242 replies to this topic

[dTraderB]

Will buy a few NVDA PUTS if it boounces ... down now to 303.

Dougie Kass (@DougKass) tweeted at 5:56 AM on Wed, May 24, 2023:
May 19, 2023 | 06:35 AM EDT DOUG KASS

Short and Sweet
I have shorted more Nvidia ($NVDA) in premarket at $317.49 @dougkass

[K Wave]

Getting the Cherry On Top look over at the Dax

 

[K Wave]

My call for 8K major top on FTSE still looking good with today's break...

 

 

 

[K Wave]

Will buy a few NVDA PUTS if it boounces ... down now to 303.

Dougie Kass (@DougKass) tweeted at 5:56 AM on Wed, May 24, 2023:
May 19, 2023 | 06:35 AM EDT DOUG KASS

Short and Sweet
I have shorted more Nvidia ($NVDA) in premarket at $317.49 @dougkass

Yet another Hammering on ADI.....A LOT of these showing up now....

 

[K Wave]

When only a handful of stocks are holdings thing up, and other indexes can't break above key levels, always start to get a bit worried....

 

See if this nascent drop develops into something much bigger....

[K Wave]

Et Tu....wildly overpriced accessories??

 

[K Wave]

DHI gonna end up another one of those echo bubble bursts soon?

 

Under 100 would suggest so

 

[K Wave]

And the Superbubble of the Homebuilders in for the same?

 

 

Monthly

 

[dTraderB]

Night sessions very active...premarket very dlow.
I do not use PPO because it is one too many indicators. But it is very popular, e.g.

"Slowing Momentum Likely The Short-Term Issue

Any time our major indices or sectors or individual stocks make a run to the upside, you have to begin to watch for potential signs of slowing momentum. For me, it's all about divergences on momentum oscillators. I like to use the PPO as my momentum oscillator, but plenty of traders choose the MACD or the RSI. The PPO and the MACD look exactly the same, but there is one important differentiating feature. The PPO is the difference between two exponential moving averages, expressed in percentage. The MACD also is the difference between two exponential moving average, but it's expressed in dollars. I prefer the PPO, because it enables me to compare momentum between a high-priced stock and a low-priced stock.
Anyhow, the point I'd like to make here is that our most influential sector - technology (XLK) - weakened on Tuesday, after printing a negative divergence on its hourly chart:

Enter Technology (XLK):
Image
We've seen two other such divergences in the recent past, once in March and another in April. Note that while both resulted in short-term weakness, they did nothing to impact the longer-term uptrend. I suspect the current negative divergence will be the same. I'm looking at solid support in the 151-152 area, which suggests that the XLK could have another 2-3% downside before this level is tested. We were getting extended, so the selling and short-term pause would be welcome. 151-152 marked at least 7 key price tops in April and May. After breaking out above that level, this zone should provide nice price support. Time will tell."

[K Wave]

IF Apple breaks hard down from this potentially classic failure setup, then bulls do not want to even think about how ugly it will get for this stock over next couple of years.

 

Covid lows at least if it breaks hard from this area. Again, it is absurdly overvalued up here....