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aTxTIGER Offline
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Post: #41
RE: DOW
Also, can we stop talking about the Dow Jones Industrial Average? Its a ****** metric that is just 30 stocks with a subjective weighting.

At least use the S&P 500.
02-05-2018 04:14 PM
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aTxTIGER Offline
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Post: #42
RE: DOW
BTW, I made money today so I'm gonna go drinking with the missus.

Those March VIX futures paid off today SAHN!!!!!!!!
02-05-2018 04:15 PM
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UofMstateU Offline
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Post: #43
RE: DOW
There's a couple of stocks in the dow that have increased more than doubled in the last year and still have, after this correction, a relatively high PE. Boeing is one.
(This post was last modified: 02-05-2018 04:19 PM by UofMstateU.)
02-05-2018 04:18 PM
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aTxTIGER Offline
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Post: #44
RE: DOW
(02-05-2018 04:18 PM)UofMstateU Wrote:  There's a couple of stocks in the dow that have increased more than doubled in the last year and still have, after this correction, a relatively high PE. Boeing is one.

Before this correction, Boeing was responsible almost 40% of the Dow's gains the last year. That's why the Dow is an idiotic metric.
02-05-2018 04:20 PM
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aTxTIGER Offline
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Post: #45
RE: DOW
Implied Vol of SPY options is over 40%. Over 100k 290 SPY March 16 Calls were bought today. Somebody is betting on a big rally over the next month or they have a huge Iron Condor being built.
02-05-2018 04:24 PM
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cb4029 Offline
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Post: #46
RE: DOW
The Trump market had the biggest one day point loss ever...ever.
02-05-2018 04:27 PM
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aTxTIGER Offline
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Post: #47
RE: DOW
On the bright side, there wasnt a flight to safety. the 10 year rate didnt climb....gold stays relatively calm.

There is a lot of cash on the sideline right now. Interested to see when and where that gets put to work. The next technical level is the 200 day moving average at 2535 in the SPX. That's 4% more down though.
02-05-2018 04:31 PM
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aTxTIGER Offline
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Post: #48
RE: DOW
BTW, hats off to Trip Advisor was up 3% today. The best SPX stock.
02-05-2018 04:32 PM
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Machiavelli Offline
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Post: #49
RE: DOW
Inflation is on our horizon which is not good for stocks. I’ve been saying this for a couple of weeks. At the end of this rainbow is inflation. We deficit spender to increase inflation. But the hi name was Seth Tich crowd doesn’t understand how dangerous that is.
02-05-2018 04:32 PM
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aTxTIGER Offline
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Post: #50
RE: DOW
(02-05-2018 04:32 PM)Machiavelli Wrote:  Inflation is on our horizon which is not good for stocks. I’ve been saying this for a couple of weeks. At the end of this rainbow is inflation. We deficit spender to increase inflation. But the hi name was Seth Tich crowd doesn’t understand how dangerous that is.

Inflation isn't as bad for stocks as much as the necessary monetary policy for inflation.......higher interest rates.

Higher 10 yr rates spooked the market on Friday and started this correction, however, the 10yr would need to be around 4.5% to really be a competitor for equities. still 170 basis points way from that.
02-05-2018 04:35 PM
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aTxTIGER Offline
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Post: #51
RE: DOW
The S&P is currently down another 1.25% in after hours trading.
02-05-2018 04:41 PM
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aTxTIGER Offline
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Post: #52
RE: DOW
NIKKEI is gonna open down 8% tonight. Tomorrow is gonna open down another 2% isnt it?
02-05-2018 04:43 PM
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UofMstateU Offline
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Post: #53
RE: DOW
I may need to get out there tonite and see what is oversold, or could potentially be oversold in the next couple of days.
02-05-2018 04:46 PM
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aTxTIGER Offline
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Post: #54
RE: DOW
(02-05-2018 04:46 PM)UofMstateU Wrote:  I may need to get out there tonite and see what is oversold, or could potentially be oversold in the next couple of days.

Yup. I would expect that we will flirt with that 2535 level. If it holds at the 200 day moving average, you are gonna see a bunch of bids come in and have a nice rally.

The P/E of the SPX has fallen from 18.5 to almost 17 since Thursday. There are deals out there.....

I'm interested to see what happens with GM tomorrow. The have earnings tomorrow which are rumored to be pretty good. They have been down almost 8% in last week.
02-05-2018 04:50 PM
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bullet Offline
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Post: #55
RE: DOW
(02-05-2018 03:35 PM)Redwingtom Wrote:  I guess the bottom line in all this is that the Dow still does not equal the economy.

Its psychology, not economics.
02-05-2018 05:00 PM
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aTxTIGER Offline
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Post: #56
RE: DOW
(02-05-2018 05:00 PM)bullet Wrote:  
(02-05-2018 03:35 PM)Redwingtom Wrote:  I guess the bottom line in all this is that the Dow still does not equal the economy.

Its psychology, not economics.

The Dow isnt even the stock market.
02-05-2018 05:02 PM
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aTxTIGER Offline
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Post: #57
RE: DOW
Wanna know why the DOW flash crashed down 1600 in 5 minutes? Some algo trader traded Boeing down 20 dollars in 3 minutes. What a buffoon. Started at 2:04 pm Central time.
(This post was last modified: 02-05-2018 05:08 PM by aTxTIGER.)
02-05-2018 05:07 PM
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arkstfan Away
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Post: #58
RE: DOW
(02-05-2018 03:27 PM)Redwingtom Wrote:  
(02-05-2018 03:26 PM)arkstfan Wrote:  Now only down 833 for the day.
Down 2000+ since Jan 26.

Market was over-heated. Still plenty of room left before I get nervous.

Yup. If you're not a day trader, this shouldn't send you to the ledge.

I had just done my quarterly rebalancing of my retirement account last week so guess I did some profit taking 04-rock
02-05-2018 05:09 PM
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Kittonhead Offline
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Post: #59
RE: DOW
This is day trader heaven. Day traders watch the charts and make plays based on the chart. This afternoon was a gift for anyone playing the VIX as one guy in here did.

The Ultra VIX was trading at 16.32 at 2:11pm and in the after hours market its trading at 29.67 as of 5:05. The 16.50 Feb09' call was up 772.09% at close.

Futures are what you need to watch before the bell is open. Futures on the dow have it down 300 points tomorrow already and the market closed just an hour ago.

Gold is up about 8% this year. If gold starts to go hyperbolic we are in for a correction as big money is rotating out of stocks.
02-05-2018 05:21 PM
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aTxTIGER Offline
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Post: #60
RE: DOW
(02-05-2018 05:21 PM)Kittonhead Wrote:  This is day trader heaven. Day traders watch the charts and make plays based on the chart. This afternoon was a gift for anyone playing the VIX as one guy in here did.

The Ultra VIX was trading at 16.32 at 2:11pm and in the after hours market its trading at 29.67 as of 5:05. The 16.50 Feb09' call was up 772.09% at close.

Futures are what you need to watch before the bell is open. Futures on the dow have it down 300 points tomorrow already and the market closed just an hour ago.

Gold is up about 8% this year. If gold starts to go hyperbolic we are in for a correction as big money is rotating out of stocks.

Looks like the XIV is gonna get liquidated. Any VIX move up 80% can trigger that. This is gonna be a massive scandal if it happens.
02-05-2018 05:22 PM
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