Investing General Discussion

Sanrith Descartes said:

Blazin thinking its about time to dump the LMT in my mom's account once it breaks above $390 and wait to circle back when it inevitably drops back under $340. Thoughts?

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I have soured on it, rocketdyne deal issues further solidifies. I think revenue growth next 5 years is just going to continue to be challenged. So yes selling at >$390 probably not a bad play. The chart has a setup for a break out into $400s but there is no catalyst other than geopolitical tension.

Zog said:

Market looks like a fucking penny stock.

I hate to keep posting as a bearish negative Nancy but a gap up like that can't possibly keep going... can it?

Id love to go long and stop worrying about the fucking massive swings down but this past 24 hours is insanely volatile and i can't imagine the big boy hedge funds won't fuck calls because that's just what they do.

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It's still in the range of the highs of last two days not really a gap up. And yes it could run a hell of a lot more than this. Look at a daily chart of QQQ and focus on 10/14 gap and go. I'm not saying it will but it absolutely should be in your expectations of possible outcomes.

Gap and go on 5/19/21 and on 3/30. It's the thing that usually happens on a bounce. Shorts get squeezed and FOMO can add further rocket fuel.

FYI I closed my QQQ position at the open. This is not a bearish call it's a risk issue for me and current financial situation but wanted to be open about trades. I'm building a house I'm paying cash for and in this case "playing with house money" takes on a whole new meaning.

Jysin said:

SPY into the 200D. I'd be shocked if we break over this before word from the Fed.

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We should find a level soon here to hang out and wait for 2pm. Kinda cool to watch as we are going to discover a bull/bear pivot point which very well might be the 200d