bitcoin type investment, as gamblers we were some of the first to know about it and I at least missed the boat on that one.

[alling]

VIX

[homie1975]

Be careful there, they have to rebalance daily and holding those for any length of time can be counterproductive.

The S&P short etf is “SH”

These really aren’t considered buy and hold etfs though. They should be traded and evaluated almost daily.

Agree KVer, i would almost never short the market long term, it's an in-and-out trading game daily or weekly, hence i do not do it.

[trobin31]

Looks like we might get a relief bounce here, whales rollling back into crypto…


shipping stocks look really good, especially ZIM GNK DSX

[Slurry Pumper]

I do think we get that relief bounce and it may start today on turn around Tuesday. I have other numbers that are lower but the old $433 number for SPY if reached today looks like a pretty good spot for a scalp to swing trade for me today.
Over on the QQQ the $338.25 is the support which is right where they are at. If Da bulls can't hold this number this morning, $334.75 offers another short term spot that I will look at, but the spot I really like is the gap fill from $332.50 down to $328.50 spot. That seems like a long way off so they might not get there today.
IWM has some pretty good support at the $196ish spot that I would be interested in as well, and it isn't that far away. This chart looks to be the leading indicator that it is.
The scalp to swing trade I like best however is over in the SMH. Yesterday it made a low for the year before getting off the mat and rocketing right up to resistance at $245.85. Then it closed, over night it pulled back slightly and if we are going to have a rally type of day, I think this is the index that benefits the most and it probably starts here. It is and has been oversold for about a week now with the bull bear battle going on right at this $245.85 level. For the more conservative swing trader you can wait until the price gets up above $247 on hourly candle stick closes before jumping aboard.

[Poker_Beast]

Good morning stock market!!

[Madison]

inverse ETF's are available, but most are generally leveraged 3 or 4x so so they are volatile and your exposure is heightened significantly in either direction.

if you wish to keep it simple you can always go SQQQ which is the inverse of QQQ.

there are also inverses of DIA and SPY but i don't know those symbols.

ProShares. Where I traded in the 2007-2009 market. Tons of inverse eTF's.

404 (proshares.com)

[Madison]

Yeah I'm not crazy about those inverse etfs I've gotten burned before, I'm just wondering if I'm missing something somewhere even outside of the markets. Those I bonds mentioned earlier are new to me but of course the amount you can invest is limited. Guess I need to look in to put options also.

Would love to find the next Bitcoin type investment, as gamblers we were some of the first to know about it and I at least missed the boat on that one.

IBonds are a no brainer right now. Use them to balance your portfolio. Do NOT use your 10K yearly per SSN (I bought at 7.12%) until it adjusts May 1. Analysts are predicting 9.6 % guaranteed. You do need to hold them a minimum of 1 year and subject to 3 months interest inside 5 years. Personally I'm grabbing 9.6% guaranteed.

These can also be gifted to children/grandchildren (Additional SSN) and apparently you can get another 5K per your tax return but I have limited knowledge here.

[Slurry Pumper]

Hey so we got the rally started yesterday, but like in Pulp Fiction, lets not start sucking each other's junk just yet. If you look at the indices they just ran up to the upper limits of that bear flag that has been in the making for the last week or so. We need to break out of that upper boundary today before I say the rally is on for a little while.
Netflix didn't help the rally situation as they reported some bad news that will certainly weigh on the market. Its down further than my first wife on any garage band member's member in the pre-market and as such I like a scalp trade if it comes down to the $251 and then $245 level in a falling knife manner as the morning starts out. I'm not looking to hang on to this at all, and I will be out after a quick couple of percentage points with my "Spring theory" trade, so I plan on owning this for about 30 minutes if things work out as planned here. I jump ship if that knife cuts down past the $238.50 level on hourly closes. So you may have guessed it but it is a typical 3 entry scalp trade for me so 17%, 33%, then the 50% as we go before bailing if things don't turn around. Then average all the entries together for the exit in the same manner after a 2% gain with a little bit left over if for some reason it just rocket ships into orbit.

[RangeFinder]

Picked up some AMD at the open, put in a Jul call option on PLTR. Chips may run the next 3-4 weeks, so trying to get in cheap. Sector is over sold.

Other than that, not doing much else.

Slurry, hope that Spring theory works out for you, a little too saucy for me to try.

[Slurry Pumper]

Picked up some AMD at the open, put in a Jul call option on PLTR. Chips may run the next 3-4 weeks, so trying to get in cheap. Sector is over sold.

Other than that, not doing much else.

Slurry, hope that Spring theory works out for you, a little too saucy for me to try.

Right now the spring is pulled about as far as it is going to get. On the fly, I'm not getting out unless the price starts to head south again below $215ish. The recoil is on its way, but it is taking some patience.

[RangeFinder]

Right now the spring is pulled about as far as it is going to get. On the fly, I'm not getting out unless the price starts to head south again below $215ish. The recoil is on its way, but it is taking some patience.

You have more patience than I would have. Hope you get your pop.

[Madison]

Even the supposed smartest guy in the room can err.

Ackman’s Pershing Square share price is also expected to retreat after these results. He owns 3.1 million shares of the company. At the time, these shares were worth about $1.1 billion, which made him a top 20 investor in the company. After this sell-off, this stake is worth about $799 million, meaning that he has lost over $300 million. (I'm thinking this is way worse).

Three months ago hedge fund manager William Ackman cheered when Netflix's stock price suddenly dropped, buying up 3 million shares as other investors fretted over weak subscriber growth at the streaming company.

Short read here … Ackman's fund likely feeling the Netflix pain as shares plunge (yahoo.com)

[Madison]

Picked up some AMD at the open, put in a Jul call option on PLTR. Chips may run the next 3-4 weeks, so trying to get in cheap. Sector is over sold.

Other than that, not doing much else.

Slurry, hope that Spring theory works out for you, a little too saucy for me to try.

Keep ASML in your sights as well, even though shares have rebounded nicely lately.

[Madison]

You have more patience than I would have. Hope you get your pop.

LOL, he makes the term "Day Trader" the ultimate understatement. I think his circa 7am post, he had a 30 minute trade window. Patience I'm not Sure. The threads founding father, now that man has patience.

[Slurry Pumper]

LOL, he makes the term "Day Trader" the ultimate understatement. I think his circa 7am post, he had a 30 minute trade window. Patience I'm not Sure. The threads founding father, now that man has patience.

Sometimes these things don't work out like I like them too. Volume has dried up and now its just a waiting game to see if we can get some movement. Its been a slow rise up so I'm still in it, but it is not going like I like it to for sure.

My SMH trade from yesterday is working out so it washes. that's the life of a trader I guess.

[RangeFinder]

Sometimes these things don't work out like I like them too. Volume has dried up and now its just a waiting game to see if we can get some movement. Its been a slow rise up so I'm still in it, but it is not going like I like it to for sure.

My SMH trade from yesterday is working out so it washes. that's the life of a trader I guess.

You may see the bounce back an hour before the close or tomorrow morning. There's just a lot to chew on with the valuation of that stock. Some out there saying it should be in the 228-230 range.

[Enkhbat]

Really shocking drop for netflix stock, surely that is overreaction. no?

[Slurry Pumper]

Really shocking drop for netflix stock, surely that is overreaction. no?

No its probably totally ok. This company has issues and no real answers for it. Being in the fangman group means it was probably elevated in price to begin with.

No way I hold this over night, hell, I'm thinking about cutting and running now, but it just hangs in there with no more movement with all the volume gone away.

[Madison]

Sometimes these things don't work out like I like them too. Volume has dried up and now its just a waiting game to see if we can get some movement. Its been a slow rise up so I'm still in it, but it is not going like I like it to for sure.

My SMH trade from yesterday is working out so it washes. that's the life of a trader I guess.

No disrespect my friend, just commenting on trading styles. I could only wish I had a semblance of your skill interpreting charts and their potential shorter term movements. BOL!!

[RangeFinder]

Volume may come in late on flix. Bottom fishers will come in with the hope it bounces back in after hours trading.

[Madison]

Really shocking drop for netflix stock, surely that is overreaction. no?

One man's thought. Their "moat" was gigantic 10 years ago. They were at the forefront of streaming. I saw this coming (Was a DVD by mail customer) but never took advantage. That "moat" has diminished considerably, DIS, HBO, Youtube, Fubo, and on and on. I forget who was credited with saying it but "Why don't we combine all these streaming services and call it cable" LOL.

Saturation of the market and theft of their services. They turned a blind eye to gain market saturation and that failed miserably. Help me understand where they go from here? They shunned lower price subscription and lower subscription rates and now have very few places to turn.

[RangeFinder]

So there are a lot of people saying that treasury yields will be going down, which could be good for growth stocks. Question, which growth stocks, there are a ton?

[Slurry Pumper]

The Netflix spring theory didn't work out today, I unloaded the stock just before the close at the $222 level. That's a loss for the day on that trade but not a blow out smack my nards against the wall loss. I'll be back at it tomorrow.

[Enkhbat]

What is the most traded REIT stock? With the significant raise in mortgage rates, are those stocks in trouble?

[homie1975]

Really shocking drop for netflix stock, surely that is overreaction. no?

Netflix needs to capture more Int'l market and/or update their model in order to reverse the trajectory.

It's not good right now.

In this environment, it could easily tumble another 50% from here as it will continue to sell off if a broader market sell off transpires.

It is on extremely shaky ground right now.

[homie1975]

No its probably totally ok. This company has issues and no real answers for it. Being in the fangman group means it was probably elevated in price to begin with.

No way I hold this over night, hell, I'm thinking about cutting and running now, but it just hangs in there with no more movement with all the volume gone away.

For me, the main "N" in FAANNG has been NVIDIA for quite some time.

I have always considered Netflix the weakest of the FAANNGS, but I do own it, and have taken a drubbing.

[mr. leisure]

Netflix needs to capture more Int'l market and/or update their model in order to reverse the trajectory.

It's not good right now.

In this environment, it could easily tumble another 50% from here as it will continue to sell off if a broader market sell off transpires.

It is on extremely shaky ground right now.

Password sharing is an issue too I believe .

[flyingillini]

Password sharing is an issue too I believe .

JJ Gold cost me 30k yesterday. Thanks a lot. Get your own account you cockfuck.