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BULLS vs POWELL & PAYROLLS


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#11 dTraderB

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Posted 06 March 2023 - 07:57 AM


However, recent momentum for market does appear to have nudged one of Wall Streets most bearish strategists to ease up a little on the gloom. Our call of the day returns to Mike Wilson, the Morgan Stanley strategist who two weeks ago warned that investors had pushed stocks into a death zone.

In a new note, the strategist points out how the S&P 500 (SPX) survived a crucial test of support last week by staying above the widely-watched 200-day moving average. Stocks could see some further gains in the short term if the dollar and interest rates continue to pull back, he said.


Wilson has targeted 4,150 as the next resistance area for the S&P 500, though he still doesnt seem to be ready to give up on that death-zone prediction.

While this is an unequivocal positive in the short term, we believe it does not refute the very poor risk reward currently offered by many stocks given valuations and earnings forecasts that remain way too high, in our view, he said.

Wilson, who expects the S&P 500 will finish the year at 3,900 the more bearish end of Wall Streets wide-ranging forecasts warned in late February that investors had been following stock prices to dizzying heights once again, driven by liquidity and greed. He said pricey valuations meant investors werent being compensated for risk.

A bear capitulates!
Helene Meisler (@hmeisler) tweeted at 8:51 AM on Mon, Mar 06, 2023:
Morgan Stanley strategist Michael Wilson pivots on the short-term outlook for US stocks, saying the rally may have room to run
https://t.co/7Vz9fGQxdFvia @markets



#12 redfoliage2

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Posted 06 March 2023 - 09:43 AM

SPX has got back into the up trend, so dips to be bought .....................



#13 redfoliage2

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Posted 06 March 2023 - 10:14 AM

We should see SPX 4100 soon .................



#14 dTraderB

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Posted 06 March 2023 - 02:32 PM

ES 4055 HEDGE LONG
WILL HOLD SHORTS, ADD MORE above ES 4095

Closed LONGS on Friday & started new SPY & QQQ PUT positions
6 each, will add above Friday's HIGH

POWELL & PAYROLLS will pose strong for the BULLS.

My FF is a flat to DOWN week



#15 skott

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Posted 06 March 2023 - 08:09 PM

ES 4055 HEDGE LONG
WILL HOLD SHORTS, ADD MORE above ES 4095
 

Closed LONGS on Friday & started new SPY & QQQ PUT positions
6 each, will add above Friday's HIGH

POWELL & PAYROLLS will pose strong for the BULLS.

My FF is a flat to DOWN week

 

 

 

I think you are playing this correctly



#16 dTraderB

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Posted 07 March 2023 - 07:19 AM

Nick Timiraos (@NickTimiraos) tweeted at 8:00 AM on Tue, Mar 07, 2023:

Fed Chair Jerome Powell is likely to caution on Capitol Hill that stronger economic activity could lead U.S. central bank officials to raise interest rates more than they have projected to combat high inflation

His testimony is out at 10 am: https://t.co/uGVS4otLYd

#17 12SPX

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Posted 07 March 2023 - 08:58 AM

Checking in from Indian Wells!!  Was great seeing my fave gal Sakkari practise yesterday with Swiatek beside Sabalenka and Monfil!  Always love the first few days of the tournament watching the qualifiers try to get their spot!  Btw also found Vegas an interesting place on the way down lol!!  Of course as I drive I still trade and far prefer the short side up here with interest rates holding up so I have a short build going around 4130.  Will add to it as we go up if we do or profit stop it as you know.  I take the opposite side of other people here and like to say its easy being bullish anyone can do it bahaha!!!  Whats hard is being a trader and flipping back and forth.  Haven't been following option prices as closely but the ones I'm seeing have calls much pricier than they should be!!  Gonna be an interesting week for sure with all the talk and news out.  Yesterday the market started to struggle so we'll see how it turns out as I do expect volatility to kick up pretty good!!!   



#18 dTraderB

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Posted 07 March 2023 - 10:05 AM

NQ 12233 HEDGE LONG

#19 12SPX

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Posted 07 March 2023 - 10:07 AM

profit stop 4029...



#20 12SPX

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Posted 07 March 2023 - 10:09 AM

Gosh what a surprise, not....lol. Profit stop 4025....