Very impressive! I believe the small caps index closed at a new ATH for the 5th day in a row today? Last time that happened was in Feb. of 2015. Transports looks like it has its eyes set on 10K ... only about +1% away now
Tomorrow is month & quarter end ... historically this day has been quite squirrely over the years, especially for Q3. Will we see some end of quarter window dressing? Or dare I say ... a little selloff? Here's a look at the major indices as of close today. It's been yet another strong month and quarter for the indices absent any major selloff tomorrow.
Pretty happy with ROKU today, wish I would've played it as well in the contests. Been very happy with the IPOs recently.
it could have been an ATH party across the board today, but looks like NKE is dragging the DJ30 lower again i'm interested to see what happens in this final hour ... do we ramp it up even higher into the close, or selloff? or just stay flat. also i just got a quick question for everyone in here as we're closing out Q3 on another strong note today -- is anyone even just slightly concerned that the markets haven't pulled back meaningfully all year? and by meaningfully i mean a minimum -3% pullback for the SPX from the highs. we haven't seen one in nearly 11 months now. the markets have just been so bloody bullish all year, and it really seems like nothing can stop this rally ... but i sometime start feeling really cautious when it seems like everyone and their cousins think no downside is coming for the markets which it certainly feels like as of late. it is really amazing to me how little volatility we have seen in this market all year long. i just wonder what will be the straw that breaks the camels back if you will ... nothing goes up forever ... albeit it sure has felt like that in 2017 i've been in this gig (off and on) for over a decade now and never a remember a year in the markets quite like this one where there was no real meaningful pullback during the entire trading year. october is historically a volatile month, i guess we'll see if we finally see a pick up or if it's just more of the same as we have been seeing all year long. thoughts?
Algos gone wild. There's sectors of the market that have pulled back, but the index just keeps going up. Any -1% dip is a BTD. If you're going to stock pick, you have to be careful. For instance AMD is just hanging on the 200 ma, AMZN (which newspeople would have you believe is taking over everything in the economy) is getting pushed down to the 200 ma. But if you're in the indexes, you don't need to worry about a dip. They're just rotating everything underneath the surface, and slowly pushing the market up. Rotations happen so quickly now, with algos running some momentum strategies. The only way we'll get a 3% or 5% pullback is if it happens in one day, which is why I felt cautious on Wednesday. And if that day comes, it will be BTFD day.
I was shorting NKE in the daily contest yesterday, I was a day early I am concerned that no meaningful pullback has happened at all for sure. The hope for tax reform probably is keeping a floor in this market IMO though, so I am still thinking this market will be grinding higher into end of the year
Yeah they just keep rotating, sometimes it is the banks leading sometimes it is energy or whatever, right now they just keep finding things to buy to prevent any meaningful pullback from happening. Buying the indexes or the ETFs lately probably make you more money if you aren't picking the right stocks to buy
Trump interviewed Jerome Powell for Fed chair position, DJ reports https://www.cnbc.com/amp/2017/09/29...powell-for-fed-chair-position-dj-reports.html Anyone knows this guy is a dove or a hawk?
BREAKING: President Trump says he will made Fed chair decision in next 2-3 weeks https://mobile.twitter.com/CNBC/status/913848831485317128 Ok we could have some drama coming up especially if a hawk is elected as the next FED chair