Everyone loves to watch movies at Christmas. Price cascaded lower once AMC broke the blue trendline. However, AMC could have a couple good weeks. Weekly
AMC bounced off the top of the January weekly candle. Some support. $20 would have been good for a trade. But, I'm thinking AMC may want to retrace that big green May candle all the way to about $15.
Some preliminary statements that the virus is spreading. Still very early. Not a concern yet. Ok to continue to trade to the long side for weeks to come. Market will shrug this off for now.
"Omicron is spreading faster than any other Covid variant, WHO warns"
Omicron could be a blessing. If it's more infectious, we will likely all get it. And if it's also less lethal, then most will have mild symptoms like a bad cold or no symptoms at all. If that turns out to be the case, then we would all end up with naturally acquired immunity which is far superior to what you get from the experimental injections. Get your Vit D level checked. If below 50, take 5000 or more daily until it's above 50. Study showed that Vit D level above 50 ng/ml gives you a near zero chance of being hospitalized (or dying) from covid. Zinc is good to take if/when you get sick.
Yes, estimate into year end possibly into January. There are very specific details that I am watching in a Cycle. When they complete then the volatility will begin. We already know the reason is Omicron and we are waiting for the setup to mature.
I'll give plenty of notice before it happens. About a week before I will know and start to position.
XBI, LABU, OCGN nice reversals today. They are looking better. It's not necessary to chase though. You'll likely have another chance at a good entry next week.
"Dec 16 (Reuters) - A panel of outside advisers to the U.S. Centers for Disease Control and Prevention on Thursday voted to recommend Americans choose to receive one of the other two authorized COVID-19 vaccines over Johnson & Johnson's (JNJ.N) shot, due to rare but sometimes fatal cases of blood clotting."
The meme stocks went out of favor in June, but what we are seeing is that meme's are coming back into favor. Some are better than others. Some won't recover.
AMC is perhaps the best of the group. Movies appeal to almost everyone. It's a big market. Much more so than Gamestop - smaller market.
SC, I will gladly say congratulations on your calls this week. Your suggestions, plant the seed, and we are all fully capable of making our decisions to act on the advice. Thank you for this wonderful blog !!! Happy Holidays & Merry Christmas to everyone who celebrates this time of the year. To others, may peace and joy always be a part of your life.
Unlikely. 4,305 SPX is a good downside target for 2022. Assuming we see a bit higher, for example, 4,805 SPX then we can see a 500 point drop for 2022.
"While delta remains the dominant variant in the U.S., omicron cases are projected to double every couple of days or so. On Tuesday, the Centers for Disease Control and Prevention said omicron made up about 3% of cases sequenced in the U.S. The Covid positivity rate in New York City doubled from 3.9% on Dec. 9 to 7.8% on Dec. 12, officials there reported Thursday."
Possibly one more week to hit a low in AMC.
ReplyDeleteI bought this bottom in market
ReplyDeleteSPX close to filling that gap, agree it's close to a low. Next week may be perfect time to pick up the bargains.
Deletesold UVXY---I will look to reload after fed meeting tomorrow!
ReplyDeletesmall profit
ReplyDeleteNicely done! Not much volatility yet, but we are getting there.
DeleteSc what do think of labu
ReplyDeleteXBI and LABU waiting for lower low.
DeleteSold AMC $24.05.
ReplyDeleteI decided to wait for Next week AMC.
ReplyDeleteAMC bounced off the top of the January weekly candle. Some support. $20 would have been good for a trade. But, I'm thinking AMC may want to retrace that big green May candle all the way to about $15.
ReplyDeleteIt pays to have patience in these situations...
ReplyDeleteTweaked the AMC chart, and posted to Twitter with price targets.
ReplyDeleteI don twitter---just give us the price targets!
ReplyDelete$15 important AMC support. Monthly 50 moving average.
DeleteSc what is Twitter handle
ReplyDelete@Cyclicalanalyst
DeleteSc market making new highs next year. For xbi to go up
ReplyDeleteXBI 50 monthly moving average is $102
DeleteSome preliminary statements that the virus is spreading. Still very early. Not a concern yet. Ok to continue to trade to the long side for weeks to come. Market will shrug this off for now.
ReplyDelete"Omicron is spreading faster than any other Covid variant, WHO warns"
Omicron could be a blessing. If it's more infectious, we will likely all get it. And if it's also less lethal, then most will have mild symptoms like a bad cold or no symptoms at all. If that turns out to be the case, then we would all end up with naturally acquired immunity which is far superior to what you get from the experimental injections. Get your Vit D level checked. If below 50, take 5000 or more daily until it's above 50. Study showed that Vit D level above 50 ng/ml gives you a near zero chance of being hospitalized (or dying) from covid. Zinc is good to take if/when you get sick.
DeleteThank you! I suspect they will announce it is deadly in 2022.
DeleteAlso agree with you. Stay healthy my friend.
DeleteSo we have our reason for volatility now we wait for the timing.
ReplyDeleteIn the meantime while we are waiting there are other trades to make.
ReplyDeletesC: do you see a rebound from today until 22 - 27 december and than a big drop? is this your thougth? many thanks..
ReplyDeleteYes, estimate into year end possibly into January. There are very specific details that I am watching in a Cycle. When they complete then the volatility will begin. We already know the reason is Omicron and we are waiting for the setup to mature.
DeleteI'll give plenty of notice before it happens. About a week before I will know and start to position.
amc---worth taken a small position
ReplyDeleteSc gush 81
ReplyDeleteare you buying????
ReplyDeleteDWAC looking good again for next pop. 50 day average has appeared now and provides support. Also bouncing at the 50 rsi.
ReplyDeleteDWAC up in a down market. That's strength.
sc,
ReplyDeletelooking 60?
Yes DWAC probably over $60 pullback to maybe $45 or $50 and up to $80.
DeleteThere's not enough action in Oil right now to justify doing much more there yet. Next year.
ReplyDeleteVolatility more in focus.
ReplyDeletesc,
ReplyDeleteuvxy-------back under 15----is that a buy????
Not yet
DeleteBoom there's that bull move!
ReplyDeletewhen do you think is a good price?
ReplyDeleteUVXY may get another little bounce next week, but $10 or under.
DeleteWeeks of time to work with before we get positioned.
DeleteOCGN looks good to maybe $7
ReplyDeletesc,
ReplyDeletestarter position ---end of day--I am looking 6.50 tomorrow
I had a good week
This is setting up beautifully according to the plan. We're going to have a lot of fun with this market next.
Deletesc
ReplyDeleteUVXY----maybe 12 to 13 ---SPX 4750------but 10 ----your looking--- SPX--4800
$10 UVXY was the same number right before the Covid hit last year. Assume it'll be close to this.
DeleteSo you expecting the same UVXY move from $10 to $120 also? ....Vix to 80 or more muted?
DeleteSimilar at the beginning but more muted this time.
DeleteWhat is your target for uvxy?
DeleteThere's a $20 gap on UVXY.
Deletesc,
ReplyDeletethat makes sense!
Yes the Omicron is mimicking the original Covid move.
DeleteXBI, LABU, OCGN nice reversals today. They are looking better. It's not necessary to chase though. You'll likely have another chance at a good entry next week.
ReplyDeleteOr month end...
DeleteOmicron 3% of covid cases in US. Still time as it spreads.
ReplyDeletesc,
ReplyDeleteThis is oldie but a good one--
When Santa does not call---the Bear shows up on Broad and Wall
We should test Spx---4600 by early next week
Broad and Wall, I like that!
DeleteCiti Tells New York, New Jersey Staffers to Work From Home Again
ReplyDeletemeaning Citi---banK
ReplyDeleteBought DWAC $51.00.
ReplyDeleteSPX ready to test the 4,750 high
ReplyDeleteSanta might need a couple more reindeer lol
ReplyDeleteThere we go! DWAC lift, a Christmas miracle
ReplyDelete
ReplyDeletesc,
you could be right---bought calls to protect todays gains
I think pop into next week but then sell off Year End.
Deletesc do you see again 4750 before sell off on year end? Many thanks
DeleteYes looking likely
DeleteNYC Covid Rise Called ‘Alarming’; U.K. Hits Record: Virus Update
ReplyDeleteHere We Go Again: NYC Shows Canceled, Cases Rise, Offices Empty
ReplyDeleteupdated 24 minutes ago
Yes, covid fear rising.
DeleteDWAC 50 day average heading up, and putting tremendous upward pressure on the price.
ReplyDeleteSPX is the same. Even though SPX is heavy the 50 day is there pushing it.
ReplyDeleteFauci getting going again, thriving
ReplyDeleteJohnson and Johnson is out!
ReplyDelete"Dec 16 (Reuters) - A panel of outside advisers to the U.S. Centers for Disease Control and Prevention on Thursday voted to recommend Americans choose to receive one of the other two authorized COVID-19 vaccines over Johnson & Johnson's (JNJ.N) shot, due to rare but sometimes fatal cases of blood clotting."
sc,
ReplyDeleteMonday---it will bottom---bought calls on gush here
SPX wanted to come test the 50 day average.
ReplyDeleteXbi bounced again
ReplyDeleteSc xbi bounced again, does not look it wants to come to 103
ReplyDeleteDoes not look it will hit 103
ReplyDeleteXBI having a good bounce I agree. Maybe later though test that level.
DeleteAMC running!
ReplyDeleteBiotech has to be close to a turn up and they are bouncing quite well. XBI $107 was strong, LABU.
ReplyDelete"Double bottom"
DeleteLows likely in now for XBI AND LABU. They didn't even dip this morning.
ReplyDeleteAny XBI upside targets before EOY?
DeleteXBI $125 though maybe not in time for Year End. $120
Delete125 is good target, resistance above this area is not as strong...122 will be bit of slugfest..
DeleteXAIR, ACAD and AXSM
VXRT, OCGN, AVXL
SPX a whole lotta movement and not going anywhere lol
ReplyDeleteAMC was the best idea for this week.
ReplyDeleteYea but you sold it and said buy back next week at 15 possible.
ReplyDeleteYes took the profit, I still might do something with it next week
Deletesc,
ReplyDeleteIts Christmas---Let him have his moment!
Happy Holidays to everyone!
Happy Holidays, all the best Dunn!!!
DeleteJust about every meme stock up in a down market. What's up ?
ReplyDeleteThe meme stocks went out of favor in June, but what we are seeing is that meme's are coming back into favor. Some are better than others. Some won't recover.
ReplyDeleteAMC is perhaps the best of the group. Movies appeal to almost everyone. It's a big market. Much more so than Gamestop - smaller market.
SC, I will gladly say congratulations on your calls this week. Your suggestions, plant the seed, and we are all fully capable of making our decisions to act on the advice. Thank you for this wonderful blog !!! Happy Holidays & Merry Christmas to everyone who celebrates this time of the year. To others, may peace and joy always be a part of your life.
ReplyDeleteThank you very much for the kinds words and holiday wishes!! 2022 will be our best year ever! I say this every year hahaha
DeleteI think there will be still a chance to get AMC $23 to $25.
ReplyDeleteWeekly chart hasn't even budged with today's move in AMC.
DeleteI'm working on other AMC charts
ReplyDeleteThankyou, Have quite a bit in this stock.
ReplyDeleteShort term target and another major target have been identified. You're gonna like this next chart.
DeleteAMC up 19% today and up 6% on the week! Take notice, impressive strength in this stock!!
ReplyDeleteOCGN spiking over $6 after hours.
ReplyDeleteSC... will spx dip below 4000 next year?
ReplyDeleteUnlikely. 4,305 SPX is a good downside target for 2022. Assuming we see a bit higher, for example, 4,805 SPX then we can see a 500 point drop for 2022.
DeleteSo a very tight range for 2022 then ?
DeleteWell it looks volatile as I will explain below, but true.
Delete"While delta remains the dominant variant in the U.S., omicron cases are projected to double every couple of days or so. On Tuesday, the Centers for Disease Control and Prevention said omicron made up about 3% of cases sequenced in the U.S. The Covid positivity rate in New York City doubled from 3.9% on Dec. 9 to 7.8% on Dec. 12, officials there reported Thursday."
ReplyDeleteOmicron doubling every couple days, but the count is still relatively low at 3% of cases.
ReplyDelete