2017 Trading Thread - Page 52 - Business, Finances and Investing Forum

bah bitter because I missed my HOS entry, just haven't been able to be in front of a computer to trade well enough. Frustrating. It's like crack, when you can't do it anymore your body gets angry.

It's June, I've done almost nothing this year. Feels weird.

06-09-2017 , 01:11 PM

#1278

juan valdez

Pooh-Bah

Join Date: Jan 2009 Posts: 5,686

any thoughts on being short NVDA with the assumption that bitcoin is due for a nice drop?

06-09-2017 , 01:19 PM

#1279

ASAP17

Pooh-Bah

Join Date: May 2008 Posts: 5,882

Quote:

Originally Posted by juan valdez

any thoughts on being short NVDA with the assumption that bitcoin is due for a nice drop?

What does Bitcoin have to do with NVDA?

06-09-2017 , 01:21 PM

#1280

juan valdez

Pooh-Bah

Join Date: Jan 2009 Posts: 5,686

miners

06-09-2017 , 01:28 PM

#1281

ASAP17

Pooh-Bah

Join Date: May 2008 Posts: 5,882

Quote:

Originally Posted by juan valdez

miners

Has little or (more likely) nothing to do with the action in the stock on either side. Do not get involved if this is your thesis.

06-09-2017 , 01:53 PM

#1282

twelve yr old

old hand

Join Date: Nov 2009 Posts: 1,867

Quote:

Originally Posted by ASAP17

Has little or (more likely) nothing to do with the action in the stock on either side. Do not get involved if this is your thesis.

Yeah this was entirely too much too fast

06-09-2017 , 02:05 PM

#1283

ASAP17

Pooh-Bah

Join Date: May 2008 Posts: 5,882

Financials/energy/Biotech/small caps your leaders while tech gets taken to the woodshed. They totally flipped the script today. I'm definitely going to be buying a few names next week if it continues.

06-09-2017 , 02:11 PM

#1284

calmasahinducow

old hand

Join Date: Jan 2005 Posts: 1,807

Tooth, you picked the wrong index to buy puts on!

06-09-2017 , 02:28 PM

#1285

EZX

grinder

Join Date: May 2012 Posts: 526

This was an awful day for me think i have too much of an exposure to tech stocks

06-09-2017 , 02:52 PM

#1286

Onlydo2days

Carpal \'Tunnel

Join Date: Jun 2012 Posts: 19,305

pretty big reversal last few hours

Only thing I can come up with is that people are selling into the close incase this comey/ trump stuff picks up momentum over the weekend.

06-09-2017 , 02:57 PM

#1287

EZX

grinder

Join Date: May 2012 Posts: 526

The only thing that i am holding in the US markets that isn't crushing me today is GILD which is hilarious and sad in a way.

06-09-2017 , 03:01 PM

#1288

ASAP17

Pooh-Bah

Join Date: May 2008 Posts: 5,882

Quote:

Originally Posted by Onlydo2days

pretty big reversal last few hours

Only thing I can come up with is that people are selling into the close incase this comey/ trump stuff picks up momentum over the weekend.

Stop thinking this way please, Comey is why people are selling tech stocks and buying energy/banks/bio tech?

06-09-2017 , 03:06 PM

#1289

juan valdez

Pooh-Bah

Join Date: Jan 2009 Posts: 5,686

Quote:

Originally Posted by ASAP17

Has little or (more likely) nothing to do with the action in the stock on either side. Do not get involved if this is your thesis.

obviously this is in addition to the price extreme

Quote:

Originally Posted by ASAP17

Stop thinking this way please, Comey is why people are selling tech stocks and buying banks/bio tech?

yeah im seriously puzzled by the long tech traders. buy and hold, sure, ok. the risk/reward at these levels are insane though

it was interesting to see the russell lag well behind and the nasdaq keep climbing. then nasdaq stalled as the russell rallied. seems like the money was running out of places to go

im thinking this is part profit taking and the reality that the market cant rally forever. not saying this is definitely the start of a sustained downturn but these moves are bound to happen with sky high prices

06-09-2017 , 03:06 PM

#1290

ToothSayer

Carpal \'Tunnel

Join Date: Jul 2015 Posts: 13,237

Yeah, this is large money rotating out of positions. Who knows what into, or why (although big cap tech is certainly absurdly overvalued).

ECB and the Dodds Frank wind back stuff has given financials a huge boost and given the sellers a safe place to put their money. Ugly market otherwise.

Regardless, I hope everyone is having fun today

06-09-2017 , 03:29 PM

#1291

SenatorKevin

veteran

Join Date: May 2007 Posts: 2,905

LOL @ AMZN printing 930. Someone is out of a job this afternoon.

06-09-2017 , 03:30 PM

#1292

Smokey_The_Bear

old hand

Join Date: Jan 2009 Posts: 1,739

Quote:

Originally Posted by Smokey_The_Bear

Kinda feel like I shoulda waited til tomorrow/pushed the expiry to 6/16. Anyway, i'm bored and will stop posting now. Heading to WSOP for a couple weeks in a few days, felt like a little gamble before I gamble.

Really have enjoyed this thread the last 12 months, hope we can all pull some nice wins together soon.

Got out on the dip for only a 2/3 loss of investment. Guess i'll call that a win. lol.

Gonna buy a few more 6/23 expiry, Heading to vegas tonight, GL all! if you're in the Rio, i'll be the only white guy playing Big Easy, i'm sure. come say hi.

Last edited by Smokey_The_Bear; 06-09-2017 at 03:42 PM. Reason: Scratch that. Gonna wait for a better re-entry at this point.

06-09-2017 , 03:52 PM

#1293

wopbabalubop

banned

Join Date: Jul 2016 Posts: 610

Looking for steel to make a move higher with the Ross report on deck.

ALXN steadily climbing

06-09-2017 , 05:01 PM

#1294

ToothSayer

Carpal \'Tunnel

Join Date: Jul 2015 Posts: 13,237

Oh and here's your probable reason for the drop today on large cap tech. Goldman analyses still have a lot of power it seems.

https://seekingalpha.com/article/408...mageddon-looms

Quote:

I don't know if Goldman got up Friday morning with the intention to ruin anyone's weekend, but they certainly released a bombshell of a note today about the stocks that are responsible for 40% and 55% of the S&P (NYSEARCA:SPY) and Nasdaq's (NASDAQ:QQQ) YTD performance, respectively.

06-09-2017 , 05:18 PM

#1295

SenatorKevin

veteran

Join Date: May 2007 Posts: 2,905

Quote:

Originally Posted by ToothSayer

Oh and here's your probable reason for the drop today on large cap tech. Goldman analyses still have a lot of power it seems.

https://seekingalpha.com/article/408...mageddon-looms

So Goldman is buying then? They still have a 162 PT on FB, 1100 on GOOGL...

I feel like a lot of people who were balls to the wall long on a lot of these positions got flushed out today. RIP to half of /r/wallstreetbets. Other crazy momos got whacked too, FIZZ, TSLA, NVDA, AMD.

06-09-2017 , 05:21 PM

#1296

jb514

veteran

Join Date: Oct 2009 Posts: 2,837

Quote:

Originally Posted by ToothSayer

Oh and here's your probable reason for the drop today on large cap tech. Goldman analyses still have a lot of power it seems.

https://seekingalpha.com/article/408...mageddon-looms

People have been saying this for the past couple weeks. A lot of this seems technical. Tech has basically been straight up ytd so a washout doesn't really seem out of place

06-09-2017 , 05:29 PM

#1297

ASAP17

Pooh-Bah

Join Date: May 2008 Posts: 5,882

Quote:

Originally Posted by jb514

People have been saying this for the past couple weeks. A lot of this seems technical. Tech has basically been straight up ytd so a washout doesn't really seem out of place

There are 106k QQQ $140 calls in OI for next week's quad expiration, a lot of incentive to get it to this level.

06-09-2017 , 06:13 PM

#1298

MediocrePlayer2.0

Carpal \'Tunnel

Join Date: Jun 2012 Posts: 9,205

idgaf bought NVDA AAPL PCLN FB into the close .... latter 3 pulled into the 50d

bears can blow me

06-10-2017 , 07:29 AM

#1299

wil318466

banned

Join Date: Mar 2010 Posts: 19,154

For the last 2 years or so I've been wondering "how long can this last?" Maybe it'll be an interesting summer, we've gone on an 8 year run and I'm more nervous than ever right now.

I moved into cash a few days ago and decided to sit out the summer. The last time I did this I broke even, so let's see how this time around goes.