05/31/2023 Live Update

[Cobra]

It's the very first test of EMA20 today so could attract some sellers which could also be their last chances for today.

[JFR]

It's everywhere. just pick it up.

Money.jpg (4.21 KiB) Viewed 5907 times

Drug money? Good luck with that.

Years ago I read about a guy on a bus with 3 large suitcases. He was sweating, and actually died of a heart attack right there. It was later revealed to be about $10 million dollars he had with him. Would anyone take a suitcase, just on speculation, if you thought you could get away with it? Ha ha.

Not worth it.

On the stock market? Sure. It's an open, legal game.

I think Rogers' point is similar to what Buffett said: As an investor, wait like Ted Williams, the great baseball hitter, for a perfect pitch.

[Cobra]

Members only update at 12:05 pm
http://www.cobrasmarketview.com/2023/05 ... ay-update/

[Al_Dente]

AVGO
[BROADCOM EARNINGS TOMORROW, after the close]

[BullBear52x]

My red line, if there will be more down tomorrow, this is the level to close under today.

[BullBear52x]

Momentum side of thing: there is no positive D, sell the rips or roll down will be my play.

[jademann]

https://schrts.co/EXtuPrcj

Right in the middle. 50/50 punt

[Al_Dente]

ROSIE:
[This is a week old]
“No question that we have a price bubble,” the Rosenberg Research president told CNBC’s “Fast Money” on Thursday.
https://www.cnbc.com/2023/05/25/price-b ... nberg.html

[BullBear52x]

ROSIE:
[This is a week old]
“No question that we have a price bubble,” the Rosenberg Research president told CNBC’s “Fast Money” on Thursday.
https://www.cnbc.com/2023/05/25/price-b ... nberg.html

Did you just posted about David Rosenberg on no bubble, don't confuse me boss.

[Ratbastrd]

TQQQ.
Be a player on TQQQ or QQQ? Well, I believe I have to be, when and if it resumes its upward trend. But with a quick finger on the exit button, and more focused towards day trading than swing trading.

2 penny response.

Found this chart (see below) on Twitter yesterday. Took me a bit to process this. MY takeaway is that the big 8 (you know who they are), have effectively become defensive plays at this point.

That being said, If you bullish and believe markets are heading north, then the bet is on rotation, meaning IWM or SPY

If you are bearish and believe that tech is the only game in town (ie: the new defensive play)(bearish), again I think IWM and SPY are the better short opportunities.

The big 8 are all VERY expensive here, but are growing revs. I wouldn't want to short, but if I owned and was in the money I wouldn't want to sell.

The one caveat is semi's. I'm currently short the semi's with a large position. This whole AI thing is massively overblown, anticipating a miss by AVGO tomorrow and a big draw down.

[Al_Dente]

JUST IN: Total credit card debt in the US has officially crossed $1 trillion for the first time in history.
This comes as average interest rates on credit card debt have hit a record high of 25%.
The average American family now holds $10,000 in credit card debt, another record.
Nearly 40% of Americans now have more credit card debt than savings.
Americans continue to "fight" inflation with credit card debt.
[The Kobeissi Letter]

[JFR]

TQQQ.
Be a player on TQQQ or QQQ? Well, I believe I have to be, when and if it resumes its upward trend. But with a quick finger on the exit button, and more focused towards day trading than swing trading.

2 penny response.

Found this chart (see below) on Twitter yesterday. Took me a bit to process this. MY takeaway is that the big 8 (you know who they are), have effectively become defensive plays at this point.

That being said, If you bullish and believe markets are heading north, then the bet is on rotation, meaning IWM or SPY

If you are bearish and believe that tech is the only game in town (ie: the new defensive play)(bearish), again I think IWM and SPY are the better short opportunities.

The big 8 are all VERY expensive here, but are growing revs. I wouldn't want to short, but if I owned and was in the money I wouldn't want to sell.

The one caveat is semi's. I'm currently short the semi's with a large position. This whole AI thing is massively overblown, anticipating a miss by AVGO tomorrow and a big draw down.

The attachment 20230530_205327.png is no longer available

Points well made. Thanks.

Reading the charts ...

DIA IWM SPY not good in May.

QQQ hella good in May.

Those are ETFs I watch everyday. If they are not running well, there are other places to look. Stocks. Dividends. REITs. There is almost always something to play.

Just in my opinion.

[JFR]

Alternative markets.

Recent moves.

Prefer long? SPYG and UUP are up recently.

Taking a break ...

[BullBear52x]

Entering swing sell rips setup.

[BullBear52x]

Will there be the money in the corner somewhere to pick up?

[Serenity]

In my opinion this market is ready for sector rotation. As some people buying and investing on techs, Semi sectors, the musical chairs rotating from smart money players to retail traders. Those sectors that beat up really good start moving on by smart money while retail traders are holding oversold priced sectors.
Q3 starts July 1st-Sept 30th. Some seasonal stocks will move from Mid June-till Mid-Aug. As each sectors start gradually moving till the end of year, we see $SPX moving to higher.
For Example, AZO dropped by $500 in past 15 days, it is not a bad company. I am not sure if I want to buy any stocks that reached to max of the techical indicators on the chart for now.
This is just my personal opinion and observation , not advice for trading.

[BullBear52x]

New box, you know the drill from here. Peace!

[Serenity]

Another Bubble burst, AVGO.from $921 to $790.

[Cobra]

Consolidation, this market really wants to go up.

[Daniel]

Anyone else having to transition from TD Ameritrade to Schwab today. I guess I'll have to figure out a new screen setup and how things work!

The forced transition is hitting clients on a rolling basis. It hasn't gotten to my account yet.

Thx to AD for the sample Schwab chart.