Jump to content



Photo

The Elusive BOTTOM - bulls floundering as QT begins


  • Please log in to reply
263 replies to this topic

#241 K Wave

K Wave

    Member

  • Traders-Talk User
  • 26,670 posts

Posted 10 June 2022 - 09:47 AM

TSLA literally at the cliff edge here...

 

Back above 720 needed to to avoid potential disaster next week.

 

Below 680, and things could start to come undone...fast


The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy

 

 


#242 12SPX

12SPX

    Member

  • Traders-Talk User
  • 12,479 posts

Posted 10 June 2022 - 09:53 AM

 

 

I don't think you guys have any idea just how bad June could get if they do not reverse this morning drop today....

 

No way I would touch this thing long until SOX can get a foothold over 3K

 

Crash window moves in AAPL MSFT TSLA etc may be just about to have the final run to the targets....and they are still a lot lower....

 

IF they get hit, THEN maybe we get a big rally, not the incredibly weak stuff we have seen thus far...

That's true would have been way easier to be short but I don't trade on what if's and why I put my trades up here.  Traders today seem to think that a -2.5% down day is a crash, unfortunaltely that is not true.  A crash is a -20% fall from a high, this is just a market being traded especially when this entire fall could be erased with a buy program in 15 minutes!!! 

 

Look at that consumer sentiment report ouch!!!  Average long a nice even 4000, sit on that for the weekend.....

 

I love your faith that the Big 5 are not going to meet the same fate as the rest of tech....

 

Did not work out that way in Y2K, and am guessing similar results this time around....

 

Has nothing to do with the big 5 at all lol!!  Speaking of tech though I've only been trading the S&P so starting a long on the ndx at 11,890.... see how that goes next week too in this "grind grind grind" "trading market" lol....Believe me you'll hear from me when I think the market is going to really crash and speaking of Y2k, back then I never said there would be a crash either but 15 years of sideways for the Nasdaq....



#243 12SPX

12SPX

    Member

  • Traders-Talk User
  • 12,479 posts

Posted 10 June 2022 - 09:57 AM

Everyone is also saying its baked in the cake the Fed will raise rates through September 50,50,50.  Not going to happen, the most they will raise rates to is 3% if your lucky.  Gotta note that consumer report out this morning breaking 1978 records.  People are getting depressed already, believe me things are going to slow faster then ever where they'll be talking about lowering.... All reactionary today.....



#244 redfoliage2

redfoliage2

    Member

  • Traders-Talk User
  • 18,008 posts

Posted 10 June 2022 - 10:02 AM

Yep.  What a distorted reaction to the CPI data.  The data must have been leaked out yesterday with distorted interpretation to create a down momentum.  But the facts - Core CPI MOM unchanged, Core CPI YOY actually dropped from 6.2% to 6.0%.   So the data still pointing to a peaking inflation.  The market just got a distorted reaction, but the Fed will not...........................


Edited by redfoliage2, 10 June 2022 - 10:04 AM.


#245 pdx5

pdx5

    I want return OF my money more than return ON my money

  • Traders-Talk User
  • 9,527 posts

Posted 10 June 2022 - 10:06 AM

My spx 3500 during 2022 FF is looking better and better every month.
But will add 10% to longs today.
80% flat after today.
"Money cannot consistently be made trading every day or every week during the year." ~ Jesse Livermore Trading Rule

#246 pdx5

pdx5

    I want return OF my money more than return ON my money

  • Traders-Talk User
  • 9,527 posts

Posted 10 June 2022 - 10:09 AM

Dip buyers have not capitulated yet.
Which means bottom is not in.
"Money cannot consistently be made trading every day or every week during the year." ~ Jesse Livermore Trading Rule

#247 12SPX

12SPX

    Member

  • Traders-Talk User
  • 12,479 posts

Posted 10 June 2022 - 10:48 AM

3500 is a nice round number and seems that everyone is looking for it.  Going to be a slow depressing process getting there but here's another anaolgy to consider.... Rally into the fall to suck people back into the market, then a quick sell to 3500 to make sure everyone and even their dog is depressed,,,,,,,, or just more grind grind grind with volatility up and down to that level. Either way don't really care I'll just be selling option premium the whole time!!!  Dip buyers are long gone in this market, only ones left are the traders and bears though also.... 



#248 K Wave

K Wave

    Member

  • Traders-Talk User
  • 26,670 posts

Posted 10 June 2022 - 10:53 AM

US 1 yr rate continue to explode upwards...

 

All those 3% cap rate deals on 6 month floaters....

 

Forced liquidations incoming???

 

us01y.png


The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy

 

 


#249 12SPX

12SPX

    Member

  • Traders-Talk User
  • 12,479 posts

Posted 10 June 2022 - 10:53 AM

I seriously can't resist here so adding to my long at 3900 bringing my average down to 3975.  Ok, now done for the weekend....  Still holding ndx long 11,890.



#250 K Wave

K Wave

    Member

  • Traders-Talk User
  • 26,670 posts

Posted 10 June 2022 - 10:58 AM

 

Has nothing to do with the big 5 at all lol!!  Speaking of tech though I've only been trading the S&P so starting a long on the ndx at 11,890.... see how that goes next week too in this "grind grind grind" "trading market" lol....Believe me you'll hear from me when I think the market is going to really crash and speaking of Y2k, back then I never said there would be a crash either but 15 years of sideways for the Nasdaq....

 

 

Yeah just an 85% Flesh Wound...Yeah, That's The Ticket.

 

Big 5 about 50% of NDX currently, so ignore them as as you see fit...

 

ndx.png


The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy