Corrections, historically, occur once every 8-12 months* on average. Bear markets have occurred once every 3.5 years*, on average. Saying "there will be a major correction" isn't some wild prediction. It's common sense. Not buying for the long haul due to fear over a correction seems like a poor decision. *Past results do not predict the future, obviously
I am, but only because the expiration is Jan 2021. The others are all June 19. I closed half of my HOME and BUD calls today. I didn’t see where it finished, but BUD was flirting with 10% towards the end of the day
All those airlines stonks I picked up a couple months ago raked today. Damn near every stonk I have raked today. Go team!
‘‘Twas a great day for those of us that were buying all of the discounts in February, March, and April.
Yep. My biggest loss to date, and then it’s up like 90% since I sold. Fun times. On a positive note, the premarket looks amazing again.
Beacause I am a glutton for punishment I bought more uco after taking a bath on my initial purchase before the reverse split.
The Dow rallied hard yesterday after two consecutive small change signals from the A-D Oscillator. The large cap index finished with a gain of 530 points, closing at 24,995. The Dow reached a high as 25,176 before pulling back. The NASDAQ and SPX gained 16 and 32 points, respectively. Volume on the NYSE was low, coming in at 76 percent of its 10-day moving average. There were 42 new highs and 3 new lows. Yesterday’s rally appeared to be a continuation of wave 3 up within Wave C up of Major Wave B up. Major Wave B up appears to be forming a 3-3-5 zig-zag or flat pattern. Final Wave C up of that pattern should consist of 5 sub-waves before it completes at higher levels. In my WSR, I mentioned that my target for the Dow was above the 25,000 level, possibly as high as the 25,865 if a full Fibonacci retracement took place. Based on the strength I saw yesterday and the fact that the move was likely only wave 3 of the rally, I now believe the Dow will trade closer the 25,865 level once all five waves of Wave C up are complete. I have also revised my targets for the SPX, currently at 2955, to 3300-3350. NDX, currently at 9414, to 9800 - 9850. IWM, Russell 2K, currently at 135 to near150. Because yesterday’s high reached the 25,176 level, the Dow should attempt another rally to test and likely exceed 25,176 before a small wave 4 retracement drops the Dow back close to 25,000 level. So, once wave 3 up completes, IF wave 4 drops the Dow back to 25,000 or below, I will look to add a few more DDMs to the ‘trial’ position I established on Friday. BTW, the Banks soared yesterday with the banking index gaining over 10 percent. This rare event usually leads to a market sell-off the following session. So, given that I expect the wave 3 rally to end after a re-test of yesterday’s intraday high, I will be looking to fade any early morning strength to take advantage of a possible wave 4 retracement suggested by yesterday’s bank rally. One of the stocks I’ll be looking to short is WFC. After yesterday’s session, the 2-period RSI on WFC was 89.22 with a VTI showing a reading of 32.9. In other words, the stock is overbought with NO TREND in place. Could be a nice set-up for a short-term Scalp Trade. Other banks, like CMA and USB, have similar overbought indicators. The banks are near the bottom of the Strong Sector List. The Market Timing Indicators for the Major Indexes remain Positive. The Dean’s List and The Tide also remain Positive. The Sector Ratio strengthened to 24-0 Positive after yesterday’s session. The fact that all 24 sectors of the S&P are positive is another reason I must raise my target for the Dow. The top 5 strongest Sectors were Material (includes gold) Energy, Leisure, Cap Goods, and Healthcare. Gold (GLD) fell 2.32 yesterday to 160.89. In my WSR, I mentioned that gold and the miners could pull back if equities rallied. The pullback appears to be a wave 2 retracement within a large rally wave. The Gold Miners Index, the HUI, dropped 14.58 points yesterday, closing at 270.55. My wave 2 target for the HUI remains near the 240 level. If this pullback happens as I expect, I will view gold and the miners as an attractive buying opportunity. Bonds also fell as stocks rallied. Once again, an overbought RSI and a VTI showing NO TREND on TLT, the Bond ETF, led to the pullback. I would expect this pullback in Bonds to continue as equities rally. The Model continues to hold 600 shares of TBT, and 40 shares of UCO, with a cash balance of $87,037. That’s what I’m doing, h
I’ve really been enjoying these eri and lvs calls but i fear the upside ain’t what it was. Anybody got any brilliant plays?
I'll share with the group: I like DKNG long calls. The implied volatility is extremely low (for DKNG) for the 11/20 $35 Calls
Can’t blame them, the stock sky-rocketed. Take the money when you can. That being said, it’s not great optics.
The sales by the execs were planned in advanced before the phase 1 results came out. They are also planning a new offering for $1.25 Billion of shares. I’m sure the execs will get a piece of this as well.
I'm just being a dick pacey just ignore me. Everyone has their own investing strategy that they understand and works for them.
Sold off all of my KSS, EXEL, and PD shares. Bought each in February & March. Sold all of them for a 25%+ profit. I don’t think Kohl’s is sustainable long term...took the money while I was ahead.
Huge losses last quarter and suspended dividends. I don’t think retail stores like that will recover for what they used to be and if they are going to suspend their dividends too, then bye Felicia.
Shoutout to Jesse Palmer. I did a little beginner level research on this one and bought a call at 11:05am this morning. Currently up 65%
Anyone else getting Peleton stock? ESPN is basically running a full advertisement for it with the athlete charity ride that’ll be broadcast on ESPN, YouTube and Facebook on Saturday. It seems like it should rise that following week.
I wouldn't bet against it seeing a rise but it's spiked pretty dramatically during the pandemic from people not being able to go to the gym, plus people that were fringe buyers getting a sudden influx of money from the stimulus, that they may not have needed for other things.
I know that seems long term but that's only six weeks away. Not being able to go outside has slowed down time
Was their revenue increase tied to the bike or individual subs for the workouts? The people with bikes and the subs ain’t cancelling inside of a year. That’d be admitting a large mistake in your living room.