Agree on your observation here.. AAPL has this strange weight on it eventho it is the cheapest tech stock in terms of valuation.
Super expensive stocks like LNKD, AMZN, TSLA all at sky-high valuation are being pushed up.

Market already recovered half here ...as usual again, we have seen this game played over and over.
The thing is.. what's next?

Oil is back to the 49'ish again... time to lighten up once again.
Let's continue to play this range (45.xx to 50.xx) until it breaks out.

This post has been edited by danmooncake: Jun 29 2016, 11:42 PM

Amazing isn't it. XLE (same goes for Crude Oil in terms of percentage) now is back to the day prior to the so-called Brexit fears.
This is as-if last Friday-Monday price collapse didn't happened.

This post has been edited by danmooncake: Jun 30 2016, 02:20 AM

It's funny how the crude inventory drawn down (this week after EIA report for week of June 24th) spiked up the bulls side so much more than when we had a lesser drawn (the prior week).. prices didn't go down much at all.

IMO, those inventory numbers didn't matter much at all... but the market price over anticipating demand here.
All eager to spike the price up to test and retest until that $50 barrier is broken.

But, time isn't on the bull side much longer. In two or more months, seasonal driving season will wind down in North America, more and more rigs will start to fire up again, we'll go back to doubly oversupply mode again by the time production catch up.

This post has been edited by danmooncake: Jun 30 2016, 03:20 AM

Oil retreating ahead of the long weekend for US. So, they're taking profits already knowing that the people has pumped up to the max because next week, lesser cars will be on the road. Hedge funds are selling into it - and at the same time, the Arabs are giving additional discounts for all buyers of their oil against the benchmark. They also know they got tons of oversupply here.
All these are against prices from going higher than $50.

Again, we're continue to see the same range bound $45-$50 price for a while.

$50 (sell)
$45 (buy)

Yup.. they did it last night, telling their Asian clients, hoping they will buy more.. it was reported by Bloomberg about 3 hrs ago.

After 3 days.. it is like Brexit? What Brexit? Here we are again, as if nothing can stop this bull..

We'll have to wait for another scary story.

I think the Aunty Yellen needs to come out now and surprise the bulls with a .25 pts rate hike now.

This post has been edited by danmooncake: Jul 1 2016, 11:10 AM

Oil seems to be flat but general stocks seems to be back to the same level prior the Brexit.
Risk appetite back on here.

If one fell asleep last week and woke up today, Brexit didn't happened.

Have u notice that eventho crude has recovered half its value from the demise prior to the Brexit,
the weekly trend for crude price seems to be pointing downwards here since the peak in early June?
Unlike the general market.. crude seems to be forming a lower high and lower low trend.



This post has been edited by danmooncake: Jul 2 2016, 12:26 AM

Congrats! That's right bro!.. some is always better than none or could be worse -
some sold out at the bottom on Monday on Brexit fears.. but with the central banks holding at extremely
low interests and some bond yields at NEGATIVE, money got no where to go but in stocks.
It is crazy... they're driving high valuation again.

Here we go again... from almost 50 last week, we're moving down again to 45.xx
Same range play again.

Unfortunately, didn't get on the short side last week to hold for the long weekend but
will wait for opportunity again if we touch 45.xx one more time to get on the long side.

As long as there's a meal on the table, ok-lah!
Just don't let the bears steal your meals.

This post has been edited by danmooncake: Jul 6 2016, 12:00 AM

Oil is indeed getting weaker... almost 50c to hit that 45.xx level now.

So fast.. already lost 5% within a day.

They already returning... last report on Friday, 10+ rigs back online yet market ignores it.
Now suddenly fears come in..after the US Independence day.

All right... 45.xx is here tonight.. Time to load up.

It's working... back to $47 already.

SP500 bounces off that 2076 support line (50ma), good support here.
So, I think they're attempting to turn this ship around for one more surge up.

Amazing... 47.50 and moving higher.

I think for tonight, 47.50 is the peak here.. sellers coming in already.
Tomorrow, I think we got more upside. Going to keep my shares here for one more day.
Be a bit greedy tonight.

Whew! That's a close call..Lucikly, unloaded the first thing it opens green.
It's crazy... from 48.xx then bam.. straight down to 46.xx
Can't trust this market.

2nd chance here... relative to crude, XLE isn't back to yesterday low but scored a lower high.
So, I'm going back in again.