Looks like Oxy hit that $50 line just a few min ago...what are your current thoughts?
Stock Markets
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Last: 3 hrs ago by ProgN
Glad I still have 50 shares of SMCI in my brokerage, but my poor Roth account is missing it since I fully exited my SMCI position in there. And pretty much at the bottom.
Sigh.
Sigh.
Bought IWM $205 Sep 13 (Friday) puts looking for $200-$203. Risky play.
"H-A: In return for the flattery, can you reduce the size of your signature? It's the only part of your posts that don't add value. In its' place, just put "I'm an investing savant, and make no apologies for it", as oldarmy1 would do."
- I Bleed Maroon (distracted easily by signatures)
- I Bleed Maroon (distracted easily by signatures)
I exited around $450. Are we thinking we have a bottom in place here?Brian Earl Spilner said:
Glad I still have 50 shares of SMCI in my brokerage, but my poor Roth account is missing it since I fully exited my SMCI position in there. And pretty much at the bottom.
Sigh.
Doubtful anyone really knows. But sure as hell looks like my exit at $388 is pretty much the worst place I could have done it.
nah, this is just a relief bounce on overall markets IMO. The whole month of September is usually caca.Brian Earl Spilner said:
Doubtful anyone really knows. But sure as hell looks like my exit at $388 is pretty much the worst place I could have done it.
90 points down. Almost 100 back up. Crazy crazy price action today
bmoochie said:
90 points down. Almost 100 back up. Crazy crazy price action today
Clown market.
Already started taking profits on my other shares. First target hit at $440.Brewmaster said:nah, this is just a relief bounce on overall markets IMO. The whole month of September is usually caca.Brian Earl Spilner said:
Doubtful anyone really knows. But sure as hell looks like my exit at $388 is pretty much the worst place I could have done it.
Brian Earl Spilner said:
Doubtful anyone really knows.
/EndThread
curious what HA or Prog think. Really looks like bigs unloading positions (to my less trained eyes).bmoochie said:
90 points down. Almost 100 back up. Crazy crazy price action today
c'mon TSLT, daddy needs 14.40 (pm highs). that was my daily scalp
POWL having an interesting day. Low volume but big gain.
Maybe a big move in store this week?
Maybe a big move in store this week?
Chop chop chop. Traders market.Brewmaster said:curious what HA or Prog think. Really looks like bigs unloading positions (to my less trained eyes).bmoochie said:
90 points down. Almost 100 back up. Crazy crazy price action today
c'mon TSLT, daddy needs 14.40 (pm highs). that was my daily scalp
I have no preference, though I believe IWM sells off one more time. Ideally it would happen by tomorrow or Friday. If SPX makes another low, we will officially have bear warning sirens going off with the retrace that follows as your "GTFO" chance. But if it holds today's bottoms, anything can be on the table including a blowoff top starting next week with rate cut announcement.
"H-A: In return for the flattery, can you reduce the size of your signature? It's the only part of your posts that don't add value. In its' place, just put "I'm an investing savant, and make no apologies for it", as oldarmy1 would do."
- I Bleed Maroon (distracted easily by signatures)
- I Bleed Maroon (distracted easily by signatures)
SPY outside bar day on this short upward trend on the daily. I am not sure it means anything other than just some wild price action happening. In my opinion if it moves p further today and takes out 554.50, I think that means down going forward and would indeed back up the claim that bigs are trying to get out. If not, then chop chop as HA says. Just my humble opinion.
It could be an outside bar - green hammer day. That's confusing.
It could be an outside bar - green hammer day. That's confusing.
Sorry I missed this.CheladaAg said:
Looks like Oxy hit that $50 line just a few min ago...what are your current thoughts?
I was stopped out on a couple more O&G plays this morning. I'm sidelines on energy and am going to make it prove itself before I jump back in.
"H-A: In return for the flattery, can you reduce the size of your signature? It's the only part of your posts that don't add value. In its' place, just put "I'm an investing savant, and make no apologies for it", as oldarmy1 would do."
- I Bleed Maroon (distracted easily by signatures)
- I Bleed Maroon (distracted easily by signatures)
It held $540 and had a big push up today which definitely opens the potential for blow off top with rate cut next week.
Berkshire sells even more BOA (Bank of America), edging toward getting under 10 percent.
Are we anticipating that with a 50 basis point cut? And maybe sell the news on a 25 basis cut?El_duderino said:
It held $540 and had a big push up today which definitely opens the potential for blow off top with rate cut next week.
pricing in 14% chance of 50 cut, so not reallyfauxstradamus said:Are we anticipating that with a 50 basis point cut? And maybe sell the news on a 25 basis cut?El_duderino said:
It held $540 and had a big push up today which definitely opens the potential for blow off top with rate cut next week.
25. A 50pt September cut would spook the market as it's very low likelihood.
Anyone watching SentinalOne? Just hit the bottom of their support line. Upward megaphone and engulfing candle yesterday
SLV is up premarket
Sold half the Sep 20 $25.5's and $26's I bought on Friday. Firmly in the green. Will not let them turn red as the goal was to generate profit that would offset potential higher strike Sep losses.
Silver has a bullish setup, but it's not the cleanest and anything can happen. If you are feeling stressed and have September positions, it might not be a bad day to take some profits, minimize losses, or roll forward.
Silver has a bullish setup, but it's not the cleanest and anything can happen. If you are feeling stressed and have September positions, it might not be a bad day to take some profits, minimize losses, or roll forward.
"H-A: In return for the flattery, can you reduce the size of your signature? It's the only part of your posts that don't add value. In its' place, just put "I'm an investing savant, and make no apologies for it", as oldarmy1 would do."
- I Bleed Maroon (distracted easily by signatures)
- I Bleed Maroon (distracted easily by signatures)
If you got into AMD earlier in the week, considering taking some or all profits here.
"H-A: In return for the flattery, can you reduce the size of your signature? It's the only part of your posts that don't add value. In its' place, just put "I'm an investing savant, and make no apologies for it", as oldarmy1 would do."
- I Bleed Maroon (distracted easily by signatures)
- I Bleed Maroon (distracted easily by signatures)
Careful here. IWM is near resistance and could see one more low. And if we get that low, it's a pretty big sign a bear market is around the corner. SPX looks stronger and if it can hold support and continue blasting up, blowoff top will gain in probability. In other words, we're kind of in no man's land and as we move into next week, I expect mostly rangebound heading into FED. Remember, Sep 18th was the first rate cut in 2007. Very similar economic conditions except much weaker now than then with a FED that doesn't have the same ammo they did then. Go familiarize yourself with 2007 around the first rate cut and into 2008. Look at small caps, large caps, metals, and oil. History can tend to rhyme. There's way more risk than opportunity, even if a blowoff top is coming. Don't get yourself trapped.
"H-A: In return for the flattery, can you reduce the size of your signature? It's the only part of your posts that don't add value. In its' place, just put "I'm an investing savant, and make no apologies for it", as oldarmy1 would do."
- I Bleed Maroon (distracted easily by signatures)
- I Bleed Maroon (distracted easily by signatures)
Of course it blows past the stop I had set on the selloff. Should've held it but I was weak!
Up around 19% and 12% respectively on my SOXL and TQQQ which I bought on Monday.
CEO of PLTR just said "bat **** crazy" during live interview on CNBC.
https://www.cnbc.com/2024/09/12/interest-payments-on-the-national-debt-top-1-trillion-as-deficit-swells.html
We're ****edQuote:
The U.S. government for the first time has spent more than $1 trillion this year on interest payments for its $35.3 trillion national debt, the Treasury Department reported Thursday.
With the Federal Reserve holding benchmark rates at their highest in 23 years, the government has laid out $1.049 trillion on debt service, up 30% from the same period a year ago and part of a projected $1.158 trillion in payments for the full year.
Subtracting the interest the government earns on its investments, net interest payments have totaled $843 billion, higher than any other category except Social Security and Medicare.
The jump in debt service costs came as the U.S. budget deficit surged in August, edging closer to $2 trillion for the full year.
With one month left in the federal government's fiscal year, the August shortfall popped by $380 billion, a dramatic reversal from the $89 billion surplus for the same month a year prior that was due largely to accounting maneuvers involving student debt forgiveness.
That took the 2024 deficit to just shy of $1.9 trillion, or a 24% increase from the same point a year ago.
I was just about to post a screenshot of the headline.
Crazy times!
Crazy times!
We have some special "representatives" running the country
And we are somehow the *******s for not wanting to pay taxes up to our eyeballs to these fine stewards of our money.
Gotta make hay while the sun is shining! We have to amass as much wealth as we can before the music stops. I'm younger and fear capitalism is being phased out. I expect to be severly handicapped on my path towards retirement while putting in more work into whatever new system is installed by the government.
Agree, although I hope and pray government is massively pared down and soon (the time is pretty much now or bust). Many branches could go buh bye and save taxpayers real money (some of these are already handled well at the state level). apologies if I'm dipping into politics, that's as far as I'll elaborateChef Elko said:
Gotta make hay while the sun is shining! We have to amass as much wealth as we can before the music stops. I'm younger and fear capitalism is being phased out. I expect to be severly handicapped on my path towards retirement while putting in more work into whatever new system is installed by the government.
if Trump wins, PLTR to the moonProgN said:
CEO of PLTR just said "bat **** crazy" during live interview on CNBC.
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