Saturday Review’s recording (for 9/10/16) …That’s going to leave a mark.
What led to Friday’s plunge? Was it overdone? Why might it be duplicated Monday, and to what degree? What is the alternative, and what signs will tell us which scenario is playing out? These and other questions are answered in this weekend’s Saturday Review, along with many great questions posed by attendees. And as usual, my answers are designed to include useful examples of how my methodology helps the market speak honestly to you.
The following stock requests were reviewed in this order:
FB, AMZN, NFLX, GOOGL, GDXJ, WYNN, RARE, BAC, WDC, MU, VRX, CMG, TWLO.
09/10/2016 09:27:58 David B: Good Morning
09/10/2016 09:28:01 G: good morning
09/10/2016 09:28:07 Mark Glezer: gm
09/10/2016 09:31:33 ljr mobile: gm
09/10/2016 09:40:40 Mark Glezer: is there a potential for a 200 pts day Mon/Tue?
09/10/2016 09:46:30 Mark Glezer: when NDX printed new highs on Mon, CNBC reported that FANG stocks are breaking higher, do u think is being trumped by the mkt downturn?
09/10/2016 09:54:17 Mark Glezer: does Fri action suggest that a downturn, even if interjected with a bounce will likely develop very fast?
09/10/2016 09:57:43 David B: options expiration could be influential or to early in the week for it to be a factor?
09/10/2016 10:01:53 Bill G: Would a test of lower prior highs over next couple of days become a bottom and still allow for new highs?
09/10/2016 10:03:59 Mark Glezer: Carter Worth from Oppenheimer said that
09/10/2016 10:06:39 Mark Glezer: if we rally from a gap up above 2138, would u short when we get to higher prior lows?
09/10/2016 10:10:01 David B: could a lot of the selling be discounting what the market thinks the FED is going to do and if they raise then we may rally?. or is this too far out to be looking at this?
09/10/2016 10:10:29 Mark Glezer: that’s me asking, not Carter hahah
09/10/2016 10:10:41 ljr mobile: do u think this is a short term or long term trend change? weeks/months dare I say years?
09/10/2016 10:12:52 Mark Glezer: if they don;t raise we plunge, maybe after a knee-jerk reaction?
09/10/2016 10:14:12 Mark Glezer: lol
09/10/2016 10:16:57 David B: is this wasn’t a friday what we saw could we talking about a multi session decline or friday or is this not a factor here?
09/10/2016 10:21:16 Mark Glezer: Mon gap down might just invert if we don’t gap under lower prior highs?
09/10/2016 10:21:16 David B: there was talk in the market about bollinger bands being very narrow and a sharp move was going too happen. was there anything in your work was indicating this was going to happen?
09/10/2016 10:22:09 Mark Glezer: what would be the best bottoming action Mon ?
09/10/2016 10:23:21 ljr mobile: the brexit lows look a lot like that “throat” pattern last August that we hit limit down
09/10/2016 10:27:33 ljr mobile: we tested prev years low
09/10/2016 10:30:48 ljr mobile: stocks: $wynn, $rare, $cmg, twlo
09/10/2016 10:31:08 ljr mobile: no positions in any
09/10/2016 10:38:01 ljr mobile: not sure
09/10/2016 10:38:13 ljr mobile: just relative strength
09/10/2016 10:38:18 Mark Glezer: BAC
09/10/2016 10:38:32 David B: WDC,MU
09/10/2016 10:39:15 Mark Glezer: VRX – still going to zero, maybe with mkt’s help?
09/10/2016 10:47:51 Mark Glezer: can BAC exceed 17.07 target or it’s highly unlikely provided it even gets there?
09/10/2016 10:51:44 Mark Glezer: thx much
09/10/2016 10:53:52 Mark Glezer: Bill Ackman has 10% or so
09/10/2016 10:58:09 ljr mobile: thx great review today.
09/10/2016 10:58:22 Mark Glezer: thx much