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The push up leading to the overnight pullback was strong so probably the pullback would be bought again.
Gap up above the yesterday's high, trend day possible, either up or down.
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Today's pivot, Yesterday's high is the line. buyers need to bid up and up, a trade lower will indicate a failed auction. it will be fast down trend. let roll the dice.
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“Sen. Sherrod Brown, chairman of the Senate Banking Committee, is taking aim at three banking giants' ties to Archegos Capital after the fund's recent losses blitzed the market. The Ohio Democrat made inquiries in letters to Goldman Sachs (GS), Nomura (NMR) and Credit Suisse (CS). [CNBC, today]
I posted a DOMINO cockroach link on Tuesday night.
Rather than a second cockroach, zh opined that these events are piling up, pointing to a classic, systemic leverage breaking point: the Robinhood blowup, the Melvin Capital collapse, the Greensill implosion in Europe, the Archegos explosion … “all idiosyncratic, NOT.”
[Pasta: Don’t forget zh finds a “breaking point” every day]
Disclaimer: I am not an investment advisor. This is just my opinion NOT investment advice.
Pasta Boss- going to be good money converting office buildings into residential condos and rentals.
Thanks for the update on the Senate taking an interest in the latest banking failure. It once again proves that they ( the regulators and legislators) are fighting the last war. A point others have made is that this tiger fund was not big enough to get a Fed bailout the way Citadel did in 2019.
Breakout would be more likely if bulls are able to touch the blue line above so bias is a little bit up.
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Trades w 2 Cats wrote:Pasta Boss- going to be good money converting office buildings into residential condos and rentals.
Thanks for the update on the Senate taking an interest in the latest banking failure. It once again proves that they ( the regulators and legislators) are fighting the last war. A point others have made is that this tiger fund was not big enough to get a Fed bailout the way Citadel did in 2019.
Disclaimer: I am not an investment advisor. This is just my opinion NOT investment advice.
Semis (bottom panel) broke out from a megaphone-tilted-down, as the odds predicted
Now a descending triangle predicts a fresh high (yellow boxes)
15min
Disclaimer: I am not an investment advisor. This is just my opinion NOT investment advice.
TRIVIA:
DRILLING DOWN ON SEMICONDUCTORS:
SMH is 1x and SOXL is 3x
SMH tracks the overall performance of the 25 largest, U.S. listed companies that produce semiconductors, a crucial component of modern computing. This fund is equally split between giant, large, and mid cap size companies, offering a well-balanced risk/return profile. Given its shallow portfolio, SMH is inherently top-heavy; the top ten holdings account for over two-thirds of total assets [actually it’s 60%].
SMH Top ten: TSM (14% weight; all the others are in the 4-6% range), NVDA, ASML, INTC, AMAT, MU, AVGO, TXN, NXPI, LRCX
The whole portfolio (25 holdings) is 73% U.S. companies.
Expense ratio 0.35%
[source: VanEck, the issuer]
SOXL offers 3x daily long leverage to the PHLX Semiconductor Index [$SOX], making it a powerful tool for investors with a bullish short-term outlook for semiconductor equities. Investors should note that SOXL's leverage resets on a daily basis.
Top twenty holdings: ADI, AMAT, ASML, AVGO, BRKS, CCMP, CREE, ENTG, IPHI, INTC, KLAC, LRCX, LSCC, MRVL [!!!], MCHP, MU, MKSI, MPWR, NVDA, NXPI [with a ton of swaps on the above stocks]
Expense ratio 0.96% [too high, but TQQQ and SQQQ are also 0.95% and folks love them]
[source: Direxion, the issuer]
Disclaimer: I am not an investment advisor. This is just my opinion NOT investment advice.