Posted by fredsaid on 24th of Jan 2022 at 06:15 pm
Personally I don't think we're gonna be fully out of the woods
till next week, possibly with a retest of today's lows or a higher
low. Still think too many QQQs are at too high multiples for
this environment. Hoping we can get at least 2 green days
though. Maybe we bounce the rest of the week, then Russia
drops the bomb on the weekend for the tank early next week. I
was buying Mar SPY calls all the way down, every day till about
10am this morning when I decided it was enough - still down about
40% on my calls but was down like 70% at the lows today.
valuation, but when market sells, I don't think it matters, just
like to short high pe, no profit companies that drop like rocks,
need to wait for setups. I was "hoping" strong earnings will keep
the stocks up, no, in a sellers' market, everything sells. Every 5G
phone needs a qcom chip yet it tanks, amat, mu, wdc, tsm stellar
earnings, and many more with over 125% growth all tank, unlike last
year they would be flying high with these numbers, so funds just
sell, this is a weak market. I see no signs of a bottom, could have
a weak bounce, but that is it (I think). All funds are looking for
a reversal, this means there will be more downside coming, may be
not right now. If we get a 1 or 2 days rally, I will sell my spy
options. Down trend is the least resistant. RSX dropped and Biden
made a serious warning to Russia, but news induced drop won't last
long, yet because of the weak market I did not buy RUSL. Even
though oil inventory is tight, I think today's upside is more
related to news related to Russia, so I did not buy any. I "hope"
GDX will stay flat for the next few days, then a rise would be
perfect for the bull, if not, I will be out.
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Personally I don't think we're
Posted by fredsaid on 24th of Jan 2022 at 06:15 pm
Personally I don't think we're gonna be fully out of the woods till next week, possibly with a retest of today's lows or a higher low. Still think too many QQQs are at too high multiples for this environment. Hoping we can get at least 2 green days though. Maybe we bounce the rest of the week, then Russia drops the bomb on the weekend for the tank early next week. I was buying Mar SPY calls all the way down, every day till about 10am this morning when I decided it was enough - still down about 40% on my calls but was down like 70% at the lows today.
valuation, but when market sells,
Posted by sydney on 24th of Jan 2022 at 06:34 pm
valuation, but when market sells, I don't think it matters, just like to short high pe, no profit companies that drop like rocks, need to wait for setups. I was "hoping" strong earnings will keep the stocks up, no, in a sellers' market, everything sells. Every 5G phone needs a qcom chip yet it tanks, amat, mu, wdc, tsm stellar earnings, and many more with over 125% growth all tank, unlike last year they would be flying high with these numbers, so funds just sell, this is a weak market. I see no signs of a bottom, could have a weak bounce, but that is it (I think). All funds are looking for a reversal, this means there will be more downside coming, may be not right now. If we get a 1 or 2 days rally, I will sell my spy options. Down trend is the least resistant. RSX dropped and Biden made a serious warning to Russia, but news induced drop won't last long, yet because of the weak market I did not buy RUSL. Even though oil inventory is tight, I think today's upside is more related to news related to Russia, so I did not buy any. I "hope" GDX will stay flat for the next few days, then a rise would be perfect for the bull, if not, I will be out.