Can't believe the market lost +4% today!

murray t turtle said:
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THAT maybe true\ bear rally............................................ We will know by FRI close.
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As long as oil stays up and refining capacity is at an all-time low, the threat of $8/gallon gasoline and $10 diesel is gonna be on the table.
We're starting a full-fledged bear market that will end in recession unless that changes.
Any upskike in the indexes is just that. A bear market rally.
The trend is down. Don't fight the Fed. And don't fight the price of fuel.
 
murray t turtle said:
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THAT maybe true\ bear rally............................................ We will know by FRI close.
More...
I love these newbies to the game that think nothing matters and stocks only go up.
I'm sure he was buying last December too.
Fundamentals may not matter intra-day or even on week long swings, but they sure as hell matter long term. Quarter to quarter.

These markets are controlled by funds that have billions in assets under management. For the most part they have to be long stocks.
Well who the hell wants to own a stock of a company that has no prospects of earnings for years out?
Or even a company that does make money, at 50X forward?

What that one guy write? "These things don't matter".... LOL.... let me find my flight attendant post...

hahhaha... here:

vanzandt said:
I'll never forget this....
I was on a flight to Asia somewhere around 2000.... we were droning on through the middle of the night and the FA engaged me and the conversation turned to stocks. Go figure. She told me her husband and her were on track to be multi-millionaires within a year or two. I told her to be careful buying all these high flyers with no earnings because there's a certain universal financial physics out there and this wouldn't last. She flat out told me... and I quote.... "you just don't understand how the stock markets work".

I smiled, (rolled my eyes), grabbed my cheap ass blanket and their bs pillow... and settled in for a nap.
I'll never forget it.
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Jzwu2017 said:
Market is too volatile these days. I only do day trading to eliminate overnight risk.
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Since covid it really has been one thing after another. I think its so choppy then followed by large impulses. Ive been in mainly short trades too
 
do you trade the S&P ? i do successfully , and i use br schultzs timing that has made the difference . Look, i've been a member here since 2004 so i'm not a newcomer.
 
vanzandt said:
we're going back up.
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So far, err no!! We are going back down. Let's see how far down it can go today. According to my calculation, the next fibo level is at 3816, calculated off the extreme low from March 27, 2020 at the height of the pandemic and the extreme top on Dec. 21 of 2021. Right now the market is already at 3847, is it able to push down after 31 points? The market has to stop somewhere just like this Wednesday, probably at some levels that they see there were lots of retail buying just so the retail traders are shaken out of their positions. Has nothing to do with earnings, nothing to do with numbers or the economy or whatever. People just want to make some $$.
 
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Amazing another 4% swing on the NQ. I don't understand who are these traders buying it in the overnight to prop it up? I guess European bourses were higher so maybe that's the reason.

I still haven't seen a rally of more than 3 days on the NQ in a month or more. Its starting to look like early 2008.
 
nitrene said:
Amazing another 4% swing on the NQ. I don't understand who are these traders buying it in the overnight to prop it up? I guess European bourses were higher so maybe that's the reason.

I still haven't seen a rally of more than 3 days on the NQ in a month or more. Its starting to look like early 2008.
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No they just wanted to push the price up to cash in, the same as a pump & dump in penny stocks.
 
TheDawn said:
So far, err no!! We are going back down. Let's see how far down it can go today. According to my calculation, the next fibo level is at 3816, calculated off the extreme low from March 27, 2020 at the height of the pandemic and the extreme top on Dec. 21 of 2021. Right now the market is already at 3847, is it able to push down after 31 points? The market has to stop somewhere just like this Wednesday, probably at some levels that they see there were lots of retail buying just so the retail traders are shaken out of their positions. Has nothing to do with earnings, nothing to do with numbers or the economy or whatever. People just want to make some $$.
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bs.
We gapped up this morning.
If you didn't cash out thats on you beau.
That was strictly a call last night.
What I wrote about us being in a bear market and much lower by August has not changed one iota.
 
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