Anybody Buying Yet? Where’s the Bottom?

[noharleyyet]

I'm running an informal research project on who to vote for in November. Selling my vote to the best performer if you will. Purchased equal amounts, in terms of dollar amount, the same day.

Right now it's leaning one way . . .

View attachment 332614

Jokes people.

 

[Sytes]

And on that note:

 

[jryoung]

And on that note:

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Best meme, , would meme again.

 

[BigHornRam]

Added to my black gold portfolio this AM.

 

[Rie Bread]

Energy, industrials and banks hot hot hot

 

[SAJ-99]

Added to my black gold portfolio this AM.

Nat Gas has been taking a beating lately. Hard to explain given heat waves typically mean more use for electric. Took a chance on that today.

 

[Rie Bread]

Nat Gas has been taking a beating lately. Hard to explain given heat waves typically mean more use for electric. Took a chance on that today.

Bought kinder Morgan a few months ago

 

[Rie Bread]

Wow DOW heating up with the summer temps

 

[SD_Prairie_Goat]

I assume that our discussion of small caps on this thread is why my small caps have gone up 10% in a week.

Way to go fam

 

[nicktown97]

I bought some cigarettes and a bottle of raspberry iced tea.

Man of culture I see!

 

[Rie Bread]

Do you love gold?? Popp’n with these rate cuts?

 

[Rie Bread]

Triple Q selling off again? As they say tech leads the way? Sign of a sell off to come?

 

[Sytes]

INTC still making a nice climb.

Now that I've said that...

 

[SAJ-99]

Missed yesterday's fun. The last week certainly has been a little crazy. I'm not sure it is the best sign of a healthy market, but it is option expiration week.

 

[Cornbread]

As a deer friend, who covered me from the futures desk at Goldman said, "BOTTOM PICKERS GET STINKY FINGERS".

 

[ignorethefringes]

What is everyone buying on sale the last few days/weeks?

 

[Flatrock]

I'm not sure it is the best sign of a healthy market, but it is option expiration week.

Ha! Well played. I will say, you've got me looking at that more. Mainly just as a catalyst to buy at lower prices with a longer timeframe.

 

[Flatrock]

What is everyone buying on sale the last few days/weeks?

I bought a little bit at the close today. I feel like a 10% pullback is definitely a possibility and I really hope it does that. Usually I'm wrong though so we'll see. If it does pull back around 10%, I'll buy the SMH, maybe SOXL as a 2-4 month trade in my fun account.

 

[SAJ-99]

Ha! Well played. I will say, you've got me looking at that more. Mainly just as a catalyst to buy at lower prices with a longer timeframe.

Exactly. They are pivot points on times to buy or sell. For example, the low on selloff from Covid in 2020 was an option expiration day.

Took off a lot of hedges today. The 2% selloff wasn't based on much, other than some mediocre earnings and people thinking that paying 22x for forward earnings might be a little rich. Bought some SPY calls toward the close. We will see if we bounce tomorrow. And option hedge flows should start building again into next week.

 

[noharleyyet]

Apropos of nothing, an article for the let them eat cake interests...

https://www.cnn.com/2024/07/25/economy/wealth-tax-super-rich-oxfam-report/index.html