I'm really kicking myself too because I had a limit order price no higher than $28 for CWEN, and now it's hovering below $26 😩
Tis what happens when you chase the hype train. Should've just stuck with my gut and waited.
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Tis what happens when you chase the hype train. Should've just stuck with my gut and waited.
I love these posts 😈GME down 10%, that's good to see.
Valuation. It is still like a 35 billion dollar valuation. Upcoming earnings will definitely tell us if it is worth this valuation or not. The fact the stock has been bludgeoned since earnings may help. Or it might not haha. Earnings always a roll of the dice.
I'm still waiting for about 14-16, might split the difference and start getting in again at 15 it it gets there. If not, don't really care hah. There are a plenty non tech non growth stocks that look great at the moment.
Interest rates keep going up, or the big players in the market think they will, hyper growth high valuation companies will still get hit. The thing is though it seems like the big players are now trying to front run this move up, whether it happens or not. So if everyone starts freaking out about two percent interest rates, when we get to 2% and hyper growth are still getting hit I would think we are getting closer to a bottom in these stocks.
If we somehow moon to like 3%, or higher, then all bets are off.
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So you're thinking that when the 2% interest rate does come into play it'll already be priced in?
I should've just put it all in oil and T like I thought about because of the high dividends :P Instead I put half of my money (for that time not all my money) into safe ICLN and two gambles BB and NOK instead of T and Oil that I was looking at
T is up $2-3 from 29.5 to around 32.5 since when I bought ICLN and oil in general is up like 30-40%.
Wish I had bought more SHLX (I bought it the next month). It's paid out two .46 a share dividends to me since I paid 11.16 a share for it a few months ago and it's around $15 right now :P
It's what's saving me from ICLN because I put equal amounts in ICLN and SHLX and have made roughly what I lost from ICLN on SHLX lol
Yeah, because it seems like the sell offs are happening now in anticipation. At least that's my take, could be wrong and not really factoring a much bigger move above 2%.
I'm basically watching the QQQ and ARK K closely, because they are both teetering on the edge at the moment.
Overall though if we are getting an economic recovery, still believe the value tilt and/or reopening stocks will do better. If the reopening fails though, these stocks will get crushed.
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If that's the case though I feel like they would've waited until the Fed hints that it's coming soon. Not sure...I think they would want to ride the wave as long as possible before Fed introduces the 2% rates. Just my take. I think it's just a cyclical thing for now. With the fuel line crisis I can only imagine people took their profits from tech gains due to reopening to energy stocks for a quick buck but I really don't know. Just a guess. Also the whole "sell in May" mantra.
This is definitely possible too. Hard to know the exact reason for certain
I believe the bigger players are looking at higher interest rates and then projecting the fed will have to move. Markets are typically forward looking mechanisms that don't usually wait for the actual announcement to move on it. Unless it's a black swan no one saw coming. Once the announcement is made, not all of it might be priced in, but usually a lot of it is. Worst case scenario would definitely be the big players double dipping the drop on the ramifications of interest rates charging higher.
It might just be profit taking too, to sell these and go into reopening and value stocks instead. The QQQ doubled from the March 2020 bottom. Many individual growth stocks, even more. In an actual economic reopening, reopening and value stocks should still work better. Many value stocks, and reopening stocks, are just getting closer to their Feb 2020 crash high now. Where growth went way above these levels already.
When there is a huge thrust off a major bottom like last year, year two after huge move the previous year usually has some give back. Then moving higher the next year. Almost seems like this is playing out once more.
Ultimately though I'm just watching sectors to see how they are performing to base any stock purchase that are either in these sectors or trade similar to these sectors. So many individual sectors look over extended, and can stay over extended, but when they turn it usually isn't pretty. Perhaps ARK K rolling over first was the warning sign for the rest of the market. The charts always tell the true story, whether we are going higher or lower. For example, if ARK K starts turning it around for a sustained uptrend, this is signaling to me the hyper growth trade could be back on. Or when the XLI eventually rolls over, a lot of companies inside this ETF will roll over with it.
Edit:. We will have to see what tomorrow brings but looking at Wynn earnings, seems like the market is giving it slack on a double miss off of low expectations. Versus growth companies like Apple and Amazon who have the best earnings ever and the stock still goes down. Imagine if they had missed. 👀
Wynn Resorts Rises on Narrowed Loss, Mobile-Gaming SPAC Plan
Casino operator Wynn Resorts narrowed its first-quarter net loss and plans to merge its mobile-gaming division with a blank-check company.
www.thestreet.com
Likely due to the improved conditions incoming over the six months. When things go from very bad to less bad, it can help move a stock hah.
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Since I've seen a couple comments on Palantir selling off, I took a quick look at the chart and will try to explain why it keeps selling of on a technical level. The TLDR is it keeps breaking support level areas on the various charts on different time frames. The easiest way to show this is to do a top down look. Starting with the monthly chart, then weekly, then daily chart, and finally two hour chart. The support levels are color coded. So the monthly support levels are the yellow lines. The weekly support level is the green line. The daily support levels are the white lines. These support levels should be taken as general areas of support. Not necessarily to the exact penny.
First off, let us start with the monthly chart:
From the monthly chart, you can see see how Palantir was initially under 11.25 the first couple months. Then it shot up to around 35 in the third month. Topped out in the fifth month and started falling from there. Focus on the fifth month candle, which has the blue arrow near the 22.50 price yellow line. That 22.50 price is basically the low price of that fifth month candle. The month right after the fifth month had the huge red candle, and notice how the selling stopped near the low of that fifth month candle. That is because the low was a support area. The next couple months after it fought to stay above 22.50. It spiked below a couple times, but closed over that 22.50 level. However, this month it finally broke below 22.50 and all the previous month lows (with the seventh month candle lowest low around 20 dollars). Now beneath all these previous month lows, there is no support left but open space. Until we reach about about 11.25, which is way lower.
To get a better look with more candles, time to zoom in one level and go to the weekly chart next:
From the weekly chart, you can see even more how the stock fought the 22.50 level, trying to stay above it. Below 22.50 support on the monthly chart, we see another support level on the weekly chart. Which is the green line at 18.57. The closing price today was 18.47, however since this is a weekly chart, the weekly close is the most important aspect. So whether Palantir closes above or below 18.57 by Friday will be important. Once again, look at the open space between about 18.57 and 11.25. There still isn't much support here.
Now to zoom in one level closer to the daily chart to get a more detailed view with more candles:
Again, you can see how the stock fought hard to stay above that 22.50 level, and once it was lost it basically went into freefall. Having zoomed into this daily chart, I can find a couple more potential support levels. At 17.85, 16.18, 14.50, and 12.10. These were basically areas that the stock consolidated sideways for awhile and then broke out from. My golden buy is the 14.50 target. I don't know if we get there, but if we do this is an area I'll probably hop in. While also recognizing there could still be some downside risk all the way down to 12 dollars. Wouldn't be my expectation, but it is always possible once support levels are broken. I could also make a decent argument for a bottom around 16 too.
Overall, I don't normally like to add all these potential support levels so close to each other on the daily chart. It is basically overkill. However, when a chart has this much open space on it, this makes it much harder to find support levels. So in a way it actually a good exercise to look at because there could be many potential support areas in close proximity.
Finally, I will zoom in on a two hour chart on the left hand side ( by the two left hand side arrows) to reconfirm these support areas are important:
As you can see, these levels seem to be pretty important since you see the chart consolidate under these levels, break out above them, and then back test in the vicinity.
Now this isn't the only metric to use to find buying opportunities (You really want to have three reasons to take any trade). Some break out level areas are more important than others, due to various factors. But it is good first step to look for these break out area levels because you are trying to hone in on where the stock can bottom out.
First off, let us start with the monthly chart:
From the monthly chart, you can see see how Palantir was initially under 11.25 the first couple months. Then it shot up to around 35 in the third month. Topped out in the fifth month and started falling from there. Focus on the fifth month candle, which has the blue arrow near the 22.50 price yellow line. That 22.50 price is basically the low price of that fifth month candle. The month right after the fifth month had the huge red candle, and notice how the selling stopped near the low of that fifth month candle. That is because the low was a support area. The next couple months after it fought to stay above 22.50. It spiked below a couple times, but closed over that 22.50 level. However, this month it finally broke below 22.50 and all the previous month lows (with the seventh month candle lowest low around 20 dollars). Now beneath all these previous month lows, there is no support left but open space. Until we reach about about 11.25, which is way lower.
To get a better look with more candles, time to zoom in one level and go to the weekly chart next:
From the weekly chart, you can see even more how the stock fought the 22.50 level, trying to stay above it. Below 22.50 support on the monthly chart, we see another support level on the weekly chart. Which is the green line at 18.57. The closing price today was 18.47, however since this is a weekly chart, the weekly close is the most important aspect. So whether Palantir closes above or below 18.57 by Friday will be important. Once again, look at the open space between about 18.57 and 11.25. There still isn't much support here.
Now to zoom in one level closer to the daily chart to get a more detailed view with more candles:
Again, you can see how the stock fought hard to stay above that 22.50 level, and once it was lost it basically went into freefall. Having zoomed into this daily chart, I can find a couple more potential support levels. At 17.85, 16.18, 14.50, and 12.10. These were basically areas that the stock consolidated sideways for awhile and then broke out from. My golden buy is the 14.50 target. I don't know if we get there, but if we do this is an area I'll probably hop in. While also recognizing there could still be some downside risk all the way down to 12 dollars. Wouldn't be my expectation, but it is always possible once support levels are broken. I could also make a decent argument for a bottom around 16 too.
Overall, I don't normally like to add all these potential support levels so close to each other on the daily chart. It is basically overkill. However, when a chart has this much open space on it, this makes it much harder to find support levels. So in a way it actually a good exercise to look at because there could be many potential support areas in close proximity.
Finally, I will zoom in on a two hour chart on the left hand side ( by the two left hand side arrows) to reconfirm these support areas are important:
As you can see, these levels seem to be pretty important since you see the chart consolidate under these levels, break out above them, and then back test in the vicinity.
Now this isn't the only metric to use to find buying opportunities (You really want to have three reasons to take any trade). Some break out level areas are more important than others, due to various factors. But it is good first step to look for these break out area levels because you are trying to hone in on where the stock can bottom out.
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OP
OP
Great post MrBob, thanks.
If PLTR moves up, that $21 range looks like potential resistance. We can see it back tested to there in early Dec, then dropped to nearly $20 in early March and closed over $21, then it bounced higher from there in late March twice, then finally in early May bounced higher from there again and then the next time it gave up, plunging lower. Looking higher than $21, that low $23 range also looks like resistance with that red trendline of lower highs, which also lines up with the 50ma currently.
If PLTR moves up, that $21 range looks like potential resistance. We can see it back tested to there in early Dec, then dropped to nearly $20 in early March and closed over $21, then it bounced higher from there in late March twice, then finally in early May bounced higher from there again and then the next time it gave up, plunging lower. Looking higher than $21, that low $23 range also looks like resistance with that red trendline of lower highs, which also lines up with the 50ma currently.
Probably gonna end up taking my money out of Amazon and investing in something else.
Watch them do a stock split the day after I take my money out.
Watch them do a stock split the day after I take my money out.
Same. Starting to hurt. This is definitely in the running to be my worst day of the year if US futures hold.
Looks like the hedgefunds fleeing tech have taken the whole market with them
Yep, my meagre profit is about to be wiped out, and that's way before the US market is open.
Palantir Reports 49% Revenue Growth; $117M in Cash Flow from Operations, up $404M Y/Y; and $151M in Adj. Free Cash Flow, up $441M Y/Y for Q1 2021
Palantir Technologies Inc. (NYSE:PLTR) today announced financial results for the first quarter ended March 31, 2021.
And down 10% in pre-market. I think I will buy the dip.
Pltr will be the end of me. i'm like those Qanon nerds though; I refuse to believe I was wrong. I'm going down with this ship.
75% off it's ath. I bought 20 shares at around $21 just because I wanted to support the local spaceport. I'm not leaving!
If tech can't hold today it might have another 5-10% to go which is really bad for these hyper growth stocks. QQQ below it's 100 DMA in pre-market but if it can rally for a close above I'd be pretty bullish. If it falls and stays below next support is ~303.
300 seems more likely of the two for me, but I'll still buy a bit here and then more at 300.
300 seems more likely of the two for me, but I'll still buy a bit here and then more at 300.
More news to sell with plug!
Plug Power Provides Business Update
Record First Quarter 2021 with Gross Billings of Over $70 Million, Up More Than 60% Year-Over-Year; Reiterates Long-term Annual Gross Billings Targets Continues to Work Expeditiously to Complete Previously Announced Financial Restatement and Expects to File 2020 Annual Report on Form 10-K...
I welcome this red to be honest. I want to buy all the AAPL I can get. Off their best Q2 earnings ever and down by so much? Let me buy please.
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