Today's Market 3/7-13

True, as this tech correction. See QQQ is touching deep 38.2% correction (not 50% correction) with closing around 301.75.

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I see the danger with SPY still, it can go down tomorrow if market is in same condition…Deep hit possible.

Dollar up. Yield up. Even non tech recovery stocks ATH. FANGs still very high. Every rip in growth stocks are being sold. Very little reaction to stimulus. Even cathie wood said fed unlikely to control the bond yield and never have.

There are some massive swings now in individual names. I’m too much of a chicken to take a swing now. :exploding_head:

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QQQ has come to 38.2% fib point. QQQ touches support point at 300 level many times and bounce back.

If both QQQ and SPY closes negative, this is likely final leg, my take is market turns positive tomorrow.

Cool, Both SPY and QQQ is closing negative, good sign to go positive tomorrow. Let me see…

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Retail bros got diamond hands.

https://pbs.twimg.com/media/Ev6EAi5WYAQ7E8J.jpg

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i didnot know she overloaded on Square and Shopify in addition to Tesla. I will let you know whats wrong here in few days.

The tsunami of spending after everything reopens around Memorial Day will be EPIC. Like a super compressed spring ready to explode.

:rocket:

US consumers continue to cut back on their credit card balances. Revolving credit is down almost 12% from the same time last year – a record drop.

Put option volume continues to climb. Bottoming soon.

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These three stocks are the future. All in top 9 position.

TSLA - Number 1
SQ - Number 3
SHOP - Number 6

Today, I bought 1 share each of SQ and SHOP. That is, started accumulation… min target $50k for each ticker. TSLA is not low enough yet :wink: Ditto for TDOC.

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Diamond hands!

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Invested $3M in GME at $26?

He doubled down at $38.

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Institutional investors taking their cue from the bond market are swapping tech and growth stocks in their holdings for cyclical and value names, and retail investors can’t afford to ignore it, Cramer said.

Don’t be in denial. Accept the sell off, raise cash, work through the five stages!

No worries, I have cash stand-by :slight_smile:

Cramer suggested a one-day decline of as much as 7% in stocks could fast-track the market to the acceptance stage of grief, “where there’s a collective sense that the market’s toast.”

Now, I am clear market turns positive from here (actually both S&P and DOW turned last Thursday and Nasdaq only went down today from bottom)

QQQ also bottomed on Thursday.

TSLA gains more than TQQQ?

Only TWST is higher :wink:

Sold my puny QQQ calls for 4x :roll_eyes: too puny of significance, just for :joy_cat:
Holding some longer term QQQ calls - double already, bot yesterday.

Even PTON is higher. Currently up 15%.

Mr Market mood changes so FAST?

This could be important.

That’s despite the national team going in…

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Market is smarter than me. Faster than me.

Exactly. Very fast. I learn EW trying to anticipate his move still couldn’t move faster than market responds to change. Wait… how can I be faster than market if what I do is anticipate his move? Learn Kung Fu?

Leadership of the companies are smarter than me.

Talking about FA is thinking you’re smarter than the leadership of the companies.

He favors ZM :slight_smile: PYPL :slight_smile: All the obvious ones! He is doing the right thing, @wuqijun also doing similar thing, add if too low and not try to sell at market top and then buy at market low.

I have been seeing my doctor using ZM :slight_smile: