you want levels?Philip J Fry said:
What are your thoughts on the Nasdaq? Just looking at the 1Y and 5Y MACDs indicates we have a long way down left to go.
You don’t trade for money, you trade for freedom.
Stock Markets
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Last: 4 min ago by giddings_ag_06
Yeah. Just curious to see if you are reading it like I am. Do you think testing the low 11K range is in the cards?
some stocks that were relatively strong but that I think are short candidates. Note: you can't just blindly enter these, and have to manage risk
- IBM - big earnings gap, below 137 is a trigger
- ETN - trigger below 146, target 140
- KMB - huge earnings gap, trigger below 137
- UAL - same thing, trigger below 50
You don’t trade for money, you trade for freedom.
Stocks that look good:
- AMT, cut below 256
- MDLZ, buy at 64, cut at 62
- SYY, buy at 86, cut below 82
- EA, this looks great, like it wants to test the 200. Safest entries are above 128.6 with cut when it gets below 127 or ideally, picking up around 124.5. Looking at the options flow for this, it's getting big hits. I think this will be something to look at next week
- RF - big volume the last couple of days on earnings. Holding up OK. This is easy to trade from here. Below 20 and you cut
- CLX, kind of close to earnings, it has a big gap above to fill and a gap below. Ideally, I'd like to see the gap below fill, but the volume from Friday is worth paying attention to. Above 153 for a long or 148.7 touch. Huge hits on options flow. Will one of you that's better at options flow confirm this for me?
- WDC - a board and OA favorite!! I think this has bottomed. Cut on close below 48. Easy peasy. Looks like big hits on options too.
- AN - this one confounds me, but this looks like it can go. I'd like to see an 8/21 cross before I got long, but it could be too late.
- TGTX - beaten into the ground. Their main drug is ublituximab. Maybe the doc can enlighten us on this? I think you could take a lotto around here.
You don’t trade for money, you trade for freedom.
Good stuff
NDX is trickier, but here's my thoughts on key levels:
Above:
Below:
11K is 35% off of ATH, so not impossible, but we won't get there in a straight line either. the 10600 area is also a big one. We haven't had two red quarters in a row on the Nasdaq since 2008, so some food for thought on that. I bolded the ones I think immediately matter for direction.
Above:
- 19915
- 17660
- 16650
- 14880
- 14425
- 14190
- 13970
- 13860**
- 13515
- 13433**
Below:
- 13255
- 12960**
- 12530
- 12220
- 11000 area
11K is 35% off of ATH, so not impossible, but we won't get there in a straight line either. the 10600 area is also a big one. We haven't had two red quarters in a row on the Nasdaq since 2008, so some food for thought on that. I bolded the ones I think immediately matter for direction.
You don’t trade for money, you trade for freedom.
Enough market crash talk.
Hacienda Smoked Pulled Pork tacos in route.
Wealth gained hastily will dwindle. but whoever gathers little by little will increase it.
Proverbs 13:11
Proverbs 13:11
Aggie Baseball is bullish and fun to watch again
Yum. You have some nice butts , FJ.
Just remember that when everyone gets bearish, the bear market is over.
Nice butts.
Nice butts.
You don’t trade for money, you trade for freedom.
Bob Knights Liver said:$30,000 Millionaire said:
Touching 300 is -40% on the year. Just saying.
I think that's good to keep in context. The 2020 crash was roughly 20% off highs and the 2018-2019 V was roughly 15% off highs. Going lower that ~3750 is going to require a larger percentage pullback than we saw for covid. I am not saying that won't happen or that Federal policies haven't created a bigger bubble, but that would be a significant number.
Now do early 2000s and 2008 for reference.
Some would suggest we're in a bigger bubble now than we were then.
Not saying we'll get there (although I wish we would), but we've hit ~2,400 twice in the last 4 years.
2000 was a legit bubble. 2008 the financial world almost collapsed.
You don’t trade for money, you trade for freedom.
$30,000 Millionaire said:
Just remember that when everyone gets bearish, the bear market is over.
Nice butts.
What?
$30,000 Millionaire said:
2000 was a legit bubble. 2008 the financial world almost collapsed.
And we are at levels now that make both of those look like "little redhead step stuff" we used to laugh at….I've got to get back to my story but jeez we are ****ed.
So you think big problems ahead? Timeline 1 to 2 yrs? 6 mos?
I've thought we have a chance to get to 335 on SPY. I think there's a tiny gap around there.
I've thought we have a chance to get to 335 on SPY. I think there's a tiny gap around there.
austinAG90 said:$30,000 Millionaire said:
2000 was a legit bubble. 2008 the financial world almost collapsed.
And we are at levels now that make both of those look like "little redhead step stuff" we used to laugh at….I've got to get back to my story but jeez we are ****ed.
You can't leave us hanging like that.
You don’t trade for money, you trade for freedom.
I said I would fade NQ 15200,I will buy 13200! If 13200 does not hold you will see acceleration to the downside and a break of Feb lows! I gave you my long and short strategy, Yes I will go from long to short with 2 key strokes! You got to always have 2 game plans!
— PacMan (@MillionaireBiz1) April 24, 2022
This is an amazing NQ trader.
You don’t trade for money, you trade for freedom.
Yikes, new fence up around the FED in Washington DC.
Says for renovations but you never can tell these days
Says for renovations but you never can tell these days
FJ smoking pork butts, photo above.Brian Earl Spilner said:$30,000 Millionaire said:
Just remember that when everyone gets bearish, the bear market is over.
Nice butts.
What?
speaking of, I have 3 that I picked up on sale need to get rolling. Low and slow! I buy the dip on pork butts, .99 a lb never tasted so good!
What a cawktease. ;-)
my trick is smoke them on the pit from 7-11pm. Then finish in the oven over night. Pull and serve for lunch. I can enjoy company all day without tending to the smoker or smelling like smoke all day. I can also go to bed at a reasonable time.BREwmaster said:FJ smoking pork butts, photo above.Brian Earl Spilner said:$30,000 Millionaire said:
Just remember that when everyone gets bearish, the bear market is over.
Nice butts.
What?
speaking of, I have 3 that I picked up on sale need to get rolling. Low and slow! I buy the dip on pork butts, .99 a lb never tasted so good!
austinAG90 said:$30,000 Millionaire said:
2000 was a legit bubble. 2008 the financial world almost collapsed.
And we are at levels now that make both of those look like "little redhead step stuff" we used to laugh at….I've got to get back to my story but jeez we are ****ed.
Ragoo said:my trick is smoke them on the pit from 7-11pm. Then finish in the oven over night. Pull and serve for lunch. I can enjoy company all day without tending to the smoker or smelling like smoke all day. I can also go to bed at a reasonable time.BREwmaster said:FJ smoking pork butts, photo above.Brian Earl Spilner said:$30,000 Millionaire said:
Just remember that when everyone gets bearish, the bear market is over.
Nice butts.
What?
speaking of, I have 3 that I picked up on sale need to get rolling. Low and slow! I buy the dip on pork butts, .99 a lb never tasted so good!
Mrs FJ was at Sams and they were buy one get one free. So she bought 2 -12lb'ers which ended up being $27. It's been a thing with me and my sons we start early Saturday morning all together around 5:30am (we are all early risers anyway) , then by 5-6 that evening generally the brisket or pork butts or something of that nature are ready. All day is bacon wrapped stuffed jalapeños, baby back ribs, chicken wings, hanging out, horse shoes, axe throwing, talking stocks, cold beer and enjoying the process.
Has and continues to be been some great memories.
Wealth gained hastily will dwindle. but whoever gathers little by little will increase it.
Proverbs 13:11
Proverbs 13:11
austinAG90 said:$30,000 Millionaire said:
2000 was a legit bubble. 2008 the financial world almost collapsed.
And we are at levels now that make both of those look like "little redhead step stuff" we used to laugh at….I've got to get back to my story but jeez we are ****ed.
austinAg90 with the drive by. Leaves the whole board hanging for the weekend.
Wealth gained hastily will dwindle. but whoever gathers little by little will increase it.
Proverbs 13:11
Proverbs 13:11
Going into last week, I told myself that I would not be taking trades to the long side until QQQ closed over 348. It served me well, having my most profitable week since the week before Thanksgiving. My best trades were shorts, but I probably shouldn't have been bear biased either until a close below 338.
When we closed Thursday below the range that QQQ had been sitting in for a week and a half, everyone should have been ready to put on some shorts Friday morning. When we got that small gap up on Friday morning, it was definitely game on.
I decided to enter a FB short, because I figured it would make it back to Thursday's low, with potential down to 180. It worked out well, and was my best trade of the week.
What I'm upset about, is not realizing how perfect the setup was on GOOGL. It closed Thursday at 2500, which was a spot it held several times since January.
With QQQ closing below the range the previous day, and GOOGL giving a tiny gap up, a short through Thursday's low at 2490 should have been entered with violence. This type of setup happens a handful of times per year.
GOOGL Daily chart after Thursday:
What GOOGL did on Friday:
When we closed Thursday below the range that QQQ had been sitting in for a week and a half, everyone should have been ready to put on some shorts Friday morning. When we got that small gap up on Friday morning, it was definitely game on.
I decided to enter a FB short, because I figured it would make it back to Thursday's low, with potential down to 180. It worked out well, and was my best trade of the week.
What I'm upset about, is not realizing how perfect the setup was on GOOGL. It closed Thursday at 2500, which was a spot it held several times since January.
With QQQ closing below the range the previous day, and GOOGL giving a tiny gap up, a short through Thursday's low at 2490 should have been entered with violence. This type of setup happens a handful of times per year.
GOOGL Daily chart after Thursday:
What GOOGL did on Friday:
Lots of truth here…..especially the ending.
If your a perfectionist, trading isn't for you. *Most* trades won't go perfectly. You'll enter a little late, exit early, get shaken out of a trend, get stopped and have it reverse your way. All part of it: Goal is just to collect some profit each time & keep a lid on losses
— Adam Mancini (@AdamMancini4) April 24, 2022
Wealth gained hastily will dwindle. but whoever gathers little by little will increase it.
Proverbs 13:11
Proverbs 13:11
futures opening slightly down.
Look for 4235 and 4220 to offer support, followed by 4190.
On the up side, if 4260 is cleared with confirmation, look for 4297 and 4325.
Look for 4235 and 4220 to offer support, followed by 4190.
On the up side, if 4260 is cleared with confirmation, look for 4297 and 4325.
You don’t trade for money, you trade for freedom.
I'm glad you've decided to share with the class!
You don’t trade for money, you trade for freedom.
Boys are 3 and 7... this is some goals right here.FJ43 said:Ragoo said:my trick is smoke them on the pit from 7-11pm. Then finish in the oven over night. Pull and serve for lunch. I can enjoy company all day without tending to the smoker or smelling like smoke all day. I can also go to bed at a reasonable time.BREwmaster said:FJ smoking pork butts, photo above.Brian Earl Spilner said:$30,000 Millionaire said:
Just remember that when everyone gets bearish, the bear market is over.
Nice butts.
What?
speaking of, I have 3 that I picked up on sale need to get rolling. Low and slow! I buy the dip on pork butts, .99 a lb never tasted so good!
Mrs FJ was at Sams and they were buy one get one free. So she bought 2 -12lb'ers which ended up being $27. It's been a thing with me and my sons we start early Saturday morning all together around 5:30am (we are all early risers anyway) , then by 5-6 that evening generally the brisket or pork butts or something of that nature are ready. All day is bacon wrapped stuffed jalapeños, baby back ribs, chicken wings, hanging out, horse shoes, axe throwing, talking stocks, cold beer and enjoying the process.
Has and continues to be been some great memories.
Bob Knights Paper Hands
Joined:
Dec 22, 2010
Posts:
11,585
How long do you want to ignore this user?
If I could draw up the perfect price action, I'd hope for more red tomorrow but end with a nice green final hour and then green Tuesday and Wednesday before the market decides if it's done with pain or needs more red.
I'm debating going to cash ahead of Apple earnings. Nervous about it for some reason.
You don’t trade for money, you trade for freedom.
Not unreasonable. If you recall, they did not offer guidance last quarter due to uncertainty. Lack of guidance is is guidance :-).
If Fed follows through with a rate hike tomorrow plus AAPL/AMZN earnings this week (among a host of all American stalwart businesses), all the set up is there for a Black Monday/Black Friday kind of week.
If Fed follows through with a rate hike tomorrow plus AAPL/AMZN earnings this week (among a host of all American stalwart businesses), all the set up is there for a Black Monday/Black Friday kind of week.
Charismatic Megafauna
Joined:
May 22, 2017
Posts:
7,939
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AG
The millionbear is back!
Futures so far defending 4247 first support.
You don’t trade for money, you trade for freedom.
Charismatic Megafauna said:
The millionbear is back!
No, it's not that. I am nervous enough to want to preserve capital.
You don’t trade for money, you trade for freedom.
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