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8/3 Thread (General):
Thoughts on Spotify after the dip?
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Coach
Agree with the statement on market lacking breadth. That’s just the kind of setup you see before a correction/rug pull. without breadth, it’s really just dumping a handful of names that will create a downward spiral
I’m don’t disagree with this and am anticipating another September of pain before we hit new ATH’s by the end of the year. Nervous about 2022-2024 though.
Enthusiast
I am less bullish than I have been the past 3 or 4 weeks.
Back in June I called for a tech rally in July. I was right on big tech, but my call on semis was so-so (worked well depending which one you had).
Until breadth shows signs of improving, I don't like that the market is being pulled along by a handful of stocks. Even the traditional meme stocks are struggling. Plus with money flow into bonds, I don't like where the market is currently.
I have VIX calls for Oct, started today.
I think the correction could surprise in mid-august. 5-10%. Everyone is in anticipation of Sept, so a perfect time to catch people off guard is right before that.
Good luck timing the market
Subject Expert
The money flow into bonds says everything. The catch 22 I am trying to assess is what to do with my LEAPs for 2023.
Coach
Bond market is smarter than the equity market