106 replies to this topic

[linrom1]

The last time they sold off going to 4th of July, Krakatoa blew up.

[redfoliage2]

The bear market rally is likely finished .........................

I expect the bear market to resume with lower lows in July

[12SPX]

Yay come on bears, say crash crash crash.....

[pdx5]

Yay come on bears, say crash crash crash.....

I remember you saying FED can not raise interest rates more than 1/4 point couple of times (paraphrasing)

because any more than that will cause recession.

Well, FED has already raised (1/2+3/4) points and in July is expected to raise another 3/4 point.

Edited by pdx5, 30 June 2022 - 06:12 PM.

[12SPX]

Funny, its Canada day up here, hopefully a day closer to getting rid of the stupidest leader of all time but nonetheless I normally take most of this day off also but I ended up waking early anyhow.  Did let the pajama traders off overnight as everyone knows I love round numbers so I was buying at 3750 bringing my new average long down to 3770 and looking at the ndx I see a nice long starting at 11450 for a longer hold.  Hopefully this one will be lol!  Market remains in grind mode that I've talked about for awhile now but still remains in that poppable mode in my view. Not sure what's going to get it going it'll likely turn out to be for nothing although maybe someone will notice that the 10-year is now below 3% and reward stocks for it lol!!  In the longer run this expiration cycle should remain on the upside also but we'll just take it day by day as option prices aren't giving any indication of movement as premiums continue to evaporate quickly here!!

 

About interest rates, I never said how much they would raise I said that the next time they raise, upcoming has a good chance of being the last.  Commodity prices are already on their way down hard but the main reason is because debt levels and mortgages are so high if they raise much more it will create a depression not a recession.  Maybe in the end that is the plan for the biden administration but I have a feeling the Fed has more sense and will slow down in their inflation rhetoric!! 

 

And look at that, with all this typing, profit stop 3771 for the cash open, buy lower....

[12SPX]

Going crazy here for the open, profit stop 3780, buy below...

[K Wave]

And after failing the big test at 2600 (called nearly to the minute by yours truly), SOX right back to fresh Bear Market lows...

 

IF and When SOX can clear 2600, then it might be time to think about a big rally...

Edited by K Wave, 01 July 2022 - 08:35 AM.

[12SPX]

Out for a nice 10 point profit and starting my long build at 3775!!! 

[K Wave]

Can TSLA hold the off hours battle ground at 675??

 

Bulls had better hope that does not give way...

[12SPX]

Well isn't that fun, right back up what a surprise lol!!  Profit stop 3780 once again, buy below....