Here in the opening hour of today’s decline, the $NYMO has reached -80, reading oversold.
The $NQ_F still hanging out at its 4290 lows over the last several weeks. P/C ratio hit another extreme today.
Just bought some $SQ…more later.
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Get that Vaseline ready!!!!
you would like that wouldn’t you
Had a beautiful thing going on this $FLO short until I neglected to double check earnings. Trying to do too much during my busy season has its costs.
you got to check your FLO….
Why not $NAMO if you’re focusing on Nazz names?
I’ve always used $NYMO. Broad based.
OA, I’ve got a question for you on regarding a prior post on the record low $TICK. At first glance, this would seem like an oversold signal and capitulation, but then you mention it would be hard to reverse the S&P breakdown. Can you square (pun intended per your recent purchase) this up for me? Was the breakdown comment in regards just to intraday action? By no means trolling at all; just want to learn and gain insight. Thanks in advance.
I don’t recall saying that, sorry.
No worries, I may be reading too much into it and if so, my bad. Moral of the story seems to be that an extremely low $TICK reading is likely a contrarian signal of a bullish sign, no?
AAII bulls down to 19.3%, it was 19.2% the week of the Feb lows (that was near the lowest in 20 years)
WMT HOD…futures at the lows. Buy em.
17+ VIX + Intraday Put:Call currently at 1.40. Lots of fear out there.
Crash has begun
If AMZN and WMT both affirm that the consumer is alive and well, do you really want to take the other side of those behemoths? Large part of my recent negativity was centered around $2+ gas and its impact on consumers. Since then Crude has backed off and may have peaked. So I ask you, what’s not to like that hasn’t already been priced in? What positions do you have on currently?
Doesn’t matter. Prospect of higher rates kills any momentum
That’s pretty light…if consumer spending proves to be resilient with $2+ gas, do you really think they’re going to feel a half point move in rates? Most of the folks that bitch about these things cannot qualify for a mortgage.
Are you a home owner?
We are going to crash because of interest rate hikes? You’re crazy. One can take a contrarian point of view and say the rate hikes(hopefully gradually) are a positive sign that the economy is stable and inflation exists, even if it doesn’t feel like it.
Gotta love that NK
Jeff – might have another chance at the CHD calls – maybe the June or July’s. Company denied any talks but option activity says differently. Take a look and share what you think
That is a ton of activity given that this stock doesn’t trade many options.
OA, /SQ being Square stock? Or some index/future? Just checking. Thanks.
Yeah, shares of Square $SQ
Anybody interested in VRX on the long side?
I don’t have a position, but it is interesting on the basis of the fake breakdown it did on 5/12 and 5/13. At the same time today’s action isn’t very inspiring…
Ironically, just got in.
Today’s close is the most important one in months based on where we are. If the bears make this stick there is a possibility of the floodgates opening. The bulls need a strong stand this afternoon.
Chief,
What level are you eyeing for close above/below as your signal. FWIW, I like your measured, clear style. I’ve never seen any fence sitting comments from you; always clear, well reasoned positioning. Do you have a twitter handle? Many thanks.
Thanks, I don;t really use twitter. A close at the lows would have been a strong signal but the bulls have dug in here and this could be a nice short term buying opp. Easy to mange if you want to go long as you can use these lows as a stop.
Thanks Chief.
$WFM – Quite the base
I’m getting close to adding it to LT account.
12:41 pm TRIN 0.59 ??
Anyone in $X? Just took a bite.
OA. Do you have any specific metrics you are following which would completely change your view on a market recovery? You seem to have a good take on things, but wondering if there is a “Plan B”?
The NQ would have to go down. Since my post on 4/29, the NQ is still above those prices.
I’m 100% long and I’m seriously considering throwing in the towel before closing for the sake of capital preservation.
How are other longs out there feeling?
why don’t you just get some hedges in place?
That would be the logical approach I suppose. This grind is nauseating.
finally. the trolling reversal taking some effect