I wasn't interested in US broader markets until they corrected. Big quality in US looks decent at recent levels not a screaming buy but good for a longer term investor. I'm not in that mode yet but a family member is.
We've seen the bottom, up from here
- Thread starter themickey
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I wasn't interested in US broader markets until they corrected. Big quality in US looks decent at recent levels not a screaming buy but good for a longer term investor. I'm not in that mode yet but a family member is.
It's a volatile junior stock but the fundamental story is good. Kind of a leveraged play on $70+ WTI. All the Cdn energy report next few weeks so the question is if broader market weakness is contained enough to get us there. Of course, if WTI drops $5 one morning I have to pull some of my positions. No free lunch but I made a lot of money on a group of around a dozen stocks I swing in and out of over time. I carry anywhere from 2 to 9 of them depending on momentum, Oil price, news. Gear if it starts failing again I'll bail at a profit.
I'm curious why Cdn Nat Gas stocks haven't moved much the last few days. Birchcliff ( BIR ) is one of my biggest losers lately.
You mean Alberta not Canada I guess. Energy and housing is all that keeps Canada from falling apart at its liberal seams. All at the expense of the same young Canadians who voted in this government.
How high could the markets go? Retrace back to the highs, then what? The markets already did a "run to exhaustion" and the Fed has no room to lower rates.
The only way there is another bull leg from here is if the Fed goes into "hyper-print/hyperinflation" mode where the $USD gets trashed. Nobody in his right mind wants that.
It looks like peak inflation. Also notice spending was down and inventories rose in the GDP report. Peak inflation.
Loans and credit are not services by inflation but by paying interest. Interest rates will only increase going forward.
Sure looks to me like the correction is over for SPX. GXE pretty good day still holding. I'm hoping for a late flourish on Crew Energy ( Nat Gas ).
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I see your points; but too many MSFT, UPRO,TQQQ.....................................weekly buyers.
DAL dead cat still has plenty of sellers but that lousy management went bankrupt with no virus. LUV is a great airline but that sector is so skinkin' hard to make money in , i avoid any longs except around 9-11 bottom short term trade.........................................................
Well I will say an entire hour candle just broke out above the bear channel open to close by almost 60 points on ES since it began its drop from ATH. Also day is looking to close above the 200 day SMA currently at 4415. Would like to see it close above 4450 atop the range though. Might have been one hero call by Mickey. If so I give him props. By far my best week daytrading for almost $20,000 with all of the volatility.
Edit - 200 SMA went to 4221.50
Edit - 200 SMA went to 4221.50
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