I Bailed
- Thread starter themickey
- Start date
You were right the first time.
Don't let the whales condition you like the rest of the lemmings.
Don't let the whales condition you like the rest of the lemmings.
I think we'll see it go into new highs now, but note the peaks how they are coming into shorter duration, that's what will be interesting going forward, how quick the next one will form and collapse.
I was going to jump back into the market with approx half a dozen new positions this coming Monday, but decided not to.
I remain a gold hodler from way back and a bunch of pennies additionally, that's enough risk and exposure for the meantime, the below made me think best just to sit tight where I am.
https://www.reuters.com/article/us-...ises-questions-about-cause-idUSKBN2BJ0KO?il=0
March 28, 2021 Updated an hour ago
Large block trades that caused selling raises questions about cause
By Reuters Staff
(Reuters) - A number of large block trades on Friday which investors said caused big drops in the stocks of a clutch of companies has raised speculation about what was behind them, with Goldman Sachs said to be a bank involved in the sales. Shares in ViacomCBS and Discovery tumbled around 27% each onFriday, while U.S.-listed shares of China based Baidu andTencent Music plunged during the week, dropping as much as 33.5%and 48.5%, respectively, from Tuesday’s closing levels.
Investors and analysts on Friday cited large blocks ofshares in both Viacom and Discovery companies as being put inthe market on Friday, calling them massive volumes, likelyexacerbating the declines. Viacom also on Friday was downgradedby Wells Fargo.
A source familiar with the matter said on Saturday thatGoldman Sachs Group Inc was involved in the large blocktrades. Bloomberg and the Financial Times on Saturday reported thatGoldman liquidated more than $10 billion of stocks in the blocktrades. The Financial Times reported that Goldman toldcounterparties that the sales were prompted by a “forceddeleveraging”, citing people with knowledge of the matter.
CNBC reported here that the selling pressure was due to liqudation of positions by family office Archegos Capital Management, citing a source with direct knowledge of the situation.
A person at Archegos who answered the phone declined to comment. Archegos was founded by Bill Hwang, who founded and ran Tiger Asia according to a page capture here of the fund's website. Tiger Asia was a Hong Kong based fund fund here that sought to profit on bets on securities in Asia.
An email to clients seen by Bloomberg News bloom.bg/3lYOrZm said Goldman sold$6.6 billion worth of shares of Baidu Inc, TencentMusic Entertainment Group and Vipshop Holdings Ltd, before the U.S. market opened on Friday, the Bloombergreport on Saturday said.
Following this, Goldman sold $3.9 billion worth of shares inViacomCBS Inc, Discovery Inc, Farfetch Ltd, iQIYI Inc and GSX Techedu Inc,according to the report.
The Financial Times reported that Morgan Stanley sold $4billion worth of shares earlier in the day, followed by another$4 billion in the afternoon.
Morgan Stanley and Goldman Sachs declined to comment.
I remain a gold hodler from way back and a bunch of pennies additionally, that's enough risk and exposure for the meantime, the below made me think best just to sit tight where I am.
https://www.reuters.com/article/us-...ises-questions-about-cause-idUSKBN2BJ0KO?il=0
March 28, 2021 Updated an hour ago
Large block trades that caused selling raises questions about cause
By Reuters Staff
(Reuters) - A number of large block trades on Friday which investors said caused big drops in the stocks of a clutch of companies has raised speculation about what was behind them, with Goldman Sachs said to be a bank involved in the sales. Shares in ViacomCBS and Discovery tumbled around 27% each onFriday, while U.S.-listed shares of China based Baidu andTencent Music plunged during the week, dropping as much as 33.5%and 48.5%, respectively, from Tuesday’s closing levels.
Investors and analysts on Friday cited large blocks ofshares in both Viacom and Discovery companies as being put inthe market on Friday, calling them massive volumes, likelyexacerbating the declines. Viacom also on Friday was downgradedby Wells Fargo.
A source familiar with the matter said on Saturday thatGoldman Sachs Group Inc was involved in the large blocktrades. Bloomberg and the Financial Times on Saturday reported thatGoldman liquidated more than $10 billion of stocks in the blocktrades. The Financial Times reported that Goldman toldcounterparties that the sales were prompted by a “forceddeleveraging”, citing people with knowledge of the matter.
CNBC reported here that the selling pressure was due to liqudation of positions by family office Archegos Capital Management, citing a source with direct knowledge of the situation.
A person at Archegos who answered the phone declined to comment. Archegos was founded by Bill Hwang, who founded and ran Tiger Asia according to a page capture here of the fund's website. Tiger Asia was a Hong Kong based fund fund here that sought to profit on bets on securities in Asia.
An email to clients seen by Bloomberg News bloom.bg/3lYOrZm said Goldman sold$6.6 billion worth of shares of Baidu Inc, TencentMusic Entertainment Group and Vipshop Holdings Ltd, before the U.S. market opened on Friday, the Bloombergreport on Saturday said.
Following this, Goldman sold $3.9 billion worth of shares inViacomCBS Inc, Discovery Inc, Farfetch Ltd, iQIYI Inc and GSX Techedu Inc,according to the report.
The Financial Times reported that Morgan Stanley sold $4billion worth of shares earlier in the day, followed by another$4 billion in the afternoon.
Morgan Stanley and Goldman Sachs declined to comment.
You are allowing yourself to be overly influenced by daily news and random pundits that are overly bearish about markets. Whenever I see news/opinion I ask myself is it a real game changer or noise that financial journalists and reactionary traders feed into. This site is never short of traders calling tops based on nothing at all.
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Yes agreed re news bias / influence but I'm thinking this way....
I'm currently sitting on a bunch of namely gold positions which are underwater. However gold has taken a large hit last few months, sold off harder than anything else.
So in a way if anything has upside potential it's gold. (Fingers crossed).
We are coming into April now - "in May go away".
I'm not in the mood to be exposing myself to additional risk considering (a) gold has already done some damage so I'm not going to add anymore gold positions (b) I've done well with fintechs, Lithium and other positions which I sold just recently, they seem a bit toppy atm still, bottom fishing is my preferred method, not top fishing. (c) conflicting signals atm, it feels like a bearish mkt but Friday was bullish - therefore I'm pulled in two directions. (d) If the mkt goes bullish I should make money on some good potential penny's I'm holding plus maybe the gold (e) If the mkt turns bearish I'm going to be reasonably safe as I have dry powder sitting in the vault - not exposed to mkt.
I think the week ahead will probably be bullish but I prefer longer holding than a week.
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