Yes, the hammer was easy to see at support on the weekly chart, which was more compelling...... But not with a parabolic V shaped move without stopping to let people off the bus. That's a recipe for disaster, and many will find out for the first time the hard way.
Maybe you're right, a slow burn. It will take time to wipe out the unsuspecting dip buyers.
I've given up trying to figure this out. Listen, I get a good stock market with an improved economy. What a don't get is a market that doesn't back and fill, correct, let go of the excesses, etc. Technically this latest move makes no sense at all. I honestly believe there will be a market crash before the end of the October this year.
No one wants Yelp as part of their acquisition strategy for a lot of reasons.
He says to sell stocks on any strength, except for health care and biotech, which he said will not be affected by geopolitics, corporate margin compression, the Fed, or slow revenue growth.
Everybody look what's going down.....and hopefully it's the stock market at some point.....
The talking heads will cite historical trends in the market, that's all they have. They use the term seasonality to their advantage. The market could continue to go up in Aug and Sept, right through Oct. Then they'll tell you because of strong seasonality, Nov.-Jan. is the best time of the year to buy stocks. It's all BS, they create their own self-fulfilling prophecy.
How about this for a strong argument? The weekly chart says the stock is heading back up to $142-$145 next week. Who needs fundamentals when you have technicals?
And I figured you for a liberal, was I ever wrong! So we have that in common! How goes it lady? Where's our real correction already?
And then no one will stay short over the weekend, so we'll have a follow through day Monday. It's fun watching the shorts squirm.
obviously clueless. If Russia invades Ukraine, or if the war escalates in any way, this market could be down 500 points in a day. The other thing is that the market is trading on technicals, and today's reversal resumes the downtrend, and likelihood of a near term correction or a break of 1900 to the downside.
Russia and Ukraine may be minutia, but technical reversals are not. Keep that in mind.
I suggest everyone buys some volatility hedge right now; VXX or UVXY would be good choices.....seriously.....No one wants to see the futures open limit down on Monday if they're long the market.
And you thought this would go straight up all over again? Who's holding long over the weekend? Who forgot or could care less about hedging their long bets? Sure, I know, another buying opportunity.....
Why would you assume this poster is an old-timer? What is an old-timer? Passing the torch? This time is not different, it's always the same. He's giving you a fair warning. If and when you wake up one morning with the futures in limit down mode, you'll wonder why you didn't hedge all your long bets.
Lots of synergies, Alibaba will certainly have the cash after their IPO after Labor day.