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Rangoth

Rangoth

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Blazin Blazin ...do you think we are going to rocket down more now that we are almost breaking your box?

My current plan is that I believe we will continue to drop until the converging 30/50 DMA of about 548/546. My intention is to hold until then and basically be ready to sell on a bounce up or ride to the next support down of 535.

Thoughts from our resident market gods? I am having a good year(from all I've learned here and some new strategies) but I don't want to become the hog Sanrith Descartes Sanrith Descartes so often talks about.

1725390697961.png


EDIT: I wrote 148/146, meant 548/546
 
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Sanrith Descartes

Sanrith Descartes

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GOOGL touching the 200-DMA. Held my nose and took an entry position. If it finds support here and bounces I'm happy. If it fails and falls Ill add later.
Currently its current PE (22.4) is about 10% lower than its historical average PE of 24.8

edit: Almost 6 million shares traded in that last green candle.

1725393681210.png
 
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Sanrith Descartes

Sanrith Descartes

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Funny how this drops after the market close. I wonder how many shares Pelosi sold today before this was public. Shit drops 10% hours before the news goes public and I'm sure there was no insider trading.

 
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Blazin

Blazin

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Sanrith Descartes said:
Funny how this drops after the market close. I wonder how many shares Pelosi sold today before this was public. Shit drops 10% hours before the news goes public and I'm sure there was no insider trading.

Click to expand...

if market was green today the news wouldn't even move the stock. Maybe a pt or two in the AH that would just creep back up. It's easy to pretend things matter when things are red.
 
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T

Tirant

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Dang that’s pretty blatant.
Channeled my inner Araysar and day traded a $500 gain on Dell today. Feel pretty good to offset the massive drop in my overall portfolio by a tiny percent haha.
 
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Blazin

Blazin

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Rangoth said:
Blazin Blazin ...do you think we are going to rocket down more now that we are almost breaking your box?

My current plan is that I believe we will continue to drop until the converging 30/50 DMA of about 548/546. My intention is to hold until then and basically be ready to sell on a bounce up or ride to the next support down of 535.

Thoughts from our resident market gods? I am having a good year(from all I've learned here and some new strategies) but I don't want to become the hog Sanrith Descartes Sanrith Descartes so often talks about.

View attachment 544298

EDIT: I wrote 148/146, meant 548/546
Click to expand...
SPY chart looks better than the NASDAQ as far as there being further downside. Today was not a good look for the bulls, the failure to set a new high increases the probability we have more downside probing to do. I made no buys today.

I like SPY $536-540 for a bounce play
 
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C

Creslin

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anti Trust action against these big guys isn’t really big news unless there is some actual teeth to it.

Also blazin joining the mega bears 🐻 at spy 440? Assuming you mean 540!
 
Rangoth

Rangoth

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Wow, your prediction is *much* lower than mine. You have it blowing past the 100DMA even at 535? I guess that means you believe, or think we may be starting, the full correction cycle?

I anticipated this as a small bounce test until we start converging all the DMA's more.
 
Sanrith Descartes

Sanrith Descartes

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Blazin said:
if market was green today the news wouldn't even move the stock. Maybe a pt or two in the AH that would just creep back up. It's easy to pretend things matter when things are red.
Click to expand...
You sir, need to leave my conspiracy theories alone. Sometimes it's all we have to hold on to.

Ps.. down another point and a half after hours.
 
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Rangoth

Rangoth

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Arden said:
Blazin typo has people freaking tf out lol
Click to expand...

lol, indeed. So our resident market god is predicting the current 100DMA as well. I think it may bounce of the 30/50 first and maybe never reach the 100, but I agree that's about as low as we'll get for now barring some world event.

I plan on selling my puts as we near the 100DMA or if we get stuck on the 30/50. I will take the proceeds from that sale and convert them to a C back at the resistance line(550ish). I tend to go 3+ months out with the SPY option plays to give myself some room but if this goes well I could make 40k on each side of the swing.
 
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