IMO ur likely right on; August has been a rough month historically. Probly sell hard then rally again in September, most new ATHs occur in September.
ProfitHarvest
⋅
Welcome back to team Crackpot!
Dr_Roboto
⋅
LOL. Maybe I should change my name to Dr. Crackpot. I lost my way there for a while.
I just can't help being a bear right now. Every stock wave anlaysis I do, every indicator I look at, all of them point down, way down. All you need to do is look at the slope of Amazon's and Facebook's stock to know that this is a massive bubble. 2-3 stocks cannot hold up the enitre stock market, just ask Exxon and GE. It will be interesting to see if the Fed can save this ship.
ProfitHarvest
⋅
@Dr_Roboto, Well the market was super tricky the past month so we all had a bit of a tough go with our predictions haha.
Fed and Fed boosters are underestimating the Law of Diminishing Returns if they think it still has the power to prevent a retail panic sell off!
Dr_Roboto
⋅
@ProfitHarvest, the Fed's money has no effect on the AI trading algorithms. Once they detect weakness they will automatically start a sell off that just won't stop.
The only thing IMO that can save another worse crash is the Fed buying stocks directly. I saw an article the other day that stated there was a loop hole in the stimulus package for Black Rock to by stocks on the Fed's behalf.
I guess now we just sit back and watch it unfold one way or the other.
ProfitHarvest
⋅
@Dr_Roboto, Oh yea, the devastating combo of retail panic + programmatic sell offs is why I’ve been short since late May haha.
I ranted somewhere on here weeks ago about the impossibility of the Fed buying back stocks directly namely because a Republican president strong arming the Fed to replace the free market with socialism would be a step too far for conservative hypocrisy.
Very interesting tip on the Blackrock loophole though. Their lack of conviction for their decades of supposed “free market values” and depravity to retain power knows no bounds so I wouldn’t be too surprised if they tried and completely obliterated modern Conservatism as we know it in service to their Great and Infallible Leader.
Another interesting note, Blackrock is one of the largest commercial property owners in the world and they were the first big company to STOP paying their rent across all properties in a bid to cover their own ass at everyone else’s expense.
These people are disgusting and horrible. The whole system is rigged to privatize profits and socialize costs.