Always love the spring/summer months as I get to celebrate two holidays up here lol!! Decided to take most of yesterday off so all I did was watch a bit Sunday night and Monday to add to my shorts bringing my average to 4176. Market is still extended in my view with volatility refusing to go lower and call options way to expensive as bullishness is rampant there and just overall chatter going on. Bonds are also seeing their yield continue to climb so we may be seeing the market or I should say the very few stocks pushing this thing higher finally crack a little somewhere in here but we'll see. Not looking for a lot of downside here but it is apparent things are slowing down with what Home Depot and other retailers are saying in their earnings reports. Think the grind will continue as we move into summer with the Memorial long weekend coming up. Another factor is that over the years the June quarterly expiration cycle has become more and more volatile over the years as we have gone along so at the least there is a good chance we'll see some decent swings in here.
DOWN then rally into MEMORIAL DAY,,,,
#22
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Posted 23 May 2023 - 07:53 AM
Watch 244 on the vertical one META....yesterday could have been final shakeout of shorts after the EU fine news.
If the rising wedge does break, could be brutal and fast....
Edited by K Wave, 23 May 2023 - 07:53 AM.
The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy
#23
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Posted 23 May 2023 - 07:55 AM
Apple still looking very tired up here....tagged the Aug High...now see if it can maintain altitude above 172....absurdly overvalued here...does not mean it cant get worse first though...
The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy
#24
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Posted 23 May 2023 - 07:57 AM
this could be the turn attempt on Apple here pre-market....if bears keep it down after the open, then more likely...
The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy
#25
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Posted 23 May 2023 - 08:14 AM
#26
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Posted 23 May 2023 - 08:24 AM
Another one for longer term, although may have one last low ahead.
Under Armour dirt cheap....trading like a BK scenario, when nothing of the sort remotely likely...
The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy
#27
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Posted 23 May 2023 - 08:36 AM
See which way Trannies break from here....HUGE pivot now at 14K
The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy
#28
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Posted 23 May 2023 - 08:39 AM
AZO getting hammered on earnings....
Below today's low, the epic debt ponzi scheme starts to come undone...
The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy
#29
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Posted 23 May 2023 - 08:40 AM
Meanwhile the canary in that coal mine.....
The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy
#30
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Posted 23 May 2023 - 08:52 AM
See what Naz does right about here....
The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy
