EVERYTHING is dropping.
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Exactly.....
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Not saying I told you so but yeah I'm totally saying I ****ing told you so.

At some point Powell will come out with some shit to make it recover slightly I imagine. He always likes to give the market a soft landing after he back hands it.
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What are you picking up? I was looking at the energy/oil sector but they are getting whalloped also. I'm guessing the Ukraine business has everyone wondering what's going to happen.

I'm watching everything from the sidelines trying to find something. What are your thoughts on where the bottom might be?
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SPY and QQQ....I don't really try to play sectors and stuff anymore.

As far as where I think the bottom is, well, who knows? We are at a key support level on a weekly chart right now on the QQQs. On a momthly chart we are not looking well. I think we could see another 10% to the down side.

Same with the SPYs.

I will say this though, days like today get you closer to the bottom but they are scary and hard to stomach.

Then again and I don't want to get overly-political but we have an Administration right now that is literally fucking up everything it touches along with a Federal Reserve that is way behind the 8 ball.
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PYPL on my radar if we find a bottom for a long term position as it’s retraced over 50% but is still a good company. Add ROKU to that too.
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Buying 25 more shares of DIS
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Averaging down!

Max pain!!!!
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Fakeout or breakout?!?!?!?!?!
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That's the trouble with tops and bottoms...you never know if they are in until they are in.

I wouldn't guess that we had much further to go on the downside here. We've dropped off heavy for various reasons but I think those reasons are getting fairly well priced in. The market will eventually get back to looking at earnings.

That is to say if the Fed & Biden Admin. don't fuck things up.

This is how I see things playing out for the near term...

Market corrects or in the minds of some, crashes...

People see their 401k go down
Spending on going out stops
Spending on frivolous wants stops
Overspending on housing stops

Generally speaking, spending starts to cool off

That should hopefully get some of this inflation in check.

The Fed needs to stop buying bonds.
The Fed needs to raise rates effectively but carefully. (Good luck)

The Biden Admin. needs to quit trying to dump trillions of $'s into an economy that already has an excessive amount of demand and excessive shortage of supply.

If things worked out we would go the Reagan route of raise rates, cut taxes.
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Seems like a lot of bargain hunting. :-)
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I'd be looking at resistance between $445-$450 on the SPYs.
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No way this wasn't on purpose.
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:-) you'd think but it wasn't.....
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AMC to the moon! :-)

MTG come out come out wherever you are.
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