DrStool Posted June 2, 2023 Report Share Posted June 2, 2023 Well, it's all semantics of course. Traders can find opportunities to trade in any environment. What you call it does not matter one iota. The only exception is tight trading ranges. They are meat grinders and the object there is too maintain capital for the next sizable move. That move is inevitable, but could be months away. Meanwhile, the drip, drip, drip of small losses can be soul crushing. I've had that experience and it's not fun. But lately, my longs have done much better, so there's light in the tunnel. I'll have an update coming later this morning. Also an update on the May withholding taxes, although I'm not sure that I'll beat the jobs report, which no doubt will beat expectations because that shit is rigged. So yeah, I think that this is a weak cyclical bull market within a secular bear. That means that a few big stocks are holding up the averages, while the vast majority of issues act like shit for years on end. I was active in the markets in the 1970s and 80s, and if you weren't in the Nifty Fifty, you weren't making any money. Except for baking soda, of course (CHD). 😁 I wonder how many stock pickers saw that multi decade move coming (150 X). As for today, the ES 24 hour S&P futures that we watch are up up and away again. As I write at 6:40 AM ET they are hitting trend resistance at 4244. The 5 day cycle projection is right around there also. A 5 day cycle high is ideally due tomorrow, but wouldn't be unusual for it to come today. However, if they clear 4244 with a bit of momo, there's running room to 4265 or 4280. If they roll over here, the first sport level is around 4225. That's where the uptrend would be tested. For moron the markets, see: That Seventies Show May 30, 2023 Gold Gets Closer to the Bottom May 30, 2023 Swing Trade Chart Picks – Numbers Lean Bearish, Charts Don’tMay 26, 2023 Modestly Hedged Dealers, Record Short Hedge Funds Suggest Disaster Ahead May 25, 2023 The Most Widely Forecast Economic Disaster In History May 16, 2023 The Big One is Coming May 3, 2023 If you are a new visitor to the Stool, please register and join in! To post your observations and charts, and snide, but good-natured, comments, click here to register. Be sure to respond to the confirmation email which is sent instantly. If not in your inbox, check your spam folder. If you're serious about the underlying forces of supply and demand that drive the markets, join me! Link to comment Share on other sites More sharing options...
Jimbo Posted June 2, 2023 Report Share Posted June 2, 2023 RE CHD Sells for 30 times free cash flow. I would pay 15 for it!!!!! Link to comment Share on other sites More sharing options...
DrStool Posted June 2, 2023 Author Report Share Posted June 2, 2023 Isn't that crazy! Link to comment Share on other sites More sharing options...
DrStool Posted June 2, 2023 Author Report Share Posted June 2, 2023 Baking soda for cryin out loud. Link to comment Share on other sites More sharing options...
DrStool Posted June 2, 2023 Author Report Share Posted June 2, 2023 Swing Trade Chart Picks – Growing Long Side Gains LEE ADLER 2 - TECHNICAL TRADER JUNE 2, 2023 Swing trade stock screens produced 102 charts with multiple buy signals as of the last two trading days of the past week. There were 116 charts with a second sell signal. That’s a virtual tie. Lot’s of signals on both sides, but a preponderance were in the context of rangebound noise, and therefore meaningless. Non-subscribers click here for access. Technical Trader subscribers click here to download the complete report. Last week wasn’t bad performance wise. Including two stopouts and 16 picks still open, the average gain was 5.6% on an average holding period of 19 calendar days, or less than 3 weeks. Non-subscribers click here for access. The list had only one active short. The rest were buys. Non-subscribers click here for access. There were too many signals this week to visually review all of the charts. I only added 2 picks on the buy side, and 3 shorts. If I had gone through all of the charts, there probably would have been a few more of each, but the list is big enough, so I stopped. Non-subscribers click here for access. Not a subscriber? Get price and time targets, and weekly swing trade chart picks, risk free for 90 days! Link to comment Share on other sites More sharing options...
potatohead Posted June 2, 2023 Report Share Posted June 2, 2023 Lee, looking forward to your take on the divergence with employment numbers vs the withholding tax data you follow. Link to comment Share on other sites More sharing options...
DrStool Posted June 2, 2023 Author Report Share Posted June 2, 2023 Updating that now. May 31 data just posted last night. It's really inexplicable. What the hell are they measuring? The reality is that jobs are not increasing at the rate that they say they are. But what does it matter? What matters is revenue, and that's not good. https://liquiditytrader.com/index.php/category/monetary/ Link to comment Share on other sites More sharing options...
DrStool Posted June 2, 2023 Author Report Share Posted June 2, 2023 Heading for 4282. Hard to believe, Harry. Link to comment Share on other sites More sharing options...
potatohead Posted June 2, 2023 Report Share Posted June 2, 2023 Don’t stress about the trillion-dollar TGA rebuild https://www.ft.com/content/46fbe596-d3d8-4a49-9eb2-fde3274ed06b?shareType=nongift The one being interviewed is primary dealer...What would one expect them to say.... Link to comment Share on other sites More sharing options...
fxfox Posted June 2, 2023 Report Share Posted June 2, 2023 Inverse the Gold monthly chart and ask yourself if you would go short here… Link to comment Share on other sites More sharing options...
fxfox Posted June 2, 2023 Report Share Posted June 2, 2023 Link to comment Share on other sites More sharing options...
DrStool Posted June 2, 2023 Author Report Share Posted June 2, 2023 Incomprehensible, That’s What You Are LEE ADLER 1 - LIQUIDITY TRADER- MONEY TRENDS JUNE 2, 2023 But First, A Number Before I get into the withholding tax data for May, the Treasury just posted the following on the heels of the signing of the debt ceiling deal. My reaction? HOLEE COWWWWW!!! Non-subscribers, click here for access. Subscribers, click here to download the report. Date Security Type Total Offering Total Publicly Held Maturing Net New Cash or (Pay Down) 06/08/2023 Bills $123,000 $101,998 $21,002 06/06/2023 Bills $164,000 $135,979 $28,021 06/05/2023 Bills $65,000 $25,000 $40,000 06/02/2023 Bills $25,000 $0 $25,000 That’s $95 billion in new supply in 6 days. And that’s only the beginning, whoa whoa whoa whoa whoa whoa oh oh oh oh oh oh oh uh oh. Non-subscribers, click here for access. You would think that that would leave a mark in T-bill trading, but so far at least, nothing has moved. It might be because the market was already at 5.42, which is 37 bp above the Fed’s RRP rate. Once again, the market leads, the Fed lags. The T-bills should start sucking money out of the Fed’s RRP slush fund. Non-subscribers, click here for access. It’s all dead money anyway until investors decide that they want to use it for something else. If it stays in the RRPs, yes it’s available to spend on stocks and bonds, but there’s a reason that $2.2 trillion or thereabouts has just sat there for the past year. And if it gets pulled out to go back into the Treasury’s cash account for rebuilding to the desired $600 billion, that cash won’t be spent in the markets, or the economy either. Non-subscribers, click here for access. That money is dead to me. It won’t be used to support stock and bond prices. As Treasury issuance explodes and the Fed continues to insanely pull $95 billion per month out of the banking system, something will break. That’s a given. Non-subscribers, click here for access. Subscribers, click here to download the report. KNOW WHAT’S HAPPENING NOW, before the Street does, read Lee Adler’s Liquidity Trader risk free for 90 days! Act on real-time reality! 1 Link to comment Share on other sites More sharing options...
fxfox Posted June 2, 2023 Report Share Posted June 2, 2023 Thanks for sharing that Doc 🙂 It would surprise me a lot if they would NOT be comming around with some new voodoo stuff in comming weeks. See, every time we think the FED is absolutely trapped they came around with a new alphabet soup programme. I would even have a name for it: FUALL247 or even better: FUBEARS365 😂🥂 Link to comment Share on other sites More sharing options...
DrStool Posted June 2, 2023 Author Report Share Posted June 2, 2023 Holee sheet. Link to comment Share on other sites More sharing options...
DrStool Posted June 2, 2023 Author Report Share Posted June 2, 2023 This should be the top. But if it snot. 4310. Link to comment Share on other sites More sharing options...
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