Oil was holding the trendline today. This may be a sign that markets are finding some support. It will be important to watch Oil to see how it interacts at this trendline. Daily
I'll wait for the virus to multiply before I get back into volatility. The 50 day average for UVXY is still down so conditions not ripe just yet. Needs a little time. Warming up.
SPX will claw it's way back up in December Santa rally, but the character of the market has changed. It's becoming more active, wider ranges. A trader's market and a lot more fun!
The reason we had selloff yesterday is because it's a creepy crawler feeling of disgust. People are disgusted by the virus on their doorknobs and hands and don't buy stock. The buyers dried up.
This is different than last year. Last year it was a panic. That was the fear of death which is a stronger emotion and thus was a waterfall.
DIDI the China ride sharing company that China demanded to delist from the US is agreeing to delist from the NYSE. It and other China stocks like BABA, PDD and BIDU are sinking.
SPX today near my 4,500 targeted level.
ReplyDeleteOil actually held quite well today. GUSH the oil shares were pulled down even though Oil held.
ReplyDeleteGUSH of $75 I would be interested
ReplyDelete"White House unveils nine-point plan to combat Covid this winter"
ReplyDeleteWell, let's see. Without looking at the plan I can guess one thing that is on it: Get the jab, get the booster.
DeleteAnd one thing that is not on it but should be on it: Distribute 4000 unit Vitamin D capsules to everyone.
or stop eating so much, the obese and old are 91% of deaths...Americans are walking elephants, just look a picture of 1970 beach scene with today....
DeleteExactly right unfortunately
DeleteXBI getting close, it is starting to get oversold.
ReplyDeleteif they don't fill the 95 gap it will languish and make you believe while taking your money....
DeleteI'll wait for the virus to multiply before I get back into volatility. The 50 day average for UVXY is still down so conditions not ripe just yet. Needs a little time. Warming up.
ReplyDeleteBought OCGN $5.96.
ReplyDeleteAs it comes down to $5 plan to add
DeleteOPEC meeting today...
ReplyDeleteSold DRIP $6.16.
ReplyDeleteAre you interested in getting back into DWAC, after you sold all your shares yesterday?
ReplyDeleteI am interested and it may be good already but maybe I'll wait a few days.
DeleteThe market is gonna rip higher
ReplyDeleteTomorrow likely another positive day.
DeleteHi Lou, Do you expect Santa rally as SC does? What's your forecast the rest of month?
DeleteXLF an BA are the rally, its a short covering rally of nothing....more banker tricks...
ReplyDeleteSPX will claw it's way back up in December Santa rally, but the character of the market has changed. It's becoming more active, wider ranges. A trader's market and a lot more fun!
ReplyDeleteClimb the wall of worry SPX as the rogue virus seeds the country.
ReplyDeleteThe reason we had selloff yesterday is because it's a creepy crawler feeling of disgust. People are disgusted by the virus on their doorknobs and hands and don't buy stock. The buyers dried up.
ReplyDeleteThis is different than last year. Last year it was a panic. That was the fear of death which is a stronger emotion and thus was a waterfall.
I'm not convinced a bottom is in. It's most often marked by exhaustion candles.
ReplyDeleteGood point!
DeleteDIDI the China ride sharing company that China demanded to delist from the US is agreeing to delist from the NYSE. It and other China stocks like BABA, PDD and BIDU are sinking.
ReplyDeleteChinese stocks listed in the US are based on a VIE structure. They do not own any real equity in the actual Chinese companies.
ReplyDeletesc,
ReplyDeleteMonthly support is 4500 (4995)if we close below the level today---the monthly support for December --will change to SPX 4230
That is one hell of a ride--Lets see what it does at the end of day
sc,
ReplyDeletedid UVXY pass the golden cross -----looks toppy here!
Bought DWAC $42.00.
ReplyDeletelooking for DWAC---44???
ReplyDelete$48
DeleteVIX finally got the golden cross. Also looks like bull pennant forming.
ReplyDeleteVIX 45 possible?
Yes agree
DeleteChinese stock I've thought they could announce to delist all of them. Could result in massive gap down for Chinese stocks.
ReplyDeleteit also killed a lot of Technology companies
ReplyDeletevix ---goes to 45---where does UVXY go to?
give me a range???
$50
Delete"WHO says Covid omicron variant detected in 38 countries, early data suggests it’s more contagious than delta"
ReplyDeleteUh oh
ReplyDeleteWASHINGTON, Dec 3 (Reuters) - "A hoarse-sounding President Joe Biden said on Friday he has a cold, possibly contracted from a grandson."
Bought UVXY $25.00.
ReplyDeleteNew chart posted!
ReplyDeletesc
ReplyDeleteI have been buying UVXY since 14 going in and out ---now at 25 --there is a buy on it---Understandable!