Stocks and ETFs and Indexes are down across the board, and we are still in earnings season. However, earnings are not strong and giant companies like Amazon are actually down this quarter. Apple is on a downtrend with earnings this Wednesday I don’t expect a good earnings result and it will go down further.
Adobe is one of my favorite stocks, but it’s also down today, although it is hit a bottom at $236. If it goes down then it will go down to $220.
AMD is down as expected, it will take a while for it to go back to its previous high.
Facebook (FB) I’ll probably buy it at $110, I am not betting it will go down that far, but who knows, FB is making it’s users angry by its politics.
I am surprised to see Google (GOOGL) down that much, it will drop even more tomorrow and through out the week. Bottom is at $1000, a big round number, I am expecting a buying rally later this week.
IBM bought RedHat and it down, I am thinking it’s on a bearish trend.
Honeywell (HON) down, Lockheed Martin (LMT) down, Palo Alto (PANW) down, and many others.
I think we are at the very bottom here, all stocks falling so hard and are at their lowest level right now. Personally I am expecting a buying rally later this week. It’s could also be my optimism. To be honest all I see are big, full, red candles, which gives me the opportunity to use options to grab them at the bottom.
My expirations are set to December 21, here is why. The Christmas rally possibility is high, the stocks and indexes are slowing the down momentum, and there will be a lot of people buying at the bottom, so the prices will increase. It will take few days or may even be few weeks still, but the momentum is slowing.
Financial sector will probably start to go back up soon. I am looking at stocks mike Master Card and Visa (MA and V). Banks on the other hand are not my thing, so not going to trade them at all.
You know how the Murphy’s law works? You wash the car, and it rains. Or you take a jacket and it’s hot outside. Same thing with stocks, thinking of entering more bearish trades for buying rally to start.
Of course there is a twitter, and sanctions, and tariffs on products from China, so the rally maybe postponed. It sometimes seems someone wants the bearish conditions to continue for a bit.