End of the month
Nobody takes China's published numbers seriously, how much they will be discounted is the question.Farmer @ Johnsongrass, TX said:
If China economic numbers come out positive tomorrow, energy is going to run like a scalded dog. It would confirm the re-opening surge and demand for oil in a world-wide crude short supply scenario (that is contrary to many, but we'll see who is laughing last...hint....10 supertankers from China are headed to the U.S. to pick up oil in March, hmmmm,...)
Farmer @ Johnsongrass, TX said:
If China economic numbers come out positive tomorrow, energy is going to run like a scalded dog. It would confirm the re-opening surge and demand for oil in a world-wide crude short supply scenario (that is contrary to many, but we'll see who is laughing last...hint....10 supertankers from China are headed to the U.S. to pick up oil in March, hmmmm,...)
401K portfolio of those who bought the “Golden Cross” at 4200 😂 pic.twitter.com/koTjstVsMq
— TIC TOC TIC (@TicTocTick) February 22, 2023
ProgN said:
I'm too tired and lazy to go find my post on this thread, but I said there's going to be a lot of stranded retail astronauts last month. FOMO sucked a ton of people in because they 'didn't want to miss out'.
Quote:
Asia-Pacific markets mostly rose as investors digested a slew of key economic data across the region. China's National Bureau of Statistics also reported its official manufacturing purchasing managers' index rose to 52.6 in February, the highest since April 2012.
Hong Kong's Hang Seng index rose 3.04% leading gains in the region and the Hang Seng Tech index climbed 4.6%. In mainland China, the Shenzhen Component fell 0.89% and the Shanghai Composite also shed 0.69%.
In Australia, the S&P/ASX 200
was up 0.11% after GDP for the fourth quarter of 2022 came in at 0.5%, marking its fifth straight quarter expansion.
In Japan, the Nikkei 225
was trading flat and the Topix was down 0.1% as factory activity in February shrank at its fastest pace in two and a half years, a private survey showed.
Private surveys for India's manufacturing activity are scheduled to be released later today.
Charismatic Megafauna said:
Thinking about taking a lotto long if we revisit premarket spy low of 394.75. Thoughts?
$SPX Easy View. We've been watching the right shoulder continue to form, completing a H&S bearish formation. Buying the low channel and selling/shorting the upper channel paid off but weakness is being seen. Have your puts in place. pic.twitter.com/WHD36dCvC3
— Disciplined Trading (@oldarmy1) March 1, 2023
If going with any puts use Model T wave for entries. Did I need to say that?oldarmy1 said:
$NVDA triggered a short signal
Farmer @ Johnsongrass, TX said:CVX buyback program is good, but I doubt it will benefit that company and shareholders like XOM buyback has. XOM leadership was way ahead of CVX leadership and the XOM strategy is lapping CVX. CVX is just starting too late, but better late than never. Barron's analyst boosted XOM to a $140 this morn. I entered a new position in PXD at $199.60 - we'll see..Bonfire1996 said:
Chevron didn't even wait 30 days to increase its buyback amount. Wow. Tells you how cheap they consider their stock.
ETA 9:44am - I thinking PXD is over $205 by close of business Thursday.
RIP $FIGSCarioca Corredor said:Sold FIGS calls today for 30% gain. Thx FJ43!FJ43 said:
Manage the trade and know your risk. As you know I'm in as well. Don't hesitate to cut if you hit your trade plan levels.
I'll try and post as I go on this one. Meetings are way overrated but consuming my time so not able to check or post real time. Just looking for good setups at night and take fewer high probability trades.
But…they don't always work so risk management is key.
FJ43 said:
Just a redneck guess. We could see SPY 392.70-393.30…ish tomorrow.
Trade wisely!
oldarmy1 said:
You see SPY flash above VWAP and now we've cratered back to day lows. Lookout! It might hold and continue the sideways right arm of the macro H&S but odds say breakdown.