July 11th, the $SPX traded to new all time highs. On that day, I posted a note that there would be no dips to buy. The best we’ve had is a two week leveling off and a one day bear trap to allow folks on the FIMO train. Still doesn’t feel like there’s anxiety or worry about not getting in, there seems to be much more “let it go, it’s going to crash anyway.”
Look at the stock to market movement here. Absolutely incredible.
I’d blog about something here, but I literally am laughing all the way up on this $TWLO. Blow off move today?
$TWTR post IPO did $40-$75, but it also took about a month.
OA
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OA – What do you think about $LEJU?
Still sitting in the $FCX / $UWTI trades. Looking much better.
Would love it under $5
Looks like some day traders taking their scalps in TWLO
$OA….any thoughts on $CLMT
Here comes the flush led by oil.
Still on the market top call you left here a few months ago?
Bidding for some stopped out shares of SHAK below today’s lows
It was 2180ish when I posted not much has changed but someone will be holding the bag soon. Not saying it will be you but this is not sustainable.
Why not?
CAPE
How long you been trading?
20
If I didn’t have a full position on I’d hope the rally isn’t sustainable too. For those who agreed with OA’s optimism earlier it’s now just a matter of managing risk/reward against a considerable profit cushion. Nice to be on the right side of the stock gods.
I should have never posted my original comment! Jeff I know you are one of the top 5 traders around and respect you very much!! This was only my opinion and I play it too safe most of the time.
No, I pay attention to opinions. Last time you posted was back in March and April about a top. Just wanted to know how long you’ve been around. All respect to you, thanks for the comments.
No dips since that first post, but to fair, the market itself has hardly gone up at all since then…..but as you also said back then, it was more about individual stock picking, than the market itself.
Will also follow up this to say imho that the market’s biggest issue for the next week or so is that it has temporarily exhausted the richer part of the volatility momentum (namely crushing the VIX/VXX) which has fueled this rally. The VIX has been wrecked in a truly historical way and the market will need to get at least a decent dead cat bounce of the VIX so they can then sell it down again to fuel more substantive gains in the indexes.
THAT’S THE POINT, DUUUUUDE.
China +35% since Jan. Still another 20% to go.
My first Chinese post here said 40% to go, I could hear the sniggering in the background.
Snickering?