Bought PCAR toady on that second dip today, I was kicking myself yesterday for no going long at open. Anyways, based on yesterday's action, I'm convinced it wants a gap fill before earnings. It may even retest the top. First, it's gotta get over that resistance at $87, hopefully the market gaps up tomorrow for Ponzi 401k paypday Friday. If you trade PCAR, you...
I think it'll hit the July high again, but then again, I'm thinking the stock market will as well, and that's a safer bet. It hasn't been trading with the market on a day to day basis but for the most part, BTC is trending with the general market. Other cryptos are in the garbage pile along with garbage stocks like PTON, SFIX, FCEL, BLDP, etc. VFS stock shows...
I mentioned the same thing with VFS stock, but bubbles pop quick with higher rates. Avalanche rally didn't even go 2 weeks, dropped all the gains in less than one week, and based on indicators it looks like it'll set a new AT Low. I think Cryptos are toast.
I think the Hamas drop is keeping RSI from going overbought, MFI is overbought and coming down. Made 5k on this pump, decided to close it out and just go cash. CPI numbers Thu premarket.
Looks to me like TSLA is forming a rather large pennant for earnings Oct 18th. I haven't played with the stock in a while, too much random "news", almost once a week with this stock. Anyways, the targets are last year's bottom or April '22 top depending on which way it breaks. If I had to guess, I'd say it's continuation and goes up. I wasn't really planning...
Well, SPY and ES MFI came up off the bottom finally. I think this morning was the final bottom. Another rate hike priced in and most of the inversion priced out. Even if the futures traders try to do another premarket rate hike dump, I think it just recovers like today. Might just hold my long position for a couple of weeks instead of playing the pump and dump.
A little lesson in interest rates for you kids out there following me. The notion that rates are too high for the market to go up is nonsense, we're basically at the same interest rate as when the Dot Com Bubble and Housing Bubble occurred. The low interest rates you've seen for the last 15 years is because of the housing bust and subsequent QE. You can see...
One hour left to go for Ponzi Friday, ES is not overbought yet. Unless it goes up another 20 pts before close, I'm gonna hold for the pump and dump gap up Monday. The way these 4 day short squeezes work is it should go up Monday, dip Tuesday, up Wed, then drop Thu when CPI numbers disappoint, lol. No idea about gap direction for Thu. If we get the gap up...
Holy crap, lol. SHould've paid attention to the 3hr and not the daily. Gonna wait until indicators to go oversold before adding anything. Holding the PCAR shares for now, 300k job add is positive news for a company that sells trucks.... normally the market would pump good economic news, lol.
MFI close to overbought again on the 3hr, but it finally made a move up on the daily. Tomorrow is Ponzi Friday as well. I'm guessing another whipsaw day tomorrow. Best guess is that it's a whipsaw bottom like last Oct. Go long on a stock you have confidence in. We could just whipsaw for a couple of weeks like last Xmas. I don't recommend options trading at...
I mentioned it earlier this morning, but the red arrow I drew a couple of weeks ago also happened to be the down channel. Futures broke out of the channel today, but my 3 hr chart shows MFI close to overbought, so could be a whipsaw day tomorrow.
MFI went overbought premarket, looks like a pump and dump to me.
This is what I was talking about earlier, MFI actually went down today. MFI for SPY and SP:SPX was flat. Indicates to me that today's pump was actually dip buying in stocks, and wasn't driven by the index futures or funds. So I missed out this week, oh well. Not gonna play the Friday Ponzi pump unless the market somehow goes oversold tomorrow, which I highly doubt.
Futures got a bump because FDAX hit oversold and bounced this morning. RSI moved quite a bit because futures were down over 25 points when EUro markets opened, but look at MFI. No money flowing into futures at all. I posted a chart yesterday, something doesn;t feel right with this market. Opting to stay cash for now.
FDAX hit oversold on RSI and MFI and bounced as I predicted yesterday. Bounce was big enough to gap the US market up. I didn't want to post too early until I got a chance to see what the US market does with that.... which appears to be nothing so far, lol. Small caps and Dow are red now. Staying cash for the moment
Interesting how the market basically topped out in July around the same time bond traders started correcting the inversion on longer term bonds. I said a few months ago that bond traders don't know what they're doing, lol. They were assuming rates were just gonna drop back down, now they've adjusted. Problem is, all of the bonds banks have bought in the past...
Daily indicators are oversold but the market is acting a bit strange. Daily MFI flatlined at the oversold mark on ES1!, SPX, and SPY, and I haven't seen something like that since the COVID drop. I'm probably gonna go long on the next drop if there is one, but something feels a bit off to me. Just warning you guys.
A lot of my followers are trying to short pumptarded stocks like AAPL, TSLA, etc. Having been around during the Dot Com era, I want to let my followers know that pumptardedness can last a long time. Here's an example, BLDP was in bubble mode for 10 months, took an entire year to collapse and eventually traded around 50 cents before moving back up. And they...