.
You can go contrarian 
to his view if you think his view is consistently wrong. Anyhoo, last Friday just before close I bot some TQQQs. Closed few moments ago when it touched the green line… slightly too early, QQQ shot above that line but now is trading slightly below my selling price.
Below is what I think (you can go contrarian ), SPY is in wave (2) - countertrend - retracing bearish impulse wave (1). I have no idea when wave (2) would be completed… monitoring the price action.
It’s up a little because the Fed said they will finally raise rates in 2023. This bounce may not last.
I think the best chance for the dollar and the markets is gridlock in Washington. If 6 trillion in new spending is added to the already industry-killing avalanche of regulations who knows.
Enjoy fighting Captain Powell and the Big Bad Fed?
.
tweet in Panda blog. He is bullish about DJI now. Short his view?
.
4400 is not that high. One of the possible count that I have posted. Nothing bold about it. Unless you are referring to end Jun… have not watch the video yet.
End of this month means end of June. Did you lose track of time by constantly gazing at the stars for astrological clues?
Selectively quote me? Told you that you can quote me but not my name.
By name jillhkg, do not think it is me. I know pros and cons of Master Wu, and how much he can do…Poor guy, manually (laboriously) trying to visualize the market which works sometime, but not always.
Many people lack conceptual understanding and they burn normally. Market will not fall when trillions (reverse repo - source money market funds waiting for crash !) in cash sidelines and never fell in the past with similar instances. Market will go up and down with narrow range killing all puts/calls and making money during this period.
.
Long puts/calls. Short puts are ok. Have been making some doles shorting AAPL and MU puts.
Individual stocks are ok too e.g. SHOP, NVDA and CRWD have made ATHs.
Some promising ones that I have are U, ZM and FSLY… Regrettably, didn’t pump a lot into PLTR and DOCU… Pump a lot into TDOC which is still red…
very well said. Market does not fall if/when everyone is expecting and waiting for it to fall
.
Obviously not true. If everyone is expecting it to fall, who is buying to bring it up? Ghosts? Gods? Goblins? Anyway, I think @Jil said it is volatile, killing both bears and bulls alike which is what Panda said too. Only good day/ swing traders + good stock pickers make money in this market.
Similar question is also applicable: If everyone is keeping cash, who is selling to bring it down? Everyone sold stocks at peak price and keeping it in money market now (RR).
Reverse repo: Basically they are money market funds siting in sidelines from fear of market correction. Even JPM openly commented 500 B cash on sidelines, they are unable to bring down the market !
Current RR holding are historic sky high, multi-decade high at 755 Bln ($791 daily yesterday) daily volume (few trillions overall). Since the day Reverse repo created, market hold same or going up when reverse repo is filled high.
See how reverse repo is filled.
https://imgur.com/OKkgGAO
.
That is obviously not true. Who are holding stocks now? Ghosts? Gods? Goblins?
Use of the word, “everyone”, is rubbish. Obviously is not everyone. So who is everyone in the context of that statement.
As usual waste of time, useless arguments…
.
Nowadays so sensitive. Anyway, everyone is not the right word. Frankly, every time I read about common sayings, I don’t understand what they mean. All? who is all? everyone? who is everyone? Obviously whoever say it the first time know who they are but the people who later repeat it doesn’t know. Well, I don’t know. I only know it has been repeated by so many people and articles.
Above is just an example. I don’t fully understand most of the common sayings. The implicit assumptions are not explicitly explained anywhere.
Didn’t you say there is a consensus among technicians market will go down soon? Perhaps you can make your statement more precise there.
Don’t know why people would short a market where there is so much fear around.
.
Sure? I also say things change very fast. Whatever is said is correct at the time of it being uttered. One second might change.
Panda is now bullish.
Changing so fast that you forgot what you said a week ago?
