Above $283, rally resumes! New ATH eventually
Should have got in on Fastly. Up big again today!
I am eyeing PelotonâŚ
DDOG is also good.
I worried Peloton follows GoPro route with their specialized market and get saturated.
Haha. I tried that yesterday and took a bit of loss, then realized negative stimulus news doesnât matter as much anymore. I think market is pricing in a massive one with democrats winning the election. Ended up flipping and buying TQQQ aggressively for now.
There is a resistance around $142 Not selling mine, intend to ride till new ATH.
There are a few differences than GoPro. Key one is that Peloton is tied into a service that can be consumed with or without their hardware. They have room to expand into a large array of fitness offerings.
Broad based rally!
Hardly any red stocks.
So⌠no one expecting a correction anymore? Or the mousy one we got a month or so ago was it?
wave (3) of wave iii. Expect a consolidation (may be wave (4) or lower degree wave (iv)) around QQQ $288. Sharp declines i.e. wave two (generic label) has to wait, may be near election day. I expect a new ATH before election, then sell the f⌠news (doesnât matter who win), and then BUY BUY BUY.
This is start of earning season, market will boom and then show a correction/booming phase.
On any case, I am hoping my Magic Crystal will tell me the truth ahead.
âAssuming this pattern holds up, he thinks weâve got one last leg higher ⌠before this rally runs out of steam, possibly at the end of the week,â Cramer said.
âAssuming the Dow peaks in a few days and then we get that sharp decline,â Cramer said, âDeMark says there should be just enough time for his indicators to turn positive and identify a bottom right before the election.â
QQQ is not Dow. AAPL is one of the DOW, may be drag down by those shorting DOW.
Rally only lasts 3 more days?
If he is correct and assuming it applies to QQQ too. Then instead of impulse i-ii-iii-iv-v is corrective wave abc i.e. no wave iv and wave v. In this case, could decline below Sep low.
Anything can happen after earnings season is over! It is too difficult to predict at present.
[edit] now start of the earning season market falls, it can continue until election is over.
QQQ declines while many cloud computing and cybersecurity stocks (midcap to large cap) are roaring.
Feel like Mr Market is selling megacap tech
AMZN -0.73%
MSFT -0.76%
TSLA -0.24%
FB -0.91%
AAPL -0.02%
GOOG -1.44%
Oct 19th 1987 - market 20% crash
Oct 24th 1929 - market 30% crash
Oct ??th 2020 - ???!!!
Already had one 35% crash this year.
But, Market does not seem to go up, it is going down and down near election day. IMO, guess, it can break any day this week.
âŚinvestors wouldnât normally benefit by chasing soaring stocks that are trading at off-the-chart multiples to sales, such as Zoom and Snowflake.
Cramer said Zoom Video Communications, which is trading at about 50 times sales, and cloud company Snowflake, trading at about 100 times sales, are now worth owning.
Donât care just chase
Btw, he mentioned Singapore has wiped out Covid