DOW 23,000+ today?

[Grant 302]

I firmly disagree.

There wouldn’t be a market without disagreement.

Without getting into the details about my macro view, going to cash is about the worst thing one can do right now. Locking into an annuity might be the only thing I can think of that’s worse.

 

[Fat Boss]

Go Go LRCX !!

Grant- you owe me a coldie for turning you on to it.

 

[Grant 302]

Go Go LRCX !!

Grant- you owe me a coldie for turning you on to it.

Lol. But I owned it before you made the move!

I’d buy you one anyway for stirring my interest in it. Or for making me remember that I have some. I moved it higher on a watch list. So at least two.

 

[Fat Boss]

Ah, ok. Well, I'll still drink 'em.

 

[Grant 302]

Last Friday it looked like the ‘flushout’ I was expecting might have happened. Placed some small bets for the test of 27k/June high territory on the weeklies. I thought the test was inevitable at some point. Not sure I’m gonna bet on a breach for next week, but gotta wait for the action toward closing to see. And that’s what I could see in last Friday’s closing.

 

[Grant 302]

Lol.



Nice way to close the week. Almost like I know what I’m talking about. Almost.

 

[Fat Boss]

That's awesome! At least someone knows what they're talking about.

This author CLEARLY doesn't. https://finance.yahoo.com/news/surging-earnings-estimates-signal-good-123612443.html

 

[Grant 302]

Dow hit an intraday high of 28,633.85 so far and cleared my ‘low-side’ target of 28,500. Of course this pales in comparison to the all time highs made by S&P500 and the Nasdaq lately, but still important milestones for the market overall. I’m expecting it to take some time to fill the price range between here and making new highs and if I’m wrong, tgat itll simply blow through to new highs and crack 30k.

Many of the retail investors I talked to just on Saturday were claiming that things were looking ‘toppy’. Being one of the few contrarians in the group I said this is ‘exactly what it looks like before a breakout.’ So there’s a little one that started this week, but I’m talking about the larger move that’ll also bring new highs in the Dow.

It’s funny how pundits like Cramer completely ‘blame’ retail investors for moves like this...when they’re the ones that often and usually bail too early.

 

[VoodooBoss]

I agree. While we could have a round of profit taking and maybe a correction I think the trend up remains strong.

 

[Grant 302]

Nice moves today. A couple of Dow components were swapped out at the beginning of the week.



Looks like the Dow will finally catch up and test the all time highs like other indices.

 

[Fat Boss]

It's been a while. About three weeks ago I bought more shares of LRCX ( I know, I know, diversify, idiot) but I knew it was oversold. Well, I sold them for a 10% profit today and put the money into oil and oil field development stocks. OXY, CLR, and VLO. They've been getting hammered lately and now I think they're oversold. Looking to make 25 to 50% on them before I bail.

 

[Tonymustang302]

Ive been watching the show billions.......which One of you is Bobby axlerod with your trades lol

 

[Fat Boss]

Ive been watching the show billions.......which One of you is Bobby axlerod with your trades lol

I haven't seen the show yet, but I'd be on a show called Thousands, not Billions.

My Mexican copper mining company SCCO stock is doing good this morning, currently up over 4%.

 

[TymeSlayer]

Mo cash, less hash. Look to get back in after the big retreat after the election. Maybe...

 

[ChrisM]

I haven't seen the show yet, but I'd be on a show called Thousands, not Billions.

My Mexican copper mining company SCCO stock is doing good this morning, currently up over 4%.

Mexican mining company? Are you Francisco D'Anconia?

 

[Fat Boss]

Mexican mining company? Are you Francisco D'Anconia?

Sometimes I feel like I'm a one man operation.

 

[Boone]

Sometimes I feel like I'm a one man operation.

View attachment 58801

I can't help myself... Are you the guy on the far right with one hoof inside the tracks? Or is that a Track Mustang Online? Too many stupid comments running through my head at once!!!

 

[Fat Boss]

I officially don't understand the market. LRCX announced earnings after the close yesterday. Earnings per share beat the consensus estimate by 10%. Revenue was higher than expected. NEXT QUARTER was guided higher than consensus. Stock was down today. I guess the good news is the train is chuggin' along in the right direction.

The division I work (Customer Support Business Group) in just had it's first $1B quarter, so there's that. We're probably 5% of the headcount of the company, and we logged almost a third of the revenue. It's crazy that we sell $5M to $10M machines and every seven years get that much more money in spare parts and service.

 

[Grant 302]

I officially don't understand the market.

Does what it does. Like when I suggested some time ago that 2020 (Feb) highs were going to be tested again, most that I told in person looked at me like:

I’m pretty sure in the LRCX case, the market was simply expecting a bit better. Everything considered, current pricing looks good to me.

 

[TymeSlayer]

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.