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04/06/2021 Live Update

PostPosted: Tue Apr 06, 2021 8:31 am
by Cobra
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The pullback overnight probably will be bought.

Small gap, within the yesterday's range so probably it's just a range day.

Re: 04/06/2021 Live Update

PostPosted: Tue Apr 06, 2021 8:59 am
by JFR
SPY 15, extended hours. Quiet overnight.


2021-04-06_05-58-20.png

Re: 04/06/2021 Live Update

PostPosted: Tue Apr 06, 2021 9:40 am
by Trades w 2 Cats
Lost count on number of times 4063 has been touched since euro zone opened. :lol: :lol:

Re: 04/06/2021 Live Update

PostPosted: Tue Apr 06, 2021 9:59 am
by Cobra

Re: 04/06/2021 Live Update

PostPosted: Tue Apr 06, 2021 10:21 am
by Trades w 2 Cats
4071 holding like a rock wall. problem so is 4074.

Re: 04/06/2021 Live Update

PostPosted: Tue Apr 06, 2021 10:27 am
by Mr. BachNut
BachNut is on the road so won't blather on today...

NYMO cycle is confirmed up.
Rally has been gap-o-licious.
So, next downdraft could be interesting with all the gap target potentials.

I am long SPX and R2K
Three profit units have been scaled on SPX, but only one on R2K.
Prior R2K short was breakeven stopped.
I am a little concerned about the R2K position, just not showing the exuberance of SPX.
Sounds dumb, but something that can't manage to go up inevitably decides to go down.
We shall see.

NYMO 040621.jpg

Re: 04/06/2021 Live Update

PostPosted: Tue Apr 06, 2021 11:06 am
by JFR
SPY 5. "All's quiet ... " A little bit of chop on some bars, but going nowhere.


2021-04-06_08-05-59.png

Re: 04/06/2021 Live Update

PostPosted: Tue Apr 06, 2021 11:21 am
by Trades w 2 Cats
Going into euro zone close. Expecting this to open up a break-out, just don't know which way.

Re: 04/06/2021 Live Update

PostPosted: Tue Apr 06, 2021 12:16 pm
by Cobra

Re: 04/06/2021 Live Update

PostPosted: Tue Apr 06, 2021 1:07 pm
by Trades w 2 Cats
Moment of truth here at 4069

Re: 04/06/2021 Live Update

PostPosted: Tue Apr 06, 2021 1:23 pm
by Al_Dente
“Credit Suisse Takes $4.7 Billion Hit on Archegos Meltdown” [WSJ]
Here’s an explainer, using ViacomCBS (VIAC):
https://www.youtube.com/watch?v=kDRVyFqht9k

Re: 04/06/2021 Live Update

PostPosted: Tue Apr 06, 2021 1:48 pm
by Cobra
Maybe the range low was in? Just feel I must say something so that you know I'm awake. I have no clue what the market is doing.

Re: 04/06/2021 Live Update

PostPosted: Tue Apr 06, 2021 1:57 pm
by Al_Dente
they dumped semiconductors, now trying to bounce with qqq

Re: 04/06/2021 Live Update

PostPosted: Tue Apr 06, 2021 2:24 pm
by Al_Dente
And just like that, semis (which are in short supply, long demand mode), filled one gap and printed a lower low.
Now a megaphone-tilted-down pattern, which favors a bullish breakout 72% of the time.
15min
46soxl.png.jpg

Re: 04/06/2021 Live Update

PostPosted: Tue Apr 06, 2021 2:42 pm
by JFR
Various markets. IAU and TLT doing the best. UUP down.


2021-04-06_11-40-20.png

Re: 04/06/2021 Live Update

PostPosted: Tue Apr 06, 2021 3:13 pm
by Trades w 2 Cats
Pasta Boss, $4 billion is a pretty good hit. Da Bozy on the internet are asking how many other but smaller situations are out there. They are predicting SEC and Fed will demand better disclosures and a couple of minor hedge funds will be lined up against a wall and shot very publicly.

When his prayer partner Kathy Woods and her ARK funds blow up I think they will be too big to fail and she will get some sort of Fed bail out. You saw where she re-wrote her docs allowing highly concentrated positions (same basic strategy).

Re: 04/06/2021 Live Update

PostPosted: Tue Apr 06, 2021 3:33 pm
by Al_Dente
Trades w 2 Cats wrote:Pasta Boss, $4 billion is a pretty good hit. Da Bozy on the internet are asking how many other but smaller situations are out there. They are predicting SEC and Fed will demand better disclosures and a couple of minor hedge funds will be lined up against a wall and shot very publicly.
When his prayer partner Kathy Woods and her ARK funds blow up I think they will be too big to fail and she will get some sort of Fed bail out. You saw where she re-wrote her docs allowing highly concentrated positions (same basic strategy).

Yes, everyone is worried about rube-goldberg dominoes.
Because everyone is watching for this, the pain will inevitably come from elsewhere, you know, over there where we weren’t watching.
A lotta folks will get smacked upside the head (the bag-holders... us if we’re not careful).
Over on wallstreetbets folks are starting to talk about “why risk single stocks” and “why not just buy SPY or SPY options”.
Oy

Re: 04/06/2021 Live Update

PostPosted: Tue Apr 06, 2021 3:35 pm
by Cobra

Re: 04/06/2021 Live Update

PostPosted: Tue Apr 06, 2021 3:39 pm
by Trades w 2 Cats
Wall Street Bets- Ha Ha got two sons in law who grabbed some Nokia as a political statement. One told me he is thinking selling monthly covered calls for a year and a half will get him to break even. The other got asked by his dad (a retired London stock broker) what the hell that was doing in his account. :lol: :lol:

But hey we have all done similar things.

Re: 04/06/2021 Live Update

PostPosted: Tue Apr 06, 2021 3:49 pm
by Cobra