Relief rally is all these past two days were. Expect much more down in NAZ thanks to rising Fed interest shit. Why? Don't ask. It's what the algos are programmed to do.
SPY after hours
- Thread starter Ayn Rand
- Start date
Relief rally is all these past two days were. Expect much more down in NAZ thanks to rising Fed interest shit. Why? Don't ask. It's what the algos are programmed to do.
15 minutes before the bell:
Tech is gonna drop like a rock. Today's run is in anticipation of TSLA's earnings.
The whales just wanted to sell lots of calls on tech stocks at a premium.
Opinions are that the Fed is not going to be tough on inflation.
The best cure for high prices is... high prices.
That said, housing needs to chill some. It is the most most important sector, because it encompasses all the rest in some way shape or form. It's like the head of a snake. As is oil.
Rates can't fix oil, but they can sure as hell slow down housing.
Rates are STILL going to go up, it's all about the price of homes.
You can mark this post.
~vz
You are trying to find a SIMPLE SOLUTION to a much more complicated PROBLEM. This is what Hitler tried in order to solve Europes problems back in the day.
We can sit here and debate all the complexities and reasoning for why this or that happened, but you still won't have solved it. One example I'll re-hash here:
One day Renaissance made a mistake and due to a bug/fat-finger-order accidentally over-leveraged their futures trades by a factor of 10.
The VERY NEXT DAY you had the so-called media experts all giving their SIMPLE explanations as to what really caused the weird anomaly spike, etc.
Jim Simons was reading and watching them and got a good laugh about it. Naturally, not one of these experts seemed to have hit on the true reasoning behind it...
Netflix is only 0.4% of SPY. But you also have to factor in that every other member of SPY that depends on streaming subscriber revenue also fell heavily - Disney, Comcast, Roku, Amazon.
It was a good opportunity to make money off the the sympathy play.
Well, Roku was actually UP for the day (quite a lot earlier in fact). Which was interesting, as I was expecting it to continue the slide downward today and was ready to short more PUTs. Still it closed in the green.
Algorithms dumping everything can provide opportunity to buy if you feel the selling was overdone.
Man, one thing I have learned is that algos are Bart Simpson, and the market is the fish.