BaylorSpineGuy said:

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Yeah, this has been my argument. When the oil companies lost their 50 day MA's, I became more bearish on that front.

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Biden will take credit for the slight drop but Americans aren't prepared for where the price of gas will be when the US, EU and China come out of a recession. $10/gal is a certainty with his EPA attacking the Permian Basin and his destruction of offshore drilling. When demand ramps up, just watch how much gas skyrockets.

I'm not very familiar with commodity futures but I'd be interested in buying calls/leaps on the price of gas if that's a possibility. I could see that as a huge opportunity to make a crap ton of money.

Something to consider is that NVDA could have put in a bottom. I'm not calling it but today is very interesting to me. It had capitulation at the open and has reversed on heavy volume. It will easily surpass it's 10 day average trading volume today. It might be shorts covering but I don't see a catalyst, or this could be the reversal. I'm keeping a sharp eye on this one.

We going green?

ProgN said:

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BREwmaster said:

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Red Pear DFW Luke said:

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BaylorSpineGuy said:

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I mostly get draft kings ads and sometimes Rebecca Creek whiskey (no Rebecca's Creek is not a vague porn reference).

Sounds like me and tumble weed are cut from the same cloth haha.

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You're thinking of Rebecca's Cheeks.

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you had me at cheeks! never too early for a rally girl

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You thieving ******* without citation. That's cool, we all know who you got them.

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rally booty FTW!

breaking down then recapturing 3800 is probably a pretty bullish sign

sts7049 said:

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breaking down then recapturing 3800 is probably a pretty bullish sign

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Agreed, nice surprise today

Pretty big tech rebound across the board. Especially small-mid caps.

Brian Earl Spilner said:

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We going green?

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We may not close green, but we going green (SPY)

Mancini hasn't sounded this bullish in a while

Closing update #ES_F: Above 3800 was the squeeze trigger & fantastic follow through so far. Next up is 3855-65, which is now tested once already and likely to clear to 3900+. Newsletter out later talking a brand new pattern building over the last week https://t.co/zS20sba61S

— Adam Mancini (@AdamMancini4) July 5, 2022

This is what happens when Wall Street prices in a Fed Funds rate of 4.5% by 1Q2023 and we are only going to get 2.75%.

The Bond market, which has been crippled during the 1st half of 2022 is about to find incredible stability and money is going to absolutely pour into big tech over the next 3 months.

Bonfire1996 said:

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This is what happens when Wall Street prices in a Fed Funds rate of 4.5% by 1Q2023 and we are only going to get 2.75%.

The Bond market, which has been crippled during the 1st half of 2022 is about to find incredible stability and money is going to absolutely pour into big tech over the next 3 months.

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Don't stop, I'm almost there.

BaylorSpineGuy said:

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So bonds and stocks rallying together? Interesting.

I thought their simultaneous fall was unique. I did not see a sustained rally in equities for almost another year. I figured when QT stopped, there would be a more sustained rally.

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Stability =\= Rally

Tech will rally
Blue chips will stagnate

and for good reason... seasonality on average is pointing up, way up time to go long some QQQ or SPY verticals!

Funny

It's amazing how bullish twitter is with $SPY up .19%

— John Trades MBA (@JPATrades) July 5, 2022

Bonfire1996 said:

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Tech will rally

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Bonfire1996 said:

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BaylorSpineGuy said:

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So bonds and stocks rallying together? Interesting.

I thought their simultaneous fall was unique. I did not see a sustained rally in equities for almost another year. I figured when QT stopped, there would be a more sustained rally.

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Stability =\= Rally

Tech will rally
Blue chips will stagnate

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Would your ABBV position switch to GOOGL have anything to do with this?

Would selfishly love a couple inside days here to burn premium and get myself set up into some tech calls. Two days chop and a huge 0 DTE day on Friday to end the week? Giggity

Farmer @ Johnsongrass, TX said:

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Bonfire1996 said:

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BaylorSpineGuy said:

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So bonds and stocks rallying together? Interesting.

I thought their simultaneous fall was unique. I did not see a sustained rally in equities for almost another year. I figured when QT stopped, there would be a more sustained rally.

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Stability =\= Rally

Tech will rally
Blue chips will stagnate

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Would your ABBV position switch to GOOGL have anything to do with this?

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I do love it when tech companies with amazing balance sheets that print money get caught in an overall sector rotation. GOOGL has no business trading at 19x earnings. It is a 30x PE stock all day.

The whole reason tech rotated to bear market was based upon the premise that cheap borrowing was gone for 3-5 years and marginally profitable or unprofitable tech was going to have a harder time making profit projections. That's the reason. That doesn't apply to GOOGL. They have more cash on the balance sheet than total debt. Nonetheless, cheap borrowing will be back in 2023 so it's time for tech to run.

If GOOGL isn't everyone's number 1 long term buy right now, I can't help anyone.

Now, more importantly, I want to see VLO pullback to $95 and I can rotate in. What's your thoughts there?