bmneveu's Account Talk

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Maybe a chance to grab some individual stocks this morning? Quick turn around sometime next week maybe. I will be looking at a few but some are edging back up. Jittery market right now.
 
If anyone ever sees me making bearish remarks on here, please just respond to me with "Don't Fight The Fed". I might get that tattoo'd on me somewhere. Forehead would be a bold move.
 
Sold my air lines, cruise lines, and travel / vacation stocks. Virus seems to be coming back. Averaged about 30% gain on the stocks I sold (over a 40~ day period). Woo! Used about half of the proceeds to purchase Google, and kept the other half in cash for now.
 
bmneveu said:
Does anyone else feel like the market is going to crash this week?
Click to expand...

Not certain what it will do, but momentum indicators indicate downward... then again, any good news could change that. I am not entering until Stochastic goes down to at least 20 and then starts to cross back up...

PS..I also look at NYSE cumulative volume....looks to be going down right now, but again... it too can reverse on a dime. It does seem to lead at times.

nyud cumulative.jpg
 
oh... and more importantly, we broke uptrend on Weekly chart and no longer have higher highs and higher lows on S&P 500. Two weeks back we had a lower high and last week we established a lower low. That looks to be at least a short-term down trend. Will see.....but, but, but....Per Ira Epstein, who uses "swinglines", we will not break uptrend if S&P dies not drop below 2935....hummm......:rolleyes: plus he noted that Bollinger bands are starting to roll over...interesting video Nnuut posted Saturday on the Ira thread... Thanks Nnuut!

SPX now.png
 
Uber buys Postmates for $2.65B... might have to look at buying Uber stock now. Makes me think, Amazon started out as a book store. Uber started out as a taxi service. Now food delivery, maybe opening the door to package delivery, which is a massive and growing industry. Uber could be on the up and up with this one. I like it.
 
bmneveu said:
Uber buys Postmates for $2.65B... might have to look at buying Uber stock now. Makes me think, Amazon started out as a book store. Uber started out as a taxi service. Now food delivery, maybe opening the door to package delivery, which is a massive and growing industry. Uber could be on the up and up with this one. I like it.
Click to expand...

Looking at their financials now and they are not pretty. Never turn a profit, always operating at a loss, and burning through cash fast over the last 9 months. They need to figure out how to operate in the green or they won't last. Maybe the Postmates acquisition fixes that, who knows.
 
IFT today, taking half out. 50 G 50 S. I'm predicting we get some pretty terrible COVID numbers in the coming days due to all the 4th of July parties. Hope I'm wrong, but being cautious here.
 
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