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10-07-2021, 11:57 AM | #11596 |
Politically Incorrect
Join Date: Feb 2009
Location: Scottsdale, AZ
Casino cash: $681110
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Still not sold on this market. So many negatives that still are over hanging this thing.
If they go away, the sky's the limit. I still think China still has one or two more shoes to drop that could derail this. Plus our government is more ****ed up than ever. With inflation still a big problem with ****ed up supply chain, not sure we bust higher quite yet.
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"The only difference between sex for free and sex for money is that sex for free costs you a WHOLE LOT more!" ~Redd Foxx~ "The men who drafted Patrick Mahomes" |
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10-07-2021, 11:59 AM | #11597 |
Politically Incorrect
Join Date: Feb 2009
Location: Scottsdale, AZ
Casino cash: $681110
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Plus energy shortage globally could spiral out of control heading into Winter. Lets hope its mild temps.
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"The only difference between sex for free and sex for money is that sex for free costs you a WHOLE LOT more!" ~Redd Foxx~ "The men who drafted Patrick Mahomes" |
Posts: 53,057
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10-07-2021, 01:45 PM | #11598 |
Supporter
Join Date: Feb 2005
Location: Olathe, Ks
Casino cash: $704127
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As expected we ran up to the 50 day SMA and are backing off. Today is looking like a classic reversal day. People most likely unloading today what they wish they unloaded 5 days ago. Doesn't mean we haven't set a short term bottom though.
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10-08-2021, 01:17 AM | #11599 | |
Supporter
Join Date: Apr 2007
Location: Scott City KS
Casino cash: $224734
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10-09-2021, 01:46 PM | #11600 |
Fish are scared of me
Join Date: Nov 2001
Casino cash: $-239523
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Bought 1K worth of PUGE on 10/4 and I'm up a little over 50% while most of the OTC market has been flat. Just watched a video someone did talking about the company and it was pretty impressive. Was thinking about taking profit Monday but now think I'll just hold it long. It's only .0137 now and the 52 week is .0001 -.0144 . Thats a hell of a run.
Not suggesting to buy but Lew likes runners to be brought up preferably before they run but hell you don't know until they move. No sense in bringing failures to the board, right. I think this one has more gas myself. |
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10-13-2021, 07:41 AM | #11601 | |||
Supporter
Join Date: Feb 2005
Location: Olathe, Ks
Casino cash: $704127
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Quote:
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However we could also be in a bit of a new trading range between 427-440 on the SPY. |
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10-13-2021, 07:53 AM | #11602 |
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Join Date: Jan 2009
Casino cash: $395743
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...is Pete rainman?
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10-13-2021, 08:02 AM | #11603 |
Mod Team
Join Date: Sep 2011
Location: Valley of the hot as ****
Casino cash: $-148100
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Pete is very smart about investing. His takes are great and I hope he continues to post here.
WHEN DOES AMC SQUEEZE?!?!! I CANT WAIT FOREVER!!! |
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10-13-2021, 08:26 AM | #11604 |
Supporter
Join Date: Feb 2005
Location: Olathe, Ks
Casino cash: $704127
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Well the sellers came in during the first hour and have taken us down so today is looking to end in the red right now. Still in good shape for a short term bottom as long as we don't see the bottom fall out in the next few days.
Talk today is that oil and inflation are peaking this week. We shall see. On another note, JPM killed it on earnings but their stock is getting routed along with the rest of the financial sector which has been one of the strong sectors recently. Apple is taking it on the chin today due to someone downgrading it, which means they want to buy it cheaper but the QQQ is doing better than the SPY overall which at least gives the impression we might be seeing some rotation and not a total sell off in stocks which lends itself to a possible short term bottom. |
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10-13-2021, 08:52 AM | #11605 |
Supporter
Join Date: Apr 2007
Location: Scott City KS
Casino cash: $224734
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Apple got downgraded?
Why on earth would Anyone downgrade Apple. |
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10-13-2021, 08:55 AM | #11606 |
Supporter
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Location: Olathe, Ks
Casino cash: $704127
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10-13-2021, 08:55 AM | #11607 |
Fish are scared of me
Join Date: Nov 2001
Casino cash: $-239523
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10-13-2021, 09:11 AM | #11608 |
Supporter
Join Date: Feb 2005
Location: Olathe, Ks
Casino cash: $704127
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I typically try to keep politics out of my investing but there are rare times when congress and\or the current Presidential Admin. can have significant impacts on the economy. We are in one of those rare times.
Excessively extended unemployment benefits from the Covid situation Cutting off our domestic oil production then begging OPEC to pump more oil Excessive spending at a time when labor and supply chains are strained Vaccination\Mask policies that impact consumer consumption and school attendance Some of those policies may well be justified but some are not. The mask\vax stuff is probably a necessary evil over all but the spending and energy policies are driving inflation. On top of that you have threats of tax hikes and future spending that normally would be "meh" in the eyes of Wall St. having an impact because of everything else going on. The Biden Admin. did probably the smartest thing they have done since taking office today in working to get our west coast ports open 24/7. Since trucking is one of the weakest links in the chain right now they need to reverse their policy on energy to get the costs of trucking down. You already have a driver shortage, you cannot dump higher fuel prices on top of that. We are very much entering a Carter-type era where we are seeing high inflation coupled with bad energy policy. Unfortunately, the near term answer is to curb spending, curb demand and drive people from their couch to the 11 million+ jobs that are out there, despite them not all being $150k paying jobs you work from home. The Fed has begun tapering which needed to happen years ago but was delayed due to Covid. That's the monetary side. The fiscal side needs to get their house in order. |
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10-13-2021, 09:36 AM | #11609 |
Veteran
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10-13-2021, 09:53 AM | #11610 |
Supporter
Join Date: Apr 2007
Location: Scott City KS
Casino cash: $224734
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Makes sense. I busted my phone and all they had in stock was this stupid mini. I feel like a gorilla trying to jack off a mouse.
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