85 replies to this topic

[dTraderB]

The FED this week will most likely banish any TAPER talk, for now, next few weeks. BULL marches on with minor pullbacks but it is stretched.

HERE IS another opinion:
Shut up and take the free money
By Jani Ziedins | End of Day Analysis

Free After-Hours Analysis:

The S&P 500 brushed off early weakness Monday and closed in the green, making this the fourth positive day out of the last five trading sessions. While it takes a magnifying glass to see these 0.1% and 0.2% gains, the most important thing is we keep making higher highs.

As the well-worn market truism tells us, stocks take the stairs up and the elevator down. As trivial as these individual gains seem, a pile of them turns into some really nice profits and thats exactly why this market keeps setting record high after record high.

There are plenty of reasons to dislike stocks at these prices, but most investors have heard all of these recycled criticisms and they still dont care. When the market doesnt care about the headlines, then neither should we.

Without a doubt, this bull market will die like all of the others that came before it. But it will hit 4,300 and probably even 4,400 before that happens.

Stick with what has been working and that is holding for higher prices. Trading is rarely this easy. But when it is, the last thing we should fight it. Shut up and take the free money.

While the index added a modest 0.18%, the FAANG stocks popped 1% and 2%!!! This outperformance is absolutely noteworthy. For months these supposed best-of-the-best stocks have been lagging behind and their underperformance has been holding the entire market back.

While one day doesnt make a new trend, weve been seeing pockets of strength bubbling to the surface. GOOG has been trading well for a while. FB is back at the highs. Even AAPL and NFLX have been getting their mojo back. And the laggard of the group, NFLX, has been carving out what looks like it could be a base if the stock holds above $500 support.

The indexes struggled this spring without the FAANG leadership. But if the tide is changing, these stocks could start pushing the entire market higher. If the indexes and the FAANG stocks start rowing together again, it will be a very good summer for everyone that didnt sell in May.


https://cracked.mark...the-free-money/

[12SPX]

Still holding my long from 4228 profit stop 4245 but I'm thinking of flipping to building a short if we get over 4250 as I'm sure the Fed is going to say something to spook the market at least for a bit even though this is an expiration week.  Either way all of my sold June calls are going to expire worthless I'm sure! 

[12SPX]

And there we go out for a 17 point profit, hopefully move back up a bit to start building short...

[12SPX]

Meanwhile guess I'll try a long here at 4237...

[12SPX]

Out for 1 point profit stop at 4238 try a little lower now at 4236, rinse and repeat until we can get back up there to sell....

[12SPX]

Average long 4235...gonna be a rinse and repeat would love to sell higher we'll see, off to early tennis! 

Edited by 12SPX, 15 June 2021 - 10:13 AM.

[pdx5]

Will need MORE free money. May retail sales not looking good.

[12SPX]

Went back and forth a couple times for a few points and held my long at 4235 overnight with not much success, took 2 points profit with the spike on housing data, would far rather have shorts on here but want to sell around that 4250 level.  We'll see how the day goes.  I'm sure there are going to be some spikes with the Fed decision made at 2:00 and then again with Powell's question period! 

[12SPX]

Well I folded a bit, started a short at 4240, profit stop 4239 for now but will sell higher...

[12SPX]

Surprise surprise, out for 1 point profit!!