My Lions, Stocks: Caution Advised. By Gregory Mannarino
Happy independence day!
I know it is July 4th and I should be taking the day off however, after Monday's market action especially with tech, I wanted to get this out. (I am always looking out for my Lions).
Stock market action yesterday, I would have to surmise, was driven by algorithmic trading. There was an initial movement of cash into tech which suddenly reversed-then cash moved into financials, and other DOW components. (There was also a rise in volatility, cash moved into the dollar, came out of bonds, and gold/silver derivatives got hammered).
Here is my concern.
I have been watching tech for a few weeks now waiting for a reversal, which appeared to be starting in early trading yesterday however the abrupt reversal out of tech rattled me.
For now I am still holding both FB and AAPL (now hedged calls) click here: https://www.traderschoice.net/money-page--stock-picks.html however depending on the price action tomorrow I may close these positions and possibly even go short (by closing my calls and adding to my put hedges).
If I am wrong here (and this is certainly possible), I do not want to lead us into a battle which we cannot win.
It is possible my Lions that we may have to retreat from this current battle and re-evaluate.
I will keep you all posted.
Gregory Mannarino
Happy 4th of July Gregory and my fellow Steemians !
That algorithmic trading yesterday made me $3000.
I don't think the reversal happens til the end of the week Gregory. stay put and watch tomorrow is smart idea. My goal tomorrow is to make another $3000.
I wish this for you! See you here tomorrow! 🎆🎇🎉💥
###Thanks
:)
I saw an article on Zero Hedge this morning saying that after hour trading had been stopped because of a flash crash in the Nasdaq. (technical glitch). Any update?
Hyperbole, several financial sites were posting the wrong figures and it was never nasdaq. I did see that but I've read about it since
My theory last week was the market makers want money to flow into markets and out of metals because the music has stopped. They need sheeplike people to continue to fund their fraud. But at some point they have to dump the pump to get the returns and I think we are seeing the dump happening.
Hi Greg, Happy Independence Day to you to. I came back from work driving truck on Monday and WoW....what the heck happened to Gold & Silver I wondered. So I checked out as always what you had to say, and you explained what was going on beautifully. I don't trade metals, but am stacking and becoming my own central bank (as you always say). So Monday night bought some more gold & silver. Goes down I buy. Thanks for keeping us Lions updated. And have a Great Day Brother.
I really like the sale in Silver .999 rounds
I want to make money so like my post haha
OK... Up-Vote mine too! :-)
Happy 4th back at you.. Thanks for having our back/front/side..
Thanks for the warning and have a great 4th from a lion. Great price to buy silver
Happy 4th.!!! I am grateful for our independence and how far the USA has come. Just as then we now need our independence from the banking controls and all this manipulation. I am so ready for something to change! We need a stock market that is legitimate. Thanks for the post
Great info!!! Happy 4th of July!!!!!!