More Pithy Hedgeye Comments
Check out Keith’s chart:
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The Gospel According to The Divine Ms M
From Helene’s latest column “Signs of Speculation With a 4 Billion Share Penny Stock Trading Frenzy“:
Back on May 6th, Nasdaq had 122 stocks making new lows. Tuesday, there were 279 stocks making new lows. So, under the surface, we’re seeing a reduction in stocks making new highs and an increase in those making new lows. Not exactly the healthiest market.
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Hedgeye Asks…
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My Tweet of the Day
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Cannabis Tweet of the Day
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Tuesday Night Trading
Up, down, up, down, up, down. (I counted at least three moves of 25 handles, while I was awake trading!)
The Spoos were more active than a bed bug last night — moving, in aggregate about one percent.
I traded $SPY and $QQQ profitably/aggressively but since they are closed out there is no need (or value) to recap the specific trades.
I approach evening trading opportunistically — and find a lot of inefficiencies, perhaps explaining why about one-third of my trading/investing is done in the after and pre markets.
I currently have no index positions.
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Signs of Speculation With a 4 Billion Share Penny Stock Trading Frenzy
Sure, the Nasdaq traded 15 billion shares. But the action was concentrated in the Semis, as expected, and a penny stock, not expected.
Oscillator Remains Solidly Overbought
The Short Range S&P Oscillator remains firmly in overbought territory at 2.44% vs. 2.34%.
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Is Big Tech Out of Ideas?
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Seven Weeks of Trading and We’ve Gone Nowhere
There’s been a lot of movement among individual names since May 6th, but the major indexes have nothing to show for it.