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And yeah I decided today I'm going to relax on fucking with my MJ stocks. The bounce from recent lows was weak and I have a feeling they're going to get annihilated at some point, but too many catalysts coming soon and shit can change on a dime. I have my smaller than normal cores and I'm going to stick with it. No smaller positions than what I currently have. Beyond worth riding the wave, and strong dips just mean I get to buy more which is verrrrrry nice.
 
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Heh bounce came right off Tuesdays low but bulls can't get any follow through here. They're probably doomed. But if they hold Tuesday's low that's a damn good sign for them. LOF may be able to sleep at night.
 
monster numbers by Peleton, but stock will probably be down to flat after its big run

$PTON Reports Q4 diluted EPS 27c, consensus 10c; Sees Q1 revenue $720M-$730M, consensus $505.21M; Sees FY21 revenue $3.5B-$3.65B, consensus $2.72B
 
I don't think those kind of beats result in it going down. And it's up almost $7 in AH.

Nice picks, CH. You're the man when it comes to new tech bets.
 
These sorts of beats, and what we see in the stock market generally, I don't know what to quite make of them, but I'm starting to get the feeling that the middle class may not be all that beat up and has a fair amount of disposable income and cash lying around for these types of luxury purchases. I really put a lot of weight on that famous stat that always gets thrown around about how like 70% of the US doesn't have even $1,000 in savings and wouldn't even know what to do in the event of some unforeseen large expense like hospitalization, etc.
 
It's a K shaped recovery. Great piece two weeks ago in the Wall Street Journal.

Covid-19 Is Dividing the American Worker
The rapid adoption of remote work and automation could accelerate inequalities in place for decades. Economists say the resulting ‘K’ shaped recovery will be good for professionals—and bad for everyone else.

https://www.wsj.com/articles/covid-19-is-dividing-the-american-worker-11598068859

If you don't have Apple News (or a Wall St Journal sub), a bunch of other outlets have picked up the idea.

https://www.bloomberg.com/opinion/a...is-real-and-it-perfectly-captures-the-economy
 
Tech is once again weak sauce --- grabbed a short in NQ before my morning coffee; trailing my stop for a profit.

I still feel like we need a bit of a washout before we get going again.
 
Holding Tuesday's lows was nice and all, but I'm going to need to see more distance created from there. Until the trend is changed, I have to assume bearish.

But in this market a face ripping rally is always possible.
 
The Raptors playing at fucking 9pm is the real story though. Ever since I heard about it on Wednesday I've been so fucking bitter about it. Apparently I'm fucking nocturnal.
 
Yeah, I'm not used to the east coast being second fiddle. I'm a Leafs fan. Everything is catered to the Leafs when it comes to hockey. I guess maximizing $$$$ might be important to the NBA. I say, fuck 'em. Presto not having to stay up late should be more important.
 
Man this feels like such an obvious short. For that reason, I'm out. Too obvious, which means we're about to see a face ripper from the Chicago Bulls.



I'll regret this decision later. My instincts are usually half decent.
 
Honestly I just want MJ to dump so I can buy some cheap shit. Like... I think we all realize that leading into November, MJ is going to absolutely go fucking nuts with the election and the historic Q3 earnings that will make Q2 look like amateur hour. If I can buy a fuckton 30-40% cheaper than here, I'll be a happy man. Wishful thinking, maybe. But maybe not. Maybe not.
 
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Going to bake a beautiful loaf of bread. I expect to see a bludgeoning when I return. Bulls are weeeeeeeeeeeeeeeeeeeak.
 
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I got out of my NQ short when the getting was good. Now just watching. And organizing my desk, paying bills etc
 
QQQ might be in trouble here. Not far off from Tuesdays lows. Daily chart looking a lot like a smaller scale February 2020 dump. Bear flag on the weak bounce included.
 
Yeah there's trouble here. I'd short SPY but I'm going to be in and out today and I'd need to actively manage that position. But I'm pretty sure we're going to see a waterfall drop here. Volume will be a big hint.
 
Yeah, I've been shorting rallies all day....looking for ES 3324 to cover what I have left.

Fridays used to be my worst day performance wise, but lately been killing them
 
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