Comments on: Charts Of QQQ, SOXX, & Leading Semiconductor Stocks

By: pmtob

pmtob — Fri, 24 Apr 2020 22:06:32 +0000

Im regretting not getting out of NVDA on this morning’s dip, that’s for sure. I somehow didn’t even notice that it went to almost 293 yesterday hah

By: becky

becky — Fri, 24 Apr 2020 21:48:57 +0000

In reply to gthompson333. This is palladium of the stock market in my humble opinion.

By: G-Trader

G-Trader — Fri, 24 Apr 2020 18:22:38 +0000

ONe of the reasons to consider why markets are not going lower is because a lot of bears. As long as people are still bearish markets will not turn. As I said we will see 300 before we go down. Possibly higher. It’s not about patience. It’s about going with the trend. Right now the trend is bullish.

Bets Against the Stock Market Rise to Highest Level in Years
https://www.wsj.com/articles/bets-against-the-stock-market-rise-to-highest-level-in-years-11587288601

By: gthompson333

gthompson333 — Fri, 24 Apr 2020 17:25:12 +0000

In reply to bill9518. The market will go lower, but not until unexpected bad news arrives, and vice versa. The key word being "unexpected". For instance, if the infection rate in Georgia goes through the roof. Once a few of the institutions decide to bank profits and run, the herd should follow.

By: gthompson333

gthompson333 — Fri, 24 Apr 2020 17:22:17 +0000

In reply to ds2000.

Indeed, the hard part is deciding how much to go under, before giving up. Portfolio death by a thousand cuts eventually sets in. I think it would be dangerous to assume this fed – Lord Tang stoked market will hit new lows, or even go much lower, at all. The March plunge was only because it happened before Fed – Lord Tang had a chance to react.

By: gthompson333

gthompson333 — Fri, 24 Apr 2020 17:17:27 +0000

In reply to jfk. Also, Zoom joined the QQQ, today.

By: gthompson333

gthompson333 — Fri, 24 Apr 2020 17:16:45 +0000

In reply to dforget. Heh. No doubt. Always seems to work that way. Pull out of your shorts, then BOOM! You wake up in the morning, seeing a HUGE red gap down. DOOOOH!!!!!

By: gthompson333

gthompson333 — Fri, 24 Apr 2020 17:14:53 +0000

In reply to vikingwrath. I was mostly joking. I've been reading about Millenials getting burned, using apps like Robin Hood. They jump in, start seeing a position go down, and jump out with a lose. They seem to want to make money QUICKLY!! No patience.

By: bill9518

bill9518 — Fri, 24 Apr 2020 16:29:09 +0000

Thanks a lot, Randy. Charts I am studying on Spy as follows, seems to me the market is not gonna chose a direction until the next week big Techs report their earnings. Spy likes to whipsaw between the marked triangle up and down although it might be even touch up and/or slide down the trend line. The market maker want to kill those option buyer through time decay except those smart money or professional trader take their profit or cut their lost before the market close. Dose this kind in mind make sense? Thank you.

By: ds2000

ds2000 — Fri, 24 Apr 2020 16:19:16 +0000

Patience is right. For reference, go back and study the charts from 2008 and you’ll see that after the S&P retraced up to the 50 Fib, it spent 4-6 weeks going sideways and then only gradually dribbled down before a larger move occurred. It was then another 4 months before a big move down happened. Bear markets are hard to trade. Don’t get frustrated. Study and prepare and wait for your signals.

By: GetItRiight

GetItRiight — Fri, 24 Apr 2020 16:17:17 +0000

In reply to jfk. Yes, that's my frustration as well. No matter the news coming from the companies themselves, the dip gets bought.

By: vikingwrath

vikingwrath — Fri, 24 Apr 2020 16:13:12 +0000

In reply to dforget. Or when we're all out of money.

By: jfk

jfk — Fri, 24 Apr 2020 16:09:40 +0000

Intel gave a clouded forecast and google is cutting its advertising by 50% in the second half of 2020 and the stock market is flat. Intel is down 1.3% and google is down 1.4%. That is not much of a reaction so far. IT seems the market wants to go higher. The divergent high target of 220 on QQQ may be in play before the market rolls over. Is anybody else thinking this way?

By: dforget

dforget — Fri, 24 Apr 2020 16:02:27 +0000

In reply to vikingwrath. It'll break a day after you decided it was enough! :)

By: Swingisking

Swingisking — Fri, 24 Apr 2020 15:57:15 +0000

In reply to vikingwrath. Next week should dictate where we are going ( due to most tech giants earnings). If that doesn't do it, I don't know what can get us out of this trading range on SPY

By: gmatache

gmatache — Fri, 24 Apr 2020 15:54:19 +0000

In reply to gthompson333. A month? I don't see how that can happen because if the trend does not break within days, that only means we continue to move up, which also means transactions stopped out and old resistance levels becoming new support levels (which is my preferred scenario).

By: vikingwrath

vikingwrath — Fri, 24 Apr 2020 15:53:00 +0000

In reply to gthompson333. Gd, another month and we'll be at ATHs again. Are you serious? 4-5 weeks of the same trend will literally put the SPY back to 340. Please tell me that you see this. Will you still hold your shorts through this whole rise?

By: vikingwrath

vikingwrath — Fri, 24 Apr 2020 15:47:15 +0000

In reply to gthompson333. Nope, I'm old but I act young. I'm not addicted to Fed money, and I will never touch Bitcoin unless it replaces USD.

By: gthompson333

gthompson333 — Fri, 24 Apr 2020 15:44:02 +0000

In reply to vikingwrath. Two, three, weeks is nothing. Could take a month. Patience. Out of curiosity ... would you happen to be a millennial?

By: vikingwrath

vikingwrath — Fri, 24 Apr 2020 15:42:04 +0000

In reply to gthompson333. We've been patient. When is this going to break?

By: Ahmar1977

Ahmar1977 — Fri, 24 Apr 2020 15:39:12 +0000

Can you please look at TSLA? Hr. Chart

By: gthompson333

gthompson333 — Fri, 24 Apr 2020 15:17:45 +0000

Thanks, Randy. Patience is the key. Have a great weekend.