7 replies to this topic

[Rogerdodger]

Kitco:

'Stock market reckoning ahead?

An update of the S&P futures daily chart: I think a correction is in order, and continued over-exposure or leverage to the long side (for traders) may be just plain irresponsible here. I think the market is becoming complacent in the face of Jerome Powell, who has clearly signaled his willingness to hike harder. To me, this stock market now looks primed for an exaggerated move to the downside on any hint of change in future hike odds; In sum, I think the risk in indices is asymmetrical and to the downside.

With momentum heading into oversold territory on the daily timeframe but the weekly uptrend well intact, I continue to give the bulls the benefit of the doubt for now.

 

Chart

Edited by Rogerdodger, 02 August 2023 - 09:25 AM.

[Rogerdodger]

The last time the VIX was this high was the July SPX bottom. Will it finish today this low?

I ponder if the famous "Last Hurrah" before the expiration of a T might reappear by week's end...

 

Getting some popcorn ready to watch the show.

[blustar]

Kitco:

'Stock market reckoning ahead?

An update of the S&P futures daily chart: I think a correction is in order, and continued over-exposure or leverage to the long side (for traders) may be just plain irresponsible here. I think the market is becoming complacent in the face of Jerome Powell, who has clearly signaled his willingness to hike harder. To me, this stock market now looks primed for an exaggerated move to the downside on any hint of change in future hike odds; In sum, I think the risk in indices is asymmetrical and to the downside.

With momentum heading into oversold territory on the daily timeframe but the weekly uptrend well intact, I continue to give the bulls the benefit of the doubt for now.

 

Chart

We agree

[da_cheif]

The last time the VIX was this high was the July SPX bottom. Will it finish today this low?

I ponder if the famous "Last Hurrah" before the expiration of a T might reappear by week's end...

 

Getting some popcorn ready to watch the show.

"Getting some popcorn ready to watch the show."    so   if u dont have any money in the market thats all u can do?.....is eat popcorn?

[Rogerdodger]

I missed your warning about this decline. Why don't you throw us idiots a bone sometimes?

We low-lifes could have made some money with you during this selling spree..

[RadioHead]

NVDA is 255 PE. It is  a bargain. Buy it before 300 PE.

[RadioHead]

We just had a pull back. it was about 2%. Anything more than that is absurd. We are far far away from a real correction. When interest rates go up, stocks  advance a little. When interest rates decline, stocks are up a lot. I have seen this millions of times. Do not be a bear right now. And do not look for cheap stocks. The higher the PE the most money you are going to make. I prefer stocks with PE of over 100 or tech that loose at least a billion a quarter. It is not the first time and not the last. Efficient market theory at work. 

[da_cheif]

7

I missed your warning about this decline. Why don't you throw us idiots a bone sometimes?

We low-lifes could have made some money with you during this selling spree..

u  been ignoring my calls since 09.....so what else is new.......so dont bs us as u havent posted a trade in years.if ever....a broke curmudgeon..

calling urself  an idiot low life saves me trouble

Edited by da_cheif, 07 August 2023 - 12:20 PM.