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Hey Nerds: Blockchain

Would have liked to see bulls set the higher low early and push straight past yesterdays daily highs. Unfortunately we may get a slew of daily inside bars heading into tomorrows FOMC. Bulls may not have much space over yesterdays lows in the end.


Of course I would never even count out losing yesterdays lows today with how things have been going lately. Wouldn't count out breaking yesterdays highs either! Either way.. .Bulls made a push this morning shortly after open but bears defended brilliantly well. They're in full control. This has been a blast to watch.
 
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just got 40 ES points during my coffee break (love going long during panics)

turning off my trading software until tomorrow
 
no idea...but it closes at 5pm et.....and reopens at 6.

takes the weekend off too....doesn't trade Friday night but back at it Sunday at 6pm
 
MSFT earnings beat...but met with massive selling after hours

TL;DR market players think everything is overvalued

 
Been beating the drum for awhile now. As captain of the "buy the covid dip" team this was always gonna happen! Even if it's temporary, we were always going to get to a point psychologically where the market wakes up and determines that stocks are overvalued based on historic multiples being nowhere near what we're seeing today. It doesn't mean anything... the share prices are just numbers after all (EMOTIONS!!!). But eventually we were gonna get to this point!


Happy shopping!
 
The other bit is... If one sold once multiples started looking aggressive, you would have lost out on SOOOOOO much upside. So these "metrics" are largely bullshit and tools used to fuel emotions by shifting sentiment on a dime. But it was a weapon available to the bears that made me grossly uncomfortable in the past several months!
 
Yeah...I mean I keep thinking of that post I put up here several times. it showed how Apple didn't grow their business but the share price still went up drastically because investors were suddenly willing to pay a higher multiple for the same balance sheet.

it's a matter of players chasing higher to meet their personal performance metrics...until they stop.
Hard to predict that type of sentiment shift...but it usually plays out the same way

-- higher growth stocks get pummelled but the overall market is held up by the mutual fund heavyweights (AAPL, MSFT, GOOGL, etc) we saw that this fall
-- the selling hits the heavyweights. seeing it now
 
The other bit is... If one sold once multiples started looking aggressive, you would have lost out on SOOOOOO much upside. So these "metrics" are largely bullshit and tools used to fuel emotions by shifting sentiment on a dime. But it was a weapon available to the bears that made me grossly uncomfortable in the past several months!

indeed...money managers need to hold their nose and chase...can't tell their clients "I'm sorry I missed the last 50% of the bull run because I was being sensible with your dough....you'll thank me in two years...WAIT where are you going.....COME BACK"
 
man these fucking moves are quick...you blink and S&P drops 40 points

glad I stayed away after banking earlier

another flush would interest me

ES down 100 points from it's afternoon high
 
the other thing is there's a massive retail contingent trained on BTFD and MEMES >>>
 
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