CRWD took a dump today after earnings. PM was 158, now 132. Same for ZUO. I was keeping an eye on this one also since they had earnings.
just before closing yesterday, while i was monitoring my big winners, i interpreted the candlestick as either a doji or hangman, which indicates hesitation among traders, the precursor to a trend reversal. that, coupled w a RSI of nearing 80, prompted me to exit. will get back in again; ditto for crwd
my take is traders selling off their winners before leaving early, awa cleaning out their invenotory of stocks, to make it a 4-day week-end. for most years, labor day holiday is a 4-day w/e, this year it is a 3-day one
I think Fauci's statement about vaccine not being ready by end of Oct...and also profit taking before the long weekend? UAL, for example, was mooning, only to come back down to earth.
"Yaaay, 16000 getting laid off! Go UAL!" Sometimes the stock market can be depressing. Hopefully another day tomorrow where we tank a bit more. I don't want the market to collapse, but it needs to come down from the lunacy the past few months. If it's a real correction, it's still in progress.
Yep...another 10% down would be perfectly healthy and bring in some new money that has been on the sidelines for awhile.
It's because people who have been trading for 6 months ..ahem Portnoy ...thinks they are smarter than everyone...and just don't understand why stocks ever go down. When you buy in everything 40% off mid march, of course it will go up......now what!? imagine buying tesla at 538 (2690!!!!). It's like explaining to teenagers about being in love. I JUST DON'T SEE HOW WE WON'T BE TOGETHER FOREVER!
today, all the 2020 higher flyers have been hurt badly, except TSM. it's down slightly and appears to be forming a base, sitting on 20 dma for support, MACD is close to crossing the zero line, RSI has been hovering ~55-60
I think so. It's been overbought the last few weeks...wouldn't be surprised if it goes below 110 tomm.
