before the Fed announcement ~ 2PM, est afterwards, MSFT finished today's trading on an uptrend, where today's high surpassed yesterday's high. this outside day gives credence to the TA depiction of a bounce off the 50 dma
A lot of that volatility in December is due to the fact most pro traders and market people go on vacation and the market is in the hands of algos and dork retail traders like us. Some of it is because they close out of positions rather than risk having them open during those vacation days and also because of tax-loss harvesting and locking up gains from the previous year. I'm willing to bet rising interest rates as well as locking up profits is why much of the downturn in overvalued tech stocks took (is taking?) place. Next year will be interesting for sure.
similar action in all the SaaS stonks, but ASAN stands out to me because the CEO continues to buy his own stock hand over first (he's one of the 4 FB founders, hence he's loaded).
i know valuation matters, but if tech growth can keep chugging along at 25% to 50%, eventually they will outgrow and surpass the valuation? heck SNOW just posted 110% rev growth recently.
The sad part is we are just the data points for the advanced AI that's 8 million times smarter and faster than us. All we can do is beat the fellow idiots out of some cash.
on Nov 29 nice gap up today---catapaulting off the 20 dma---may surpass the previous high of 57.44 by Mon, 21 Dec
my bet is that AAPL will retrace to the 50% retracement level. ~~157, after its late Jan/early Feb ERS in view of this conviction, sold this bearish CALL spread, using Mar expiration bto 175 CALL, sto 165 CALL---collecting a premium in advance for $5.20---defining my max risk to be $4.8 (size of the spread - premium colllected)
