Discard today’s gains as a national obligation. I read somewhere that stocks trade up 85% of the time the day before Thanksgiving. Often times we rally and then trade up the day after Thanksgiving, only to be severely whipped at the gibbet the following Monday.
The issue with buying today is you’ll end up getting ravaged on Monday. I’ll be avoiding this session, playing spectator mode, preparing for National Feast.
Lost of stuff to do today, such as make stock, brown sauce, dark and blonde roux, slave away at the house in preparation for company. The day before Thanksgiving is always a busy one at House Fly and I’ll likely be up till 3am putting the finishing touches on things.
Enjoy today’s respite and use it to lighten up your exposure, especially if you’ve been hammered into the ground.
As an aside, tomorrow will be the coldest Thanksgiving in NY in 117 years.
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I’m no bull-bot, just a humble oversold algorithm. Beep boop.
caugbt Boeing yesterday morning near bottom, just sold premarket for 326.50. hope it doesn’t go too much higher today.
Mr. Fly what about that UA coming off a strong earnings report for that retail play?
You better BRINE that bird for maximum CRISPSNESSESS for sacrifice to the turkey gods
i’d instead look for a chance back at NKE in the high 60s (like yesterday) prior to it going ex dividend on november 30. as goes UA, and FL, same one would think NKE will go.
Im feelin a dip into SKX too
Don’t be scared! Buy now…. Next week we fly higher.
Enough fear mongering, Fly
It’s not fear mongering. Fly called the drop Monday afternoon, and boy did we drop yesterday. It’s forgotten already, (and never noticed by the vast majority) becuase of the intra-day recovery.
Its fine to dip your feet in, but it’s too early for long-only traders to step in (wait ’til monday). If you aren’t holding any option puts or short positions, you should probably wait, because make no mistake: we are in a bear market and rallies will be sold.
If AAPL can’t hold $180 (and it really is doing a bad job today), more downside is comign up soon.
Fly, I love your taste in music. Can you post a nice nostalgic ballad for Thanksgiving?
I had to let him go
NFLX and LULU are both hovering precipitously over some dead air volume pockets. Next week could be interesting. Enjoy the holiday.