Here's my cartoon lookin trend lines I found the easiest way to do this on an Android is with the damn photo editor app (if anyone knows a better app id love to give it a try)
August market preview per Ryan Detrick- August Preview: This Is One Historically Bearish Month Posted by lplresearch As we noted in You Are Here two weeks ago, seasonality is something to be very aware of – as history has shown, many of the worst market drops tend to take place over the next two months. With the S&P 500 Index officially more than a year since its last 5% correction, the longest streak in 22 years, and more than nine months without so much as a 3% correction, the calendar becomes even more noteworthy. Per Ryan Detrick, Senior Market Strategist, “This has been a great year for equities so far, but can the bull buck the tricky month of August? Think of this, since 1980, only August and September have sported negative returns on average and August has been the worst month of the year twice out of the past four years. Even during the great run of ’13, August was the worst month of the year losing more than three percent.” Let’s get one thing straight, we would use any pullback as an opportunity to add to positions. Overall, earnings are strong globally, central banks are still accommodative, and inflation remains low. But trees don’t grow forever and markets are rarely ever this calm for this long, especially as the economic cycle ages. Last, note that when August is down, it is really down. According to Ryan Detrick, “Maybe it is the back to school blues, but since 1980, there is no month with a worse average return when it is lower than August. Look at the recent history of August: 2015 was the China currency issues and a 1,000 Dow drop, 2011 had the U.S. debt downgrade, 2010 saw a big drop as worries over the global economy spread, 1997 and 1998 both saw big drops in August over the “Asian Contagion” and the implosion of Long-Term Capital Management (LTCM). Oh, and Iraq invaded Kuwait in 1990. Pick a reason why these big, out of the blue events happen in August. Bottom line is they do and we should be ready ought it happen again.”
not that this has any significance or any meaning at all because it's pretty much the most meaningless # of all imo but now we see if the dj30 can cross 22k for the first time ... been flirting with it a few times today ... my guess is if it does cross today it would happen during the last hour of the day ... we'll see what else you guys watching today? aapl reporting after the close today should be an interesting one
Trying to chip away at the honey do list on my day off... Just peaking in, i see financials leading the market... And Citi Group printing a 52H
Interestingly both the financials and utilities are doing well today, one loves higher interest rates and another loves lower interest rates Crude back down again after getting over $50, and we will see if we get a late push to get the DOW over 22K, BA has been a monster after earnings and has lifted the DOW
27 handles away from 22K and we are about to enter the final hour of trading day, your guess could be right on the money
or it could do the 'teaser' like dow 20k did ... remember that? took a good 3 weeks (or was it a full month? i can't remember off the top of my head) until it finally printed that was some good drama! i guess 20k was a big deal for some because it was the first time we had a 20-handle ... but 22k? zzzz's
Had a great day with that RDFN bump on my RH day trading account. Just kept moving my stop up higher and higher!
Exciting news for me, TDA officially approved my tier 2 options application today... Now i have to put my money where my mouth is Speaking of money, ill be spending the next week in West Texas for work.... There's nothing out there BUT money $$$.... Don't know if the area im headed has decent cell signal or not, so if ya don't hear from me, thats why
Somewhere around Pecos... Ive been out there before, several years ago, know there's AT&T signal all down the i10 corridor, but once you get too far off the highway, dead zone
Im use to that... cant drink the water out here either Damn gas wells!.... then again, those gas wells pay for my water.. and everything else!
I plan to go long 1 /vx future starting tomorrow and then go short 10 VIX in the money puts. Maybe $16.00. This should help counter any down moves in the /vx but any large down moves/corrections, in the markets and I should make a killing with a maximum loss of about 4,000. on the VIX side (But that loss won't come without a gain on the /vx side). I expect a pullback this month. If not, then next month. And if not august or sept, then I'm all in for Oct with SPX puts.
markets feeling kind of heavy here ... if not for aapl i wonder where things would be ... kind of deceiving to see the dj30 positive while the rest of the overall market (particularly the naz) continues to come off