Stock Market, where’s the bottom?

[COCA COLA COWBOY]

This morning is a short lived rally that is already seeing the 8am resistance. Long haul, this market is going into a recession.

 

[Havasu blue label]

take your time airline stocks delta casino stocks Mgm and rrr

 

[shintoooo]

 

[Done-it-again]

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It works when you bought yesterday..... I have some that are 11% and 6% up.....

 

[shintoooo]

It works when you bought yesterday..... I have some that are 11% and 6% up.....

Absolutely. It's a day traders heaven. I love this market.

 

[pronstar]

You know what sucks is how this is going to affect so many peoples retirement plans. I have to think a lot of 401K and retirement accounts have lost half of their value over these past 3-4 months. Lots of people are going to have to delay their retirement or come out of retirement. I feel sorry for those people.

The US is relatively unique in that most folks have quite a bit of skin in the stock market game.

People in most other counties don’t - at least to the degree that they do here - so large dips in the market don’t directly affect them nearly to the degree that it does most Americans.

 

[MPHSystems]

I think it’s still got a ways to go before we hit bottom

I am working on my cash position to be ready to buy.

 

[CLdrinker]

Apple’s not going anywhere. I’m already paying $1000 a phone, and I’m sure $1200 will be my next. I don’t see any new technology, that’s going to make their products obsolete. Dollar cost average until the next model comes out.

Exactly Apple is not going away. They are working on something for the auto industry. Depending on what it is that will be a catalyst for it to move up.
If they actually build an Apple car. Shit.... sky is the limit.

 

[Member: 71]

Exactly Apple is not going away. They are working on something for the auto industry. Depending on what it is that will be a catalyst for it to move up.
If they actually build an Apple car. Shit.... sky is the limit.

Apple has money to burn. They want into auto industry bad, I predict they will buy out Tesla.









Disclaimer: Not a professional, gut feeling.... that has led me massive losses on weed stocks and crypto mining companies.

 

[shintoooo]

Fed Powell talks at 11am today. Let's see if he pumps the market or if he makes it crash. If he pumps it like last time, it will be time to buy puts.

 

[Fastdadtsmith]

Fed Powell talks at 11am today. Let's see if he pumps the market or if he makes it crash. If he pumps it like last time, it will be time to buy puts.

I think he has the uncanny ability to do both. I'm going with the first reaction is the wrong one.

 

[hallett21]

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This really is too good lol

 

[hallett21]

The WSB comments are pure gold

 

[regor]

 

[c_land]

My retirement account has turned into a 301(k)

 

[boatnam2]

Wow! another buying the dip day, who would of thunk?

 

[pronstar]

The bottom won’t happen until after the Fed liquidates it’s balance sheet

 

[shintoooo]

Costco will probably hit $380 after earnings next week if earnings are as bad as Target and Walmart. That will sink the market a lot. I think AAPL will go as low as $95 in the next 6 months.

 

[LargeOrangeFont]

The bottom won’t happen until after the Fed liquidates it’s balance sheet

This. Some of you guys have ADHD. This is gonna take 6 months to a year form this point.

 

[COCA COLA COWBOY]

I don't know, but I'm riding SQQQ down until probably September or November when there may be a bit of a swing.

 

[2Driver]

This. Some of you guys have ADHD. This is gonna take 6 months to a year form this point.

Yep, shit is just barley starting to hit the fan.

You search for good news on the horizon and there is zero. Supply chain getting worse, china lock down, Biden doing nothing about energy costs, Ukrainian war, 2.5 more years of this incompetent Administration and 5 more interest rate hikes and the starting of the unwinding the Fed Balance sheet.

I figure raising rates won’t stop supply chain inflation until they have literally killed the US economy. Only then will it be a good time to go shopping but you’ll probably be able to buy Muni Bonds or Treasuries for 7-8% by then too.


This is what I bought so far this week:
3 month T BIll
6 Month T bill
2- 12 month AZ muni’s

 

[ElAzul]

Costco will probably hit $380 after earnings next week if earnings are as bad as Target and Walmart. That will sink the market a lot. I think AAPL will go as low as $95 in the next 6 months.

I would love to buy Apple at $95 but it has been bucking the trend so far. Patience patience patience

If Apple takes a shit let's conference call Grads

 

[LargeOrangeFont]

I would love to buy Apple at $95 but it has been bucking the trend so far. Patience patience patience

If Apple takes a shit let's conference call Grads

LOL remember the last time AAPL dropped in 2019 he was inconsolable. You are all DOOMED, the economy is imploding!!

How about holding more than 1 position genius.

 

[regor]

 

[ElAzul]

LOL remember the last time AAPL dropped in 2019 he was inconsolable. You are all DOOMED, the economy is imploding!!

How about holding more than 1 position genius.

One of my fonder memories of Grad's

 

[ElAzul]

On the other side of investing I have been stacking platinum around $900 oz. as a small hedge. I think it's a good buy till gold drops.

 

[2Driver]

Days like this are good. It prepares people for the other ones that are coming.

 

[shintoooo]

I picked up some KSS (Kohl's) puts for tomorrow's earnings. I don't think they are going to have great earnings or projection for next quarter.

 

[shintoooo]

CSCO is imploding after hours. Down 17%.

 

[Singleton]

All discretionary retail is going to get hammered.
Margins will be down and forecast will be pulled in.

CSCO is imploding after hours. Down 17%.

 

[Gonefishin5555]

Cue up the Tom Petty song Freefalling.

 

[regor]

Time to pay the piper you off shoring China scumbags..................

 

[Looking Glass]

This"Administration, has made The "Climate" their #1 priority and everything they do is and will be determined by this Philosophy.

 

[SkyDirtWaterguy]

 

[regor]

https://twitter.com/i/web/status/1526998183888445443

 

[LargeOrangeFont]

CSCO is imploding after hours. Down 17%.

You mean COST? CSCO is Cisco.

That has been a brutal ride down for a month.

 

[hallett21]

You mean COST? CSCO is Cisco.

Cisco is imploding as well

 

[LargeOrangeFont]

Cisco is imploding as well

Truth. @shintoooo I see you did mean CSCO after all

 

[hallett21]

Truth. @shintoooo I see you did mean CSCO after all

Good to see you back lol

 

[hallett21]

I picked up some KSS (Kohl's) puts for tomorrow's earnings. I don't think they are going to have great earnings or projection for next quarter.

Already looking rough in AH

 

[shintoooo]

You mean COST? CSCO is Cisco.

That has been a brutal ride down for a month.

CSCO had terrible earnings and guidance after hours today. It's recovered a bit but still down 12%. https://finance.yahoo.com/quote/CSCO?p=CSCO

 

[LargeOrangeFont]

CSCO had terrible earnings and guidance after hours today. It's recovered a bit but still down 12%. https://finance.yahoo.com/quote/CSCO?p=CSCO

Yea I saw it after the 5% recovery.

This is my industry, and even before covid CSCO always had supply chain hiccups. and they are horrible to deal with. There is a is a lot of competition in their space and I don't feel like they have a complete vision.

 

[shintoooo]

Here’s some interesting info

 

[hallett21]

Asian markets down 2%

 

[Havasu blue label]

bad day

 

[shintoooo]

Futures are up right now because Shanghai reported that 90% of their ports are open but I think that’s gonna be short lived and we’ll be in the red tomorrow.

 

[c_land]

Futures are up right now because Shanghai reported that 90% of their ports are open but I think that’s gonna be short lived and we’ll be in the red tomorrow.

So a whole bunch of cargo ships headed here with inventory that costco, target, and Walmart don’t want anymore?

 

[shintoooo]

So a whole bunch of cargo ships headed here with inventory that costco, target, and Walmart don’t want anymore?

Lmao, yep.

What’s happening is Newbie investors who put all their stimulus money into the market and crypto and only saw it go up, up, up, and…..up are grasping for anything that they think will turn this market around. It’s not going to happen.

The feds are going to do anything and everything in their power to crush this market. Newbies will think that we’ve hit a bottom and start buying only to have the rug pulled out from under them.

Wash, rinse, repeat.

 

[Bowtiepower00]

@shintoooo has this shit figured out. Wish you did taxes in AZ. Lol.

 

[RiverDave]

Yep, shit is just barley starting to hit the fan.

You search for good news on the horizon and there is zero. Supply chain getting worse, china lock down, Biden doing nothing about energy costs, Ukrainian war, 2.5 more years of this incompetent Administration and 5 more interest rate hikes and the starting of the unwinding the Fed Balance sheet.

I figure raising rates won’t stop supply chain inflation until they have literally killed the US economy. Only then will it be a good time to go shopping but you’ll probably be able to buy Muni Bonds or Treasuries for 7-8% by then too.


This is what I bought so far this week:
3 month T BIll
6 Month T bill
2- 12 month AZ muni’s

Suddenly MRE’s are lookin like a hedge bet.. sold four pallets today with another three on the line..