DOW 23,000+ today?

[302BOB]

Chicken Little.

Chicken Little may be on to something here....................Only Tyme will tell......

 

[Grant 302]

With all that's going on, the market is way over priced and although I'm certainly no expert, I can't help but fear a correction is coming and it will be big. Often the market can smell it in the air but since they can't see it, there is no reason to fear it. ~ Chicken Little.

The problem with that thinking is: who is going to sell into a theoretical ‘next correction’?

The dip in March had all the hallmarks of what I’d call a ‘flush out’. The main one is low volume.

If the ‘overvalued’ argument is applied to any particular sector, well, ‘show me’. My personal feeling is that high valuations exist, but mostly contained to sectors and not anything unusual. Just following the ‘K’ model recovery, IMO. The businesses that didn’t get hit or actually benefit from pandemic conditions are perhaps a bit overbought, but I think it’s just mild rotation not massive irrational influx of cash.

Again my view is still to hedge...and not worry about it.

 

[TymeSlayer]

My pennies, nickels and dimes are safely stashed in my piggy bank.

 

[VoodooBoss]

Today would be a good time to buy.

 

[Grant 302]

Today would be a good time to buy.

Or Monday. Maybe add on Tues. Gonna load up on spreads. Not gonna carry a heavy bias up or down.

My pennies, nickels and dimes are safely stashed in my piggy bank.

Short term hedges kicked in at about the 27,600 level. Essentially funding my bets for next week. Dow is finally showing more of the pre-election consolidation I was squawking about sometime earlier.

 

[Grant 302]

Here it is from July 14:

Consolidation appears to continue around levels established in June...and it does seem like a break to the upside might happen sooner than later. Maybe after a flush-out style dip first.

Value of the Dow on that day...

 

[302BOB]

My pennies, nickels and dimes are safely stashed in my piggy bank

No mention of those quarters...where are they going??....I know...Sweet Lorraine.....

 

[TymeSlayer]

Sweet Lorraine doesn't want to be weighted down by coins. She's more a paper and plastic expense.

 

[302BOB]

. She's more a paper and plastic expense.

They are what they are, but we love them just the same.....this may include more than just our Bosses........

 

[Fat Boss]

Go Go LRCX !!! It "nibbled" on $400/share today. Boom Shuka Laka!

 

[Grant 302]

Like this part. Spreads placed Monday doing okay.

 

[Grant 302]

Almost cracked 30k yesterday and hit all time highs. Let the 40k predictions roll!

The Dow may reach 40,000 before 2021, post-vaccine: Trader

CNBC's Scott Wapner discusses stocks under pressure and where Dow Jones Futures are headed with Bill Baruch of Blue Line and Brian Stutland of Equity Armor Investments.

www.cnbc.com

 

[Grant 302]

It’s official.



I haven’t been blabbing about it as much here, but I’ve been saying it was gonna happen “some time after the election” from a completely non partisan investor view. Markets only want to get past the (relative) uncertainty.

There are far more reasonable targets than 40k. But I’ll blab about that later.

 

[302BOB]

30K is here...40K is a ways away..close your seetbelts for a long ride ahead....................

 

[Grant 302]

..and don’t be Chicken Little.

Real estate not a bad idea either. If you don’t like the market risk. Or so says my macro view. But not gonna get into that here.

 

[VoodooBoss]

DOW 100,000, you heard it here first.

 

[Grant 302]

DOW 100,000, you heard it here first.

True. But not sure I’m gonna live that long.

 

[TymeSlayer]

I'm doing okay so thanks for asking...

 

[VoodooBoss]

Hopefully you’ve all been long the market since March. I think there’s still a ways to go. The stimulus coming early next year could be a Saturn rocket for the markets. But we won’t discuss how we’re going to repay all those trillions...

 

[Grant 302]

Made my last big purchase(s) on April 6. Gonna have some movement for tax purposes. But that’s not ‘real’ buying.

Repay the Trillions? Lol. That’s *not* part of the plan.