There will also be blood.
I see the market is reversing off the lows, sending shares higher. If you’re like me, you already have longs. Albeit, my level of degeneracy pales in comparison to yours. My top holding is ETR, a utility that pays more than a 4.5% dividend. My second largest is TRN, followed by CYBR, WRE and CLR. That being said, I track the NASDAQ 100 pretty tightly, a design that I created in order to avoid being blown out.
Let me remind you of the suggestive nature of this tape and to be careful of chicanery. Just because we are rallying now doesn’t mean all is well. This market is infected by a cancer, an ailment that can only be cured with soaring WTI-Brent crude prices. We need to know global growth is ok. After seeing the MCHP warning, tech investors are feeling uneasy. Look at MU.
I am hoping for the best, but certainly will not be surprised to see a late day collapse.
On the positive side, this is day 14 of The PPT missed oversold signal. In other words, the last time it was wrong, it took 14 days of market mayhem to finally rip higher.
Hopefully history will repeat itself.
NOTE: Today is the last trading day of The PPT free trial.
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The NAZ 100 is toast later unless the chips turnaround and it doesn’t look like it thus far.
The Black Boxes are fucking with us once again. Watch your wallets.
HCLP just announced another increased supply agreement between themselves and HAL
BAS reported well service hours…no change. They also hiked revenue guidance.
Yes sir, this Bakken slowdown is just crippling…
holy shit the SOX is down 5%+! that’s not good for tech stocks. semis are usually leaders during periods of risk on.
That reversal reversed fast.
Sorry kids, there are only rumors of rallies… no rallies themselves. Get some diapers, because shit is coming.
FB is making a right shoulder of the infamous H&S pattern as we speak, oct31 puts $75 in at 2.90
Ouch, I wonder many that initial rally sucked into the void?
The VIX (VXX also) seems to say no to a breakdown later and the Russell 2000 is not following the NAZ 100 and therefore (among a few other reasons) $$ to be split RYDEX 2X Russell 2000 and DJIA 2X @ AM price.
And to I-am-an-idiot: the market fluctuates and if one doesn’t understand this along with the risks inherent therein one should be in CD’s (not the music) or T-Bills.
Off on the bike.
Can we get the damn bull logo removed from the header and call in the bottom?
Quick Fly, change to the bear logo! 😉
What about a bear skull and crossbones logo?
buy EMES & HLCP now
The Fly is right, there will be a monster oversold rally, but the key is if we make higher highs which should signal the continuation of the bulled market, or if we make a lower high could signal an intermediate term trend change, but not necessarily a full blow beared market like 2008.
Semi bulls getting shat out the arse. Is that enough is the question.