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Brian Earl Spilner
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Farmer @ Johnsongrass, TX said:

This looks like a buy the dip day to me.

I took my advice and bought more XOM at $103.50.

Waiting on a move up to sell 6/10 $105 (or higher) Calls against this new position.

Running up against the clock..
I just bought a bunch more TQQQ + UPRO near the bottom of this dip.

Hoping for a bit of a bounce tomorrow with CPI.
Brewmaster
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irish pete ag06 said:

They are stoploss raiding into close because we are going to have a small beat on CPI in the morning aren't we?
yeah doesn't even matter what the CPI data is at this point with this sell off before hand. We will at least get a dead cat bounce I think.
Farmer @ Johnsongrass, TX
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Somebody is getting serious about selling today..

If it rebounds toward the close I'll be LMAO.
Brewmaster
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Brian Earl Spilner said:

Farmer @ Johnsongrass, TX said:

This looks like a buy the dip day to me.

I took my advice and bought more XOM at $103.50.

Waiting on a move up to sell 6/10 $105 (or higher) Calls against this new position.

Running up against the clock..
I just bought a bunch more TQQQ + UPRO near the bottom of this dip.

Hoping for a bit of a bounce tomorrow with CPI.
You think this has bottomed?
GreasenUSA
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BREwmaster said:

Brian Earl Spilner said:

Farmer @ Johnsongrass, TX said:

This looks like a buy the dip day to me.

I took my advice and bought more XOM at $103.50.

Waiting on a move up to sell 6/10 $105 (or higher) Calls against this new position.

Running up against the clock..
I just bought a bunch more TQQQ + UPRO near the bottom of this dip.

Hoping for a bit of a bounce tomorrow with CPI.
You think this has bottomed?
We just broke below the range we've been in the last 2 weeks. Better pray that tomorrow's numbers send us upwards, or else, down we go.
tailgatetimer10
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wanderer said:






In Big Mike I trust.
The Pilot
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the 5 min spx chart is one steep ass run down
cptthunder
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We gonna touch 399 tomorrow to finish up the Model T move on SPY?
Farmer @ Johnsongrass, TX
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The spanking was loud coming from the woodshed.
Brian Earl Spilner
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BREwmaster said:

Brian Earl Spilner said:

Farmer @ Johnsongrass, TX said:

This looks like a buy the dip day to me.

I took my advice and bought more XOM at $103.50.

Waiting on a move up to sell 6/10 $105 (or higher) Calls against this new position.

Running up against the clock..
I just bought a bunch more TQQQ + UPRO near the bottom of this dip.

Hoping for a bit of a bounce tomorrow with CPI.
You think this has bottomed?
Not long term. Will sell the bounce.
Brewmaster
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cptthunder said:

We gonna touch 399 tomorrow to finish up the Model T move on SPY?
maybe a flash below it even. We do usually get continution the next morning (on these big sells into the close). very interesting that that's model T. 3980 I think is a Big level, below there, markets are screwed.
Jet Black
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Who knows what the cpi data will show and who knows how the market will react.
irish pete ag06
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Brian Earl Spilner said:

Farmer @ Johnsongrass, TX said:

This looks like a buy the dip day to me.

I took my advice and bought more XOM at $103.50.

Waiting on a move up to sell 6/10 $105 (or higher) Calls against this new position.

Running up against the clock..
I just bought a bunch more TQQQ + UPRO near the bottom of this dip.

Hoping for a bit of a bounce tomorrow with CPI.


I slapped the bid on a $35 TQQQ lotto for .05
AgEng06
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Jet Black said:

Who knows what the cpi date will show and who knows how the market will react.

Nancy knows
jamey
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AgEng06 said:

Jet Black said:

Who knows what the cpi date will show and who knows how the market will react.

Nancy knows


Looks like the market has a hint
$30,000 Millionaire
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Wow. Glad I really only have energy stonks in my trading account.
You don’t trade for money, you trade for freedom.
Philip J Fry
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I think we head to the low 3800s on sp500.
Bird Poo
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Question on going long:

It's widely accepted at this point that GDP will probably show another negative growth quarter, indicating we are in a recession. I'm trying to figure out if that week (when a recession has been confirmed) is a good time to go long in the market, or will this one be "deep"?
Swollen Thumb
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What's up with RGS? Up ~60% after hours. Only news I could find related to them partnering with a software firm to rollout software at franchises. I've been bag holding a very small position on this for a while. Would still be way down on it but might use this pop to exit.
slacker00
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  • ZENOTI WILL PURCHASE REGIS' OPENSALON PRO SALON MANAGEMENT SYSTEM AS PART OF TRANSACTION
  • REGIS CORP - REGIS WILL RECEIVE UP TO $39 MILLION IN CASH CONSIDERATION AS PART OF TRANSACTION
Triple_Bagger
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slacker00 said:

  • ZENOTI WILL PURCHASE REGIS' OPENSALON PRO SALON MANAGEMENT SYSTEM AS PART OF TRANSACTION
  • REGIS CORP - REGIS WILL RECEIVE UP TO $39 MILLION IN CASH CONSIDERATION AS PART OF TRANSACTION

That's almost double their current market cap, which explains why the stock is up 75% AH
Swollen Thumb
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Thanks...I didn't pay close enough attention to the press release.
Chipotlemonger
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Bird Poo said:

Question on going long:

It's widely accepted at this point that GDP will probably show another negative growth quarter, indicating we are in a recession. I'm trying to figure out if that week (when a recession has been confirmed) is a good time to go long in the market, or will this one be "deep"?


In my opinion, this is tough to really gauge. The market is forward-priced and it may already be accounted for…, to what extent though is a question.

Someone smarter than me may have a better answer.
BaylorSpineGuy
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Keep watch for BRK. Chart looks like it's about to retest a significant support line.
Triple_Bagger
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Chipotlemonger said:

Bird Poo said:

Question on going long:

It's widely accepted at this point that GDP will probably show another negative growth quarter, indicating we are in a recession. I'm trying to figure out if that week (when a recession has been confirmed) is a good time to go long in the market, or will this one be "deep"?


In my opinion, this is tough to really gauge. The market is forward-priced and it may already be accounted for…, to what extent though is a question.

Someone smarter than me may have a better answer.
The time to go long is right before the Fed reverses stance on interest rate hikes. If you figure out when that will be, let us know.
Bird Poo
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Triple_Bagger said:

Chipotlemonger said:

Bird Poo said:

Question on going long:

It's widely accepted at this point that GDP will probably show another negative growth quarter, indicating we are in a recession. I'm trying to figure out if that week (when a recession has been confirmed) is a good time to go long in the market, or will this one be "deep"?


In my opinion, this is tough to really gauge. The market is forward-priced and it may already be accounted for…, to what extent though is a question.

Someone smarter than me may have a better answer.
The time to go long is right before the Fed reverses stance on interest rate hikes. If you figure out when that will be, let us know.


Haven't they already backed off of the rate hikes they stated were necessary? If I recall they were going to let the economy naturally slow down from inflation instead of using market killing interest rate hikes?

I'm out of my league here but that's my perception.
Philip J Fry
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Thought the market dumped at the end because they indicated higher rates to come.
FJ43
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$30,000 Millionaire said:

I'm up 40% in that account. Not bad, right?

I've only traded stonks in it.



Bro add some zeros to that account......
Wealth gained hastily will dwindle. but whoever gathers little by little will increase it.
Proverbs 13:11

$30,000 Millionaire
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The market sold off because they markets inflicts maximum pain to the most people. Max pain was down.

Don't be surprised at a fake breakdown that soars.
You don’t trade for money, you trade for freedom.
Philip J Fry
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I should note there we could be forming the second shoulder over the reverse head and shoulders pattern with this dip..
Brian Earl Spilner
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We rocket tomorrow.
Triple_Bagger
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Bird Poo said:

Triple_Bagger said:

Chipotlemonger said:

Bird Poo said:

Question on going long:

It's widely accepted at this point that GDP will probably show another negative growth quarter, indicating we are in a recession. I'm trying to figure out if that week (when a recession has been confirmed) is a good time to go long in the market, or will this one be "deep"?


In my opinion, this is tough to really gauge. The market is forward-priced and it may already be accounted for…, to what extent though is a question.

Someone smarter than me may have a better answer.
The time to go long is right before the Fed reverses stance on interest rate hikes. If you figure out when that will be, let us know.


Haven't they already backed off of the rate hikes they stated were necessary? If I recall they were going to let the economy naturally slow down from inflation instead of using market killing interest rate hikes?

I'm out of my league here but that's my perception.
I haven't seen anything about them backing off on the aggressive rate hike plan. Many think they won't follow through, but the latest Fed Dot Plot shows that they plan to hike rates another 100bps this year. 50bps is expected next week, so just one more 50bps or 2 25bps hikes this year to get there.

If jobs stay strong and inflation continues to rise, expect them to stick to this plan.

https://www.bloomberg.com/news/articles/2022-03-16/the-fed-s-new-dot-plot-after-its-march-policy-meeting-chart
Bird Poo
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Thanks!
Charismatic Megafauna
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Sounds to me like everybody is expecting a bounce today. I just wish ttd would flash down so these puts I'm holding can pay
austinAG90
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Market Has an Ugly Tone Waiting for CPI... Will Risk Off Continue

We said at the beginning of the week that we expected to see fear and risk off trading as we enter Thursday and Friday... Today we have CPI. While we think inflation has peaked, today's numbers will be awful... YoY CPI expectation is back to 8.3%, which it was last month... and while the expectation of ex Food and Energy is supposed to go down, the big inflation fears will remain with us..While the ECB did not raise rates yesterday they could not have been more hawkish in their outlook... July will be a 25 raise followed by 50 in September... The markets are building 150 of rate hikes this year and 250 by the end of 2023... The end of the stupid negative rates will finally be over.. A complete failure in its experiment...

Yesterday we saw a huge risk off in equities in the last hour of trading, which gave bonds a marginal bid... We expect today's CPI to give the Fed ammunition to be very hawkish in their outlook next week... While we still think September will be a reduction in the 50 mantra for rate hikes, it won't stop the 50 and even 75 talk from expanding... We have three employment numbers before then and three CPI numbers...and as we pointed out that the M2 money supply is started to reverse... First time in many years we have seen that... Rates hikes take time to make it through the economy... And slowdowns are happening... But it does not mean we will not have another ugly run through next Thursday...strap in, it will be bumpy... We are making this short and sweet....
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