Overbought and hit resistance.
Monday is probably a down day for everything. I think this "flight to tech" is a bit strange, almost old school where everyone would jump into FAANG stocks when they got scared, lol.
Small caps in a full on collapse, I think small caps drag everything down. Plus I think the Fed goes .25 if not .5%, they have to tank the market to control inflation.
Got stopped out of my PCAR position, and did the only thing you can do, short PTON, lol.
Monday is probably a down day for everything. I think this "flight to tech" is a bit strange, almost old school where everyone would jump into FAANG stocks when they got scared, lol.
Small caps in a full on collapse, I think small caps drag everything down. Plus I think the Fed goes .25 if not .5%, they have to tank the market to control inflation.
Got stopped out of my PCAR position, and did the only thing you can do, short PTON, lol.
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BTW, don;t chase PTON at this point, it probably finishes the day at $10 because of options expiration. Lots of $10 puts that the market makers will want to wipe out, I did next week's so I'm holding.
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As soon as I was done posting this plot.... lol
Sorry, but I gotta get my trades in before I post plots
Sorry, but I gotta get my trades in before I post plots
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The market is still pumping tech because they are now expecting a rate CUT. See my US03MY plot. Unless Powell is a complete moron, he won't cut and the market absolutely tanks Wed.
Then again, I do call him the Village Idiot for a reason, lol. Who knows....
Then again, I do call him the Village Idiot for a reason, lol. Who knows....
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As I said earlier today, PTON is gonna finish above $10.... I flipped my puts earlier today, but will probably buy a few EOD for kicks and giggles.