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05-06-2022, 10:00 AM
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#3811
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PA Steward
Join Date: Mar 2001
Location: Del Boca Vista
Posts: 88,646
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Question of the moment...will 4060 hold on the ES? If so, expect a bounce back up to around 4180.
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05-06-2022, 10:08 AM
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#3812
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Educated Speculation
Join Date: Feb 2014
Location: Where Palm Trees Sway
Posts: 914
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Quote:
Originally Posted by Rex Phinney
Man I don't know about that, an unprofitable 18 month removed IPO and a chip maker fresh off a COVID spike trading at 51 times earnings???
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I hear you Rex. I have a small position, so I can't get hurt. And those are 10 year horizon stocks for me.
__________________
"Horse Sense" is the thing a horse has which keeps it from betting on people.
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05-06-2022, 10:10 AM
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#3813
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Educated Speculation
Join Date: Feb 2014
Location: Where Palm Trees Sway
Posts: 914
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Quote:
Originally Posted by PaceAdvantage
Question of the moment...will 4060 hold on the ES? If so, expect a bounce back up to around 4180.
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Good question. Have not even looked at the market yet this morning. Will gingerly flip on FBN here in a minute as I cross my fingers.
__________________
"Horse Sense" is the thing a horse has which keeps it from betting on people.
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05-06-2022, 02:36 PM
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#3814
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Registered User
Join Date: Sep 2007
Location: Boston+Ocala
Posts: 23,764
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we didn't get the big selloff at the close yesterday, but you might just get that one tonight or Monday. there are to many people in these ETF's, singles, doubles, and triple bangers and the options markets are very wild as well.
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05-07-2022, 07:17 AM
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#3815
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Registered User
Join Date: Sep 2007
Location: Boston+Ocala
Posts: 23,764
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2021 Derby Day handle was $233 million
pay attention to that number, any drop in handle always signals a recession for the current year.
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05-07-2022, 06:26 PM
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#3816
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Registered User
Join Date: Oct 2007
Location: Houston , Tx.
Posts: 9,594
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Market's corrupt like everything else.
Interest rate are raised a quarter and on the same day the Dow gains 1000.
Guidelines are out the window at every turn. Just about everything sucks!!!
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05-08-2022, 02:27 AM
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#3817
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Registered User
Join Date: Sep 2007
Location: Boston+Ocala
Posts: 23,764
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juts an update
Churchill Downs set another handle record for Derby day...that indicator is pretty good and says no recession for 2022.
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05-08-2022, 09:56 AM
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#3818
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Veteran
Join Date: May 2021
Location: NYC
Posts: 1,554
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Quote:
Originally Posted by lamboguy
Churchill Downs set another handle record for Derby day...that indicator is pretty good and says no recession for 2022.
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wanna see my trading account?
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05-09-2022, 11:39 AM
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#3819
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Registered User
Join Date: Feb 2003
Location: NE Ohio
Posts: 16,487
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Another day, more carnage. I think the only thing that can save the market is if the Fed spooks themselves. They see the markets imploding with the interest rate hikes. At what point do they scare themselves and stop? I can see that happening.
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05-09-2022, 11:52 AM
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#3820
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PA Steward
Join Date: Mar 2001
Location: Del Boca Vista
Posts: 88,646
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The markets have done nothing but gone up for a LONG time (except for the COVID blip, and even then, it didn't last long).
Nothing says they can't go down for just as long as they've gone up...I know it's a frightening thought...but there could be years of a down/sideways market coming....years and years and years
A price needs to be paid for what happened during COVID...all that money spent...all those years of Fed manipulation...all this new money being spent on Ukraine...
it's not going to be fun
Last edited by PaceAdvantage; 05-09-2022 at 11:54 AM.
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05-09-2022, 11:58 AM
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#3821
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Registered User
Join Date: Feb 2003
Location: NE Ohio
Posts: 16,487
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agree 100%
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05-09-2022, 11:59 AM
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#3822
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Registered User
Join Date: Sep 2007
Location: Boston+Ocala
Posts: 23,764
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Quote:
Originally Posted by PaceAdvantage
The markets have done nothing but gone up for a LONG time (except for the COVID blip, and even then, it didn't last long).
Nothing says they can't go down for just as long as they've gone up...I know it's a frightening thought...but there could be years of a down/sideways market coming....years and years and years
A price needs to be paid for what happened during COVID...all that money spent...all those years of Fed manipulation...all this new money being spent on Ukraine...
it's not going to be fun
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you couldn't be more right. the stocks that most people have that led the upswing are not going to be the stocks to lead the next bull market anyway. so selling yourself out is the right way to go.
the first downleg is S+P 3700
the next one is the lows of 2010
then you can go down to 2007
that's as far as got with this one, i hope i don't need to do anymore work on this.
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05-09-2022, 04:03 PM
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#3823
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Registered User
Join Date: Sep 2007
Location: Boston+Ocala
Posts: 23,764
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the QQQ looks like its headed towards 281 for now. Gold looks like its going for $1788 now. they are selling everything.
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05-09-2022, 04:05 PM
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#3824
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Registered User
Join Date: Sep 2007
Location: Boston+Ocala
Posts: 23,764
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you don't want to own anything right now
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05-09-2022, 05:39 PM
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#3825
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Veteran
Join Date: May 2021
Location: NYC
Posts: 1,554
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Quote:
Originally Posted by lamboguy
you couldn't be more right. the stocks that most people have that led the upswing are not going to be the stocks to lead the next bull market anyway. so selling yourself out is the right way to go.
the first downleg is S+P 3700
the next one is the lows of 2010
then you can go down to 2007
that's as far as got with this one, i hope i don't need to do anymore work on this.
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S&P was at 3225 before Covid started....it was a steady 12% for the past 6 years before
If we take the usual 12% gain for 2 years we get 4045
Now we are at 3991....
WE ARE NOW F$%^&D!!!!!
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