Investing General Discussion

Shonuff

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SPY chart I am looking at now. Next week is going to be very important. Either buyers are coming in to pick us up, or we can really open up to some continued downside. Notice today's sell volume was the highest we have seen since July 19th. Also to note, this is the furthest we have broken down outside of the ascending support macro trend line from March of this year.

Just some bigger market observations. Be cautious picking up longs. Know what you own and have a game plan if we see further downside.

View attachment 373115
Pretty much what the Chartmaster says. And no, he's not perfect, but we'll see if the trendline stays broken or not, and its something to watch closely.

Would def be careful and if you are trading, stop it out according to volatility.

I'm shorting as a hedge right now.
 
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Fogel

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I'd becareful shorting aapl around this level, there's a big volume shelf at 145. I'd only short if it drops below 145 and is rejected on the retest.

 

Sanrith Descartes

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Shorting AAPL...

Yannick Bisson Reaction GIF by Murdoch Mysteries
 

Sanrith Descartes

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I'd becareful shorting aapl around this level, there's a big volume shelf at 145. I'd only short if it drops below 145 and is rejected on the retest.


The other thing to consider aside from charting is the possibility AAPL randomly announces a 50 gazillion dollar share buyback. Look at MSFT. $60b buyback. That is just an insane amount and AAPL can easily surpass it if they choose.
 
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Shonuff

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Shorting AAPL...

Yannick Bisson Reaction GIF by Murdoch Mysteries
No one is afraid of shorting Apple right now. Bears have seized onto the Epic lawsuit and last product show. Look at the chart, shorts have been feasting. This stock is going to have a hard time moving up anytime soon.


 
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Sanrith Descartes

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No one is afraid of shorting Apple right now. Bears have seized onto the Epic lawsuit and last product show. Look at the chart, shorts have been feasting. This stock is going to have a hard time moving up anytime soon.


I hope you are right. I would love to buy some more at a deep discount.
 

Sanrith Descartes

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Apple's profit margin for services is 70%...maybe hardware will be 30 (or less) with all the inflation issues.
They have this rabid fan base. Not just individuals but corporations too. I don't like their shit personally but gazillion swear by it so that's why I own them.
 

Khane

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All of Apple's products are incredibly inferior, but by god did Steve Jobs create a cult with masterful marketing techniques.

iPhones are truly garbage compared to the plethora of much better Android phones out there. People actually yell at me for ruining their text chains because I have an Android, because it changes the color of their texts when someone without an iPhone is on them. What kind of a shit product doesn't work "correctly" unless everyone else is also using that same exact product?

Imagine if your emails didn't format or send correctly unless every one of your recipients was also using the same exact email product. It's absurd.
 
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Tmac

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All of Apple's products are incredibly inferior, but by god did Steve Jobs create a cult with masterful marketing techniques.

iPhones are truly garbage compared to the plethora of much better Android phones out there. People actually yell at me for ruining their text chains because I have an Android, because it changes the color of their texts when someone without an iPhone is on them. What kind of a shit product doesn't work "correctly" unless everyone else is also using that same exact product?

Imagine if your emails didn't format or send correctly unless every one of your recipients was also using the same exact email product. It's absurd.

A smart person who knows how to maintain market share.

Nobody wants to be a green text poor.
 
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Sanrith Descartes

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Nasdaq Futures down nearly 1%, as is the S&P Futures (since they are basically the same at the top), DJIA Futures down about 40 basis points.

My guess is the driver is the Senate Parliamentarian ruling the the immigration/citizenship stuff cant be passed in the budget bill via reconciliation and Manchin re-iterating he is a no on the current version of the 3.5T "infrastructure" bill.
 
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Borzak

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Nasdaq Futures down nearly 1%, as is the S&P Futures (since they are basically the same at the top), DJIA Futures down about 40 basis points.

My guess is the driver is the Senate Parliamentarian ruling the the immigration/citizenship stuff cant be passed in the budget bill via reconciliation and Manchin re-iterating he is a no on the current version of the 3.5T "infrastructure" bill.

Yeah I just looked, all the indexes down, oil down, the only thing green currently just glancing is the Vix at >20 lol.
 

Blazin

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Waking up seeing red



Should be a fun week, it is kind of funny looking at individual names and realizing just how little they are down compared to just a few months ago. I hope this builds some but still realize we'd have to drop to SPY 380-400 to get anything even approaching an actual good price. We are far more likely to just get a "slightly less sucky" price
 
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Shonuff

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Glad I shorted at 6PM on Friday, after I heard Cramer in a total panick hinting to short. My entire portfolio is in the green. Looks like this will be a week where the shorts feast.
 
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Sanrith Descartes

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This is "nearly" all be driven by the impending implosion of Evergrande and the collateral damage to follow. Luckily the majority of individual companies have zero exposure to this shit and are being sold off with everything else. Find those quality companies with zero exposure and buy the fear.

"The company has been struggling to raise fresh funding and pay its lenders and suppliers as the liability bill stands at over $300 billion."

 
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Sanrith Descartes

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I am not going to throw a bunch of charts up but here are some stocks I have been stalking and may be grabbing today.

UPS - 200 DMA $185 (pre-market $186)
VZ - 52-low $53.83 (pre-market $53.96)
JPM - Intermediate support line at $153 / 200 DMA at $149 (pre-market $152.80)
LMT - Intermediate support line at $338 (pre-market $336)
MA - Intermediate support line at $336 (Pre-market at $335.50)
V - Intermediate support line at $208 (pre-market $217)
 
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