No we aren't. IT is the only weak sector. And the big players know how to screw with you reactionary traders even on IT. Meanwhile, the place to be was long commodity stocks or trading the clear range of the same. Not that some of you ever noticed but WTI went from $65 to $100 and I bet many of you didn't make a cent off that move.
By end of year it will be higher imo. How you address that is up to you. I owned it for a few days but IT was just too weak not to take the profit.
i think nobody knows where it will be or where the market will be at end of year. Too much uncertainty. But right now, the chart is ugly. I’ll get back into it at some point. I just think the stock will see some valuation compression before it starts up again.
Markets Friday displaying huge amounts of strength right across the board. Metals, energy, banking, technology, transport, utilities, healthcare, Europe, the whole gambit, but crypto not sooooo much.
An update from my perspective...... DOW, Nasdaq, S&P500, definitely in a major downturn, no bottom in sight. However there are plenty of bullish sectors not affected negatively. These being; Precious metals, gold, silver etc Aluminium Copper (Dr Copper not a market bellwether this time around) Mining in general Iron Ore Steel making Coal Oil Natural Gas Uranium Rare Earths Battery minerals, eg lithium, Nickel, cobalt, lead, zinc and other base metals etc Corn, wheat, rice etc Crypto may be bottoming Precious metals have been in doldrums for a couple of years and may have bottomed out. Saying that, a strong bullish move has not started yet, silver has been very weak and may just be recovering, still a little too early to tell. Semi conductors may have potential, they often get sucked in with the technology stocks sector which like Nasdaq has been hammered (only because they have run extemely hard and need a breather) but if you pick the semi's out, they are doing OK imo. Transport stocks getting hammered probably mainly due to price of fuel rising. Healthcare and Utilities not being negatively affected too much atm. Banks are getting hammered. Overall, I'm not overally bearish, plenty around to keep anyone optimistic.
I will repeat my post from January 28: The game has changed. The Fed is no longer pumping the markets. Instead of 'Buy the dip' the new mantra is 'Sell the rallies' When the Fed starts pumping again that will be the time to buy. But you can still try and play the dead cat bounces if you really want to.. It is a bear market, but the Market isn't making it easy for 'sell and hold' bears, lots of sharp bear market rallies and only a slow grind down when making new lows
It doesn't matter. He will say he played the inverse until noon and crushed it, and then played the non-inverses into and after the Fed and crushed it. He crushes it all the time. That's why you should pay 979 bux for his course. Because he made 979 bux the other day. Hell of a pricing strategy. You pay only what he won in a day. If he ever posts a losing day, say he lost 500 bux, will he pay us 500 bux each to join his room? Makes you wonder.