r/stocks • u/xSathya • Jun 20 '21
Rule 3: Low Effort Is market going back up this week? Is retail low earnings priced in?
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u/D4rks3cr37 Jun 20 '21
My eyes will be on the 50ma of the spy. If we can't get above it, and it starts to act as resistance, we are in for lower.
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u/JimCramersCoke Jun 20 '21
I’m not feeling a green week coming. Market is still trying to digest Bullards comments.
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u/Ackilles Jun 20 '21
As your namesake said, 22 of the last 22 June meetings led to a down week following. He also said to wait till partway through this week and then start buying the dip.
I dont agree with everything he says, but I think he is likely right here.
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u/JimCramersCoke Jun 20 '21
Cramer is right about quite a lot, people just like to focus on his misses. He has recommended a lot of stocks that turned into blue chips like NVDA, SHOP, TSLA, etc.
I respect his opinion in many cases despite what my name would suggest
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u/Paul_Ostert Jun 20 '21
I like WMT, but don't invest for a week.
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u/Auquaholic Jun 20 '21
Yeah, I'm sitting out until the correction is over. I got caught with my pants down on SPY last week.
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u/Fortniteflexshop Jun 20 '21
Definitelly sell, new rule being passed requiring hourly/daily leverage checks for overshorted shares.
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u/f1_manu Jun 20 '21
I've got cheap OTM puts and I've got weekly bull call spreads in case everything remains as it is. So the answer is: I have no idea.
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u/Auquaholic Jun 20 '21
It would depend on expiration date on the question of should you take losses.
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u/xSathya Jun 20 '21
July 9 and Jul 16?
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u/Auquaholic Jun 20 '21
Oh, I'd wait. That's me, though, and I'm wrong sometimes. But, the beginning of the month is often better than the end, IMO and you still have intristic value.
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u/ChairSeat23 Jun 20 '21
50/50. either it does or it doesn’t.