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Hey Nerds: Blockchain

Of course it's not a red hot market and of course I'm not claiming everything is fine and we fully recovered. But it's not an equilibrium either. We've been grinding up this entire time on a daily uptrend. Until we show clear signs of topping out and no longer hitting higher highs, we are in an uptrend. That's not even day trader talk. It's basic common sense.
 
You're saying this as every index is lower than it was last week, and comparable to where it was 3 weeks ago.
 
My goodness. Do you think stocks just go up forever with no consolidation? Even in the most bullish periods (this past month and a half is one of the most bullish periods, for reference), stocks top out and consolidate before setting new highs. That's not day trader talk or even intricate analysis. It's a basic fact.

Kind of like how from Feb 28 - March 4 SPY did +10% before setting new lows. On March 6 SPY was priced higher than Feb 28. Does that mean stocks were going up and we should all be bullish? Of course not. The downdraft was more vicious (it usually is), but charts need to cool off no matter which direction they go in. Last week the charts were running red hot because they were so sizzling hot on basically all metrics (RSI is a simple one I use sometimes), so of course it needs to cool off before setting new highs. Hence, the reason I made a bear play. It wasn't because I felt things would crater. It was just something that was always going to happen in any trading environment.
 
Personally, I think we're seeing some panic buying here from folks who regret having missed the giant rally from the bottom.
 
Preston said:
My goodness. Do you think stocks just go up forever with no consolidation? Even in the most bullish periods (this past month and a half is one of the most bullish periods, for reference), stocks top out and consolidate before setting new highs. That's not day trader talk or even intricate analysis. It's a basic fact.

Kind of like how from Feb 28 - March 4 SPY did +10% before setting new lows. On March 6 SPY was priced higher than Feb 28. Does that mean stocks were going up and we should all be bullish? Of course not. The downdraft was more vicious (it usually is), but charts need to cool off no matter which direction they go in. Last week the charts were running red hot because they were so sizzling hot on basically all metrics (RSI is a simple one I use sometimes), so of course it needs to cool off before setting new highs. Hence, the reason I made a bear play. It wasn't because I felt things would crater. It was just something that was always going to happen in any trading environment.
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You can pile as much jargon in there as you'd like, but I think it's just confusing you at this point.

The Dow is lower than 3 weeks ago. That is just as long a period as the 3 weeks of massive bounceback after hitting the (teeds-called) bottom. That is a full HALF of your so-called "bullish period".

That's not "consolidation".
 
You are calling it a "month and a half bull run".

When the first half of that was a 30% jump, and the 2nd half has been pretty much break even.

I think you're making a mistake, personally.
 
zeke said:
You are calling it a "month and a half bull run".

When the first half of that was a 30% jump, and the 2nd half has been pretty much break even.

I think you're making a mistake, personally.
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that type of churn after a big move (up or down) is considered a period of consolidation
 
CH1 said:
Personally, I think we're seeing some panic buying here from folks who regret having missed the giant rally from the bottom.
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Was that me today? Maybe. Haha.

What are your top growth picks long term? Something that hasn’t quite taken off yet, not like a NVDA or anything like that.
 
LeafOfFaith said:
Was that me today? Maybe. Haha.

What are your top growth picks long term? Something that hasn’t quite taken off yet, not like a NVDA or anything like that.
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INSG (5G play) bought more today after selling it around 15 2 weeks ago; they did a capital raise today so stock got hit.
FSLY (fast growing cloud edge play) street finally getting their story after yesterday's earnings. still room to run after today's 40% pop. I will buy on dips
PINS fast growing social media; inked a deal with SHOP today, just a matter of time before they get a bigger chunk of ad dollars


Of course, all of these would get hit if overall market dives again.

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