Stock Market Thread

[SteelerDayTrader]

I suspect this move will find support in the 4000-3800 range

Then move sideways for a bit before breaking above our recent high of 4327.50 …….and then back down to test the move up

[SteelerDayTrader]

1. The market will reach an ATH before the end of this year.

2. 1 contract of /MES has a maintenance margin of @ $1300 at many futures brokers. Put $7500 into 1 /MES contract right now and you’ll be at $12000 + when the S&P pushes back to 4800. For you to bust out and be left with just your $1300 maintenance margin the market would have to drop to below 2700 from here (3916). Not happening imo.

Basically I called a 400 pt + move back in June when the entire world was screaming sell

You’re welcome

[955876]

STD heading down to the basement to do battle with his charts…

[SteelerDayTrader]

[SteelerDayTrader]

If today stays green after this sell off I’d look to get long at 4182 and be aware of the 20 SMA as a potential resistance/reversal level

[955876]

Ended up being a pretty good day.

[SteelerDayTrader]

Ended up being a pretty good day.

Yep we might see a new recent high off this drop quickly

I see a lot of retail cash getting short squeezed. No where to go but up when that happens

[SteelPro]

Ended up being a pretty good day.

Yep we might see a new recent high off this drop quickly

I see a lot of retail cash getting short squeezed. No where to go but up when that happens

Someone started to cum way too fast.

[955876]

Ya, Powell just threw a wet blanket on STD’s new ATH by year end.

Here is a better prediction, markets won’t hit a new ATH until not only the Fed is done raising rates but also starts to take rates lower.

Somewhere in between those two opinions is likely where things land.

But ATH by year end?? Still not seeing it.

[SteelPro]

Ya, Powell just threw a wet blanket on STD’s new ATH by year end.

Here is a better prediction, markets won’t hit a new ATH until not only the Fed is done raising rates but also starts to take rates lower.

Somewhere in between those two opinions is likely where things land.

But ATH by year end?? Still not seeing it.

I agree. I’m expecting markets to be range bound and trade mostly sideways for the foreseeable future. I think this bear has some legs.

[SteelerDayTrader]

I suspect this move will find support in the 4000-3800 range

Then move sideways for a bit before breaking above our recent high of 4327.50 …….and then back down to test the move up

Just remember who called the range bound first

[955876]

The only “call” that matters here is ATH by year end.

The clock is ticking.

Things are not looking good for that prediction.


Here is some advice. If you give a price don’t give a date.

We will hit a new ATH.

I SERIOUSLY doubt we hit it by year end.

What do you care to wager on this?

[955876]

Name your price and I’ll be your huckleberry

[SteelerDayTrader]

I don’t get hung up on my predictions unless they are right

Lolololz

I follow the chart

[LakecrestSteeler]

Ya, Powell just threw a wet blanket on STD’s new ATH by year end.

Here is a better prediction, markets won’t hit a new ATH until not only the Fed is done raising rates but also starts to take rates lower.

Somewhere in between those two opinions is likely where things land.

But ATH by year end?? Still not seeing it.

This is now where my head is 95, hence my thread on the real issue with the US economy. I also think there is a possibility the rate hikes will be impotent.

As you also probably know, Michael Burry pulled his whole portfolio from the stock market over the last several weeks, except for one smaller position in a Florida prison for profit company. He has been right an uncanny number of times with huge sums of money relative to his net worth.

[955876]

ATH by year end looking more and more like a fairy tale by the day.

[SteelPro]

ATH by year end looking more and more like a fairy tale by the day.

I wonder why this thread gets so quiet when the markets are tumbling.

[Deebo]

ATH by year end looking more and more like a fairy tale by the day.

I wonder why this thread gets so quiet when the markets are tumbling.

LOLZ

[Pabst]

Mark Cuban said it best: "Everyone's a genius in a bull market"

[CRey11]

tesla is condensing this fiscal year i think. normally has a good q4 and poor q1 so i think its about to go off. tons of good news coming.

[SteelerDayTrader]

Long term TSLA is no fucking way right now

It’s gonna get hit HARD

[SteelerDayTrader]

Still above the June low but probably not for long

I’m thinking 3200 ish might hold.

[Professor Half Wit]

I always appreciate your insight, Brandon.

[SteelerDayTrader]

3571 is our new low and 3820 is our recent high

What you’d like to see now is a bottom above 3571 and a corespondent high above 3820 and the more higher lows and higher highs

However we might see peaks and valleys within that range contracting which is also a bullish signal

It’s noteworthy that 3571 broke above 3700 and finished near 3700 a green candle

In this recent down trend 3749.75 and 3734.35 are key lows

[955876]

Are you going to revise your ATH by year end prediction?

Wanna bump it to year end 2023?

2024?

Beyond?

Sure as shit isn’t happening this year. That was simply a bad call. Zero chance of that kind of rally in the face of massive rate hikes.

How’d you miss that one?

[SteelerDayTrader]

I still think we will see a reversal and a significant move up before the end of the year

Most companies are doing very well

It’s a once in a generation paradise for job seekers right now

Interest rates are high helping make the finance industry fluid and flush with cash

Military recruitment is at historic lows

Most of this drop is technical and speculation based rather than fundamental and systematic.

I could see a reversal very soon here

I highly doubt this goes lower than 3100-3200 ish worst case scenario and even in that case I would expect a nice ride back up

FED rate hikes have done their job in slowing inflation and we should see some holding steady announcements from the FED on the horizon

If the Dems get a significant edge in the Senate and gain good ground in the House the market will explode up as soon as the FED backs off stemming inflation

[SteelPro]

Funny you mentioned Chewy. That's one of the two positioned I paired back and took some profits on recently. The other being Upwork. As for the tech stocks that you are long on I favor Microsoft myself. It is a great cloud play that had been under much less regulation scrutiny compared to Amazon and Google. As I mentioned earlier I also like Alibaba though, which I just bought on a dip due to regulation concerns. I think Netflix is a bad play now. I think growth will be tough for them with the glut of new streamers, and content costs for them is going to be harder for them to contain compared with the streaming services from the traditional big entertainment/media companies that can lean into their existing synergies.

Haha.. such a mixed bag here. Alibaba has been my portfolio wrecker. I harvested some losses last year, but that will be nothing compared to the losses I might pare this year. But I nailed the other stuff. My point for dredging this up is to talk about Netflix. I think changes they are making now are going to be home runs. Tons of attention is being made of the forthcoming Ad supported tier. But the real biggie is profile transfer coupled with a crack down on password sharing. There have been studies that show 23% of streamer password sharing is done by exes. Basically not all account sharing is about skirting TOS to save a few bucks. Some of it is just pure convenience. So the ability to fork a profile into a new account is a really nice feature that has the potential to really goose subscriber numbers.

[Deebo]

I still think we will see a reversal and a significant move up before the end of the year

Most companies are doing very well

It’s a once in a generation paradise for job seekers right now

Interest rates are high helping make the finance industry fluid and flush with cash

Military recruitment is at historic lows

Most of this drop is technical and speculation based rather than fundamental and systematic.

I could see a reversal very soon here

I highly doubt this goes lower than 3100-3200 ish worst case scenario and even in that case I would expect a nice ride back up

FED rate hikes have done their job in slowing inflation and we should see some holding steady announcements from the FED on the horizon

If the Dems get a significant edge in the Senate and gain good ground in the House the market will explode up as soon as the FED backs off stemming inflation

So much for it being a job seekers' paradise.
Layoffs are coming and we'll see some larger chains close for good (Bed Bath Beyond/Kohls)

[Dan Smith--BYU]

FAANG has been a disaster and especially Facebook. I hope it goes the way of MySpace. These metaverse ads are incredibly stupid.

[SteelPro]

FAANG has been a disaster and especially Facebook. I hope it goes the way of MySpace. These metaverse ads are incredibly stupid.

Meta is an absolute mess. I’d never touch that as long as Zuckerberg is involved. Apple, Amazon, Google, and throw in Microsoft are still great long term investments. Obviously hurt by high inflation and other macroeconomic factors, but they’ll be fine in the long run. As I pointed out earlier Netflix has done a really great job of pivoting and course correcting. I still have concerns long term as their early mover advantage continues to erode. Much of their success will be determined by how that industry consolidates and how distribution and bundling evolves. But I think they have some upside here in the intermediate time frame. The analysts that cooled on them previously have been making upward revisions.