Is the stock market going to tank?

[406]

Remember when the Fed bought apple bonds to save the economy?

“Combine Walmart, Disney, Netflix, Nike, Exxon Mobil, Coca-Cola, Comcast, Morgan Stanley, McDonald’s, AT&T, Goldman Sachs, Boeing, IBM and Ford.

Apple is still worth more.”

Crazy, since apple is basically just a marketing company.

[dunfree]

230 million pocket supercomputers a year is a miracle of the era.

[4matic]

$80 is not exactly strong support for ARKK. It was a short consolidation area. To get to the long term breakout around $55 TSLA has to throw in the towel.

[4matic]

TSLA filled a large gap at $900 and rallied away sharply. Now it’s building a huge wedge with resolution tbd. It’s interesting that several formations and and MA’s are consolidating around $1k. Could just indicate a long sidewise pattern too

[4matic]

Thanks Fed!

"participants widely cited business contacts feeling confident that they would be able to pass on higher costs of labor and material to customers."

[Danno]

For those who are still holding AMC, when the hell do I sell this damn thing? I don't have a lot of $$$ in it, and I know (of course) that nobody can give me the right answer, but what's the end game? Is there some high point that all the bros think it's gonna hit? It seems to be bouncing in the 20s and 30s, so just trying to figure out if there's some number I should target.

ETA: just to be 100% clear, I don't expect anyone to "know". I just am asking that for those who are holding this stock and/or paying attention to it, what's the end game?

[4matic]

If you wouldn’t buy it today don’t own it tomorrow. There is no yesterday. I wouldn’t be surprised to see GME back to single digit.

Pick a price to puke so it doesn’t go to zero on you.

This was a $10 stock way pre pandemic and they are not even close to previous earnings and never will be.

[BobMc]

June 18th, (of last year). It was trading under $10 before the pandemic hit.

[Toadman]

Thanks Fed!

"participants widely cited business contacts feeling confident that they would be able to pass on higher costs of labor and material to customers."

Pretty much this. Big biz is just passing along the price hikes until they start to see sales drop. Figure about 9 more months of good times rolling before the wheels start to come off. Maybe we get lucky and it's just a flat tire.

[dunfree]

It’s a dogshit company who’s management has leaned hard into shitposting, it’s the perfect stock for the age. AMC to the moon!

[Danno]

If you wouldn’t buy it today don’t own it tomorrow. There is no yesterday. I wouldn’t be surprised to see GME back to single digit.

Pick a price to puke so it doesn’t go to zero on you.

This was a $10 stock way pre pandemic and they are not even close to previous earnings and never will be.

I bought it at $10, lol. And I wouldn't really have bought it then either, if not for the stupid meme world. So I know it's a shit stock, and I have already sold enough that I made money regardless. I understand that by any normal metric, the answer was always "don't buy" so surely is also "sell now"! But at the time I bought, some of those idiots (apes?) had some knowledge/belief/pipe dream that it would go big. And it did. So I am wondering if anyone follows that world, and what's the realistic word on it now.

June 18th, (of last year). It was trading under $10 before the pandemic hit.

Yep!

It’s a dogshit company who’s management has leaned hard into shitposting, it’s the perfect stock for the age. AMC to the moon!

Don't disagree at all.

[Danno]

So, for the moment I picked the one month high as my sell target.

[Hott Butt Mud]

Are we going to see a 10% market correction in January or nah?

[Bunion 2020]

Long overdue if you ask me.

[4matic]

Interesting. The largest holding in IWM is AMC. IWM looks vulnerable to $175 or so. That’s a really long sidewise flag in a major index. Could just be basing too.

[BobMc]

I bought it at $10, lol. And I wouldn't really have bought it then either, if not for the stupid meme world. So I know it's a shit stock, and I have already sold enough that I made money regardless. I understand that by any normal metric, the answer was always "don't buy" so surely is also "sell now"! But at the time I bought, some of those idiots (apes?) had some knowledge/belief/pipe dream that it would go big. And it did. So I am wondering if anyone follows that world, and what's the realistic word on it now.

Some of those people were here a couple months ago recommending people buy GME at $225+, how’d that go?

[m2711c]

HUT ain’t doing so good.

[BobMc]

Looks like the “apes” tried another run on GME. Announcement of a new division looking into NFT’s and crypto caused an after hours run (pump and dump) yesterday. It opened at $159 today via a flurry in options trading. Fell back to earth throughout the day.

Danno, I don’t have any sound financial advice, but I don’t think I’d hold AMC looking to get $33 out of it anytime soon.

I picked up another 100 shares of EPD today. My attempt to fill via puts failed, I grabbed a few bucks here and there selling unsuccessful puts but the underlying jetted away from me further than I’d made on the low yielding puts. I’m looking at it as extra money made while chasing the price, or at least that’s what I’m telling myself.

I’m deep into a CMPS put as well, that $18.87 close today doesn’t make my $22.50 put very appealing considering the $175 I sold it for. Still got some time and holding out hope, although like I’ve said, I’m ok with the $20.75 entry with trials coming out in a few months.

Sold an XOM call the other day that is underwater, gonna let it be assigned and move the proceeds to EPD or some other midstream. I keep looking at that tobacco play but still just can’t do it.

[Stu Gotz]

The foolishness of the AMC/GME rabbit hole is impressive. Conspiracies behind every door.

[dunfree]

If their bullshit works they’ll be genii, like the tsla clowns.

[4matic]

Wedbush's Michael Pachter told Yahoo Finance Live.

“NFT's can only be resold if the publishers allow them to be," said Pachter.

"I know that a lot of the GameStop 'Apes' think that, 'Well they have this unique relationship with their customer, and they have a great relationship with their publishers.' That's just wrong," he said.


"The publishers are really going to be reluctant to let anybody trade NFTs unless they control the transaction and they capture the lion's share of the profit," said the analyst.

"BFD they hired 20 people. Who cares. Unless they hire all 20 people from Coinbase (COIN), I don't see how they're going to be able to pull this off," he said. "Dead on arrival. This is a dumb idea."

Only three analysts cover the video game retailer. Pachter of Wedbush Securities is one of them. He has an Underperform rating on the stock, and a price target of $45.

[MTT]

I would say it is officially tanking now

[schuss]

Wedbush's Michael Pachter told Yahoo Finance Live.

“NFT's can only be resold if the publishers allow them to be," said Pachter.

"I know that a lot of the GameStop 'Apes' think that, 'Well they have this unique relationship with their customer, and they have a great relationship with their publishers.' That's just wrong," he said.


"The publishers are really going to be reluctant to let anybody trade NFTs unless they control the transaction and they capture the lion's share of the profit," said the analyst.

"BFD they hired 20 people. Who cares. Unless they hire all 20 people from Coinbase (COIN), I don't see how they're going to be able to pull this off," he said. "Dead on arrival. This is a dumb idea."

Only three analysts cover the video game retailer. Pachter of Wedbush Securities is one of them. He has an Underperform rating on the stock, and a price target of $45.

Yep, he's spot on. Ubi already has an NFT platform and game out (and doing poorly) and Gamestop is an unnecessary middleman. If Valve (owners of steam platform), Epic (Owners of epic game store and unreal engine, one of the premier 3d engines), Apple (duh), or MS/Sony (owners of major consoles) put out a framework, it will likely have buy in. The last thing anyone wants is another party to give margin to - this is why Gamestop is silly. Even before this, they were a complete dumpster fire to deal with for any gamer compared to literally any other retailer.

[4matic]

Not really. 1-2% daily moves are nothing.

AMZN chart looks eerily similar to IWM. Long Sidewise pattern over the last year trading at the bottom of the channel. $1k downside risk in AMZN in my view.

MSFT earnings are about as high quality as you get and the stock is down 10% from its 52 week high.

[4matic]

The early 90's up to 2001 had the most volatility I recall. Daily up and down with 2-3 % ranges and daily reversals were common. Now most of the daily volatility gets wrung out in 24 hour trade and derivative trade.

https://www.crestmontresearch.com/do...erspective.pdf