Comments on: Market Analysis & Trade Ideas 5-30-23

By: HermonMunster

HermonMunster — Mon, 05 Jun 2023 03:09:16 +0000

Hey Traders,
News tonight is the that the longshoremen in Long Beach California are doing a wildcat strike. This is impact logistics for almost every company importing from Asia. I did some research and MSC owns that terminal where people are striking. They don’t appear to be publicly traded. Be careful with this info. The big players, UPS and FedEx will be affected but remember that they will make lots of money flying shipments in the short term.

https://www.cnbc.com/2023/06/04/long-beach-calif-terminal-hit-by-labor-turmoil-and-wont-open-monday.html

By: toddabauer

toddabauer — Mon, 05 Jun 2023 01:27:22 +0000

Someone mentioned Discord as a alternative place to chat. Here is a Link to a server I established. I’m around but too busy to super engage but please feel free. https://discord.gg/HG5s4pZw

By: Jeff Vandenburgh

Jeff Vandenburgh — Sun, 04 Jun 2023 06:45:58 +0000

In reply to KevinK. Thank you, KevinK for bringing the AAII numbers to my attention. That goes along with the massive record breaking short positioning in S&P futures by large speculators indicated in the Commitment of Traders report. I’m now reading that even some of the macro forecasts aren’t indicating a recession or credit cycle downturn until 2024, or late Q4 of this year at the earliest. But whatever happens, I just hope I can follow the simplest of signals that happen on the charts, and stop trying to get my trade ideas from videos from a guy who makes money from making videos.

By: KevinK

KevinK — Sun, 04 Jun 2023 05:16:57 +0000

In reply to KevinK.

Bearish sentiment still way too high.
AAII Sentiment Survey has…… 29.1 Bulls…..36,8 Bears.
Until the Bullishness catches up, I think the trend will still be up.

By: KevinK

KevinK — Sun, 04 Jun 2023 04:48:16 +0000

In reply to Jeff Vandenburgh. Wouldn't it have been nice to be in TQQQ or FNGU since October

By: KevinK

KevinK — Sun, 04 Jun 2023 04:30:05 +0000

In reply to Jeff Vandenburgh.

Excellent observation and charts,
From a longer term investing standpoint and in hindsight it was a no brainer to go long, NOT looking at microtrends to short.
It still looks like we should be long, especially with the indexes solidly above their 20 week moving averages.
With the nasdaq up 7 out of the last 8 weeks, I wouldn’t be surprised to see a pullback, but that may be the time to go long.

By: Ahmar1977

Ahmar1977 — Sun, 04 Jun 2023 04:18:05 +0000

In reply to Scott. How can someone join?

By: Jeff Vandenburgh

Jeff Vandenburgh — Sat, 03 Jun 2023 19:23:51 +0000

For anyone following Randy’s style of trading, you should have bought QQQ sometime soon after the October ’22 lows and still be riding the trend upward, as clearly shown by the larger bullish divergences shown on the daily and weekly charts. Why anyone would tweek out on hourly charts and look for minor divergences on those shorter-term charts when the longer-term charts are clearly showing a big trend reversal is ridiculous and shows a complete lack of discipline and respect for one’s own process.

By: 1111GhettoSpread1111

1111GhettoSpread1111 — Sat, 03 Jun 2023 02:14:20 +0000

In reply to ghetto2000. There’s another Ghetto?! Wad up big homie!

By: Scott

Scott — Fri, 02 Jun 2023 23:43:28 +0000

In reply to Scott. This is new number is as of last Tuesday (if that matters). The S&P didn't break out until today.