Stock Markets

[Pitcher]

I’ve sat at my Trading desk all morning and have only made one trade, BA, off the morning lows.

I hate trading Fridays but with all the turmoil I thought I would check out the action.  We were down almost 400 points on the Dow 30 at one point. 

It looks like the crooks are buying em back up, currently only down about 60-70 points.  I don’t trust this little rally. The S&P broke a critical technical indicator early this morning.  I believe we’ll hit that low of a few weeks ago at the 200ma.  Markets rarely go straight up or straight down.  In the mean time I’ll trade what I see on the charts not what I think or feel.

 

its Miller Time for me!!  Have a great weekend all!!

[Pitcher]

I’ve sat at my Trading desk all morning and have only made one trade, BA, off the morning lows.

I hate trading Fridays but with all the turmoil I thought I would check out the action.  We were down almost 400 points on the Dow 30 at one point. 

It looks like the crooks are buying em back up, currently only down about 60-70 points.  I don’t trust this little rally. The S&P broke a critical technical indicator early this morning.  I believe we’ll hit that low of a few weeks ago at the 200ma.  Markets rarely go straight up or straight down.  In the mean time I’ll trade what I see on the charts not what I think or feel.

 

its Miller Time for me!!  Have a great weekend all!!

[alreis]

Mmmmmm  Miller time. Count me in

[coorslite21]

On 3/2/2018 at 1:03 PM, Pitcher said:

 I don’t trust this little rally. The S&P broke a critical technical indicator early this morning.  I believe we’ll hit that low of a few weeks ago at the 200ma.  Markets rarely go straight up or straight down.  In the mean time I’ll trade what I see on the charts not what I think or feel.

 

Since the DJ high of 26,616 or so there have been some ups and downs...........any thoughts on a 30% total correction....or so....in the near future?

 

Somewhere under 20,000......?

 

I believe we will see 18,000 again..........and if the NK event rolls.....much lower than that........JMO......CL

 

 

[Pitcher]

11 hours ago, coorslite21 said:

Coors, 

I gave up trying to figure out what the market will do a long time ago. I can throw some stats at you like, what the market did in Feb (drop 10% or more followed by a 7-10% retrace up) more than 65% of the time since 1960 there is a correction that is 25-28%.  Most traders know those stats but 35% of the time it doesn’t correct back down.  The market hates uncertainty and we have that by the handfuls right now.. I thought we were on our way down this morning but the market had other ideas.  Volatility rules for now and I’m not putting any money to work long term at this time.  I still think we retest the 200 ma on the S&P but again the action today suggests MAYBE NOT!!   

Here are the things that are good with the market  1.  Earnings this last quarter were good  2. The tax cuts should help the large companies immensely  3. People are getting raises, bonouses and are paying less taxes.  4. The world economy is in recovery mode

5. Burdensome and oppressive regulations are being lifted 

Headwinds for the market.   1.  The Fed is in reduction and cleaning up of their books mode after 6 years of QE.  We’ve never been here before and no one really knows for sure what happens   2.  With a return to a Fed normalization, markets will see less straight up action and more volatility. The safety net is being taken away.   3.  The Fed is in a rate hiking phase and that could derail the 9 year Bull Market   4. If a trade war does break out expect inflation and more pain  5.  If the Mueller investigation gets going bad for the President that could be a huge headwind  too.  There are more but you get the idea.  The market has had a lot to decipher and we could go either way imo.  I hate to give you an indecisive answer but there are a lot of moving parts to a world market.

To me we are at a crossroad,  the Bull, Bear Battle is a good one.  We’re not sure who wins so I’m 100% cash until I see what shakes out  

And get a better trend.  I’m  Day Trading this market and doing quite well.  Today I traded Nflx and Sq.  Big day!!!

Some in this room should invest some time and learn how to trade instead of railing against the President. Since I took over my portfolio I’m doing so much better than the “Professional”.    I will say this, my first 2 years I lost 45k learning how to invest, swing trade, and Day Trade.  I felt like a fool but I was also very determined, highly determined, and very committed to learning.  That was over 20 years ago.  I’m pretty damn good these days.  The Crooks in NY don’t get me too much these days..