02/04/20220 Live Update

[Cobra]

It's an uptrend day so far but as I said, probably the up room is limited as it's already gaped up huge so I'll just sit and watch. It looks like the market has decided that the virus is nothing we can forget about it.

[JFR]

ES daily. Up through the EMA 20 and the trendline. Can't keep this market down.

[JFR]

ES 5. Testing the resistance line.

[JFR]

ES, NQ, YM and RTY. Gap up overnight. "Stun Gun" as one stock market guru would say. Gap up and no go. NQ trying to move up.

[JFR]

NQ 5 minute. Up to the pivot and the resistance line.

[Al_Dente]

QQQ hit an ATH today
(per stockcharts; your numbers may vary)

[JFR]

A sea of green on the Dow 30. MSFT, AAPL, CAT and NKE leading the way. Mickey D, MCD, trailing.

[Trades with cats]

Futures Trader 71 ultimate target for today was ES 3303. Bingo!
Bottom line was PBoC releasing what, 300 billion or something crazy like that today and then the Fed limited out at 60 billion on the overnight repo. As we have all heard too many times liquidity is the mothers milk of the market. My personal problem is central bank liquidity injections are a drug and the withdrawal is really ugly as we saw last year.

[JFR]

I ordered a "hamburger, fries and diet coke" at a McDonald's the other day. They asked what kind of hamburger. Gheeezus. Bun and meat, I said. They were not sure what to do. OK, I said, add some cheese. They finally figured it out. They probably made it a special order. Ha ha.

[Trades with cats]

Smart guys on twitter were saying Tesla is now the prime mover of the QQQ's, so when it is over, watch out.

[Cobra]

Members only update at 12:00 pm
http://www.cobrasmarketview.com/2020/02 ... ay-update/

[JFR]

ES 5. Down to the trendline. Riding it.

[Al_Dente]

Smart guys on twitter were saying Tesla is now the prime mover of the QQQ's, so when it is over, watch out.

TSLA's weight in the QQQ is 1.53%
Compared, say, to AAPL which is 11.67% weight

https://www.invesco.com/us/financial-pr ... ticker=QQQ

[Heck]

Having fun today just playing puts on TSLA small amounts, this thing could get halted its all over the place

How is the implied volatility on those puts doing?

Up 20% while the stock has moved 50 points or so the other direction... no complaints just insane implied vol, when it moves 100 points in 20 mins then I guess that will happen.

TSLA Target + 187 %
From 833.88 to 2391.54

[Trades with cats]

Within mainland China, oil demand has dried up by 20 per cent, Bloomberg reported, amid a freeze in travel, while metal prices have plunged on consecutive days since markets reopened on Monday, a sign of expected weak demand in key industrial sectors.

https://www.scmp.com/economy/china-econ ... ufacturers

(South China Morning Post- scmp.com)

[JFR]

Safe to hold a garden variety bond ETF, such as TLT? Nope. Choppy as hell, aside from a nice move up in January. Gonna dump it and stay with the higher yield bond ETFs.

[K447]

Smart guys on twitter were saying Tesla is now the prime mover of the QQQ's, so when it is over, watch out.

TSLA's weight in the QQQ is 1.53%
Compared, say, to AAPL which is 11.67% weight
...

Stock prices are determined by earnings per share, multiplied by a variable number called 'sentiment'

TSLA in this moment seems to have significant effects in terms of 'sentiment'


Short squeeze too

[Al_Dente]

last ten days
here are some of the heaviest-weighted TECH stocks
compared to TSLA in red

[K447]

Having fun today just playing puts on TSLA small amounts, this thing could get halted its all over the place

How is the implied volatility on those puts doing?

Up 20% while the stock has moved 50 points or so the other direction... no complaints just insane implied vol, when it moves 100 points in 20 mins then I guess that will happen.

TSLA Target + 187 %
From 833.88 to 2391.54

How would you get a target number with any real accuracy?

[JFR]

ES 5. Hammer down, to the EMA 20.