KN0CK

Market agnostic stock trader |

Tweet about the price action and volume of the indexes and major stocks |

Also mention growth-at-a-reasonable price picks

[KN0CK @Aniam_Thoughts]

Another wonderful chart.

$SPX $SPY ABOVE the 5-year average despite all the economic headwinds.

I want it to hit at least a forward P/E of 17 (which is still above the 10-year avg) before being comfortable with a long-term long.

[FactSet @FactSet]

The forward 12-month P/E ratio for $SPX of 19.1 is above the 5-year average (18.6) and the 10-year average (16.8). https://t.co/xO66q8zAOZ

[KN0CK @Aniam_Thoughts]

@Tutankhamun1989 Hello, I'm alright. Decided that I want to keep my thoughts private. :)

[KN0CK @Aniam_Thoughts]

If $AAPL is going to trade like a meme stock, then it needs to correct like one too, which it hasn't done since 2020, at best.

[KN0CK @Aniam_Thoughts]

Exactly this. Keep seeing people assert that this rally is b/c of short covering or puts... no, it's b/c people are going long on these companies and pushing them higher, and then the FOMO chasers come in and make it more extreme.

[KN0CK @Aniam_Thoughts]

@kingkang80 Yep. $MSFT is one of the few big tech names that doesn't have a historically preposterous valuation, and it has been relatively weak for this entire rally.

[KN0CK @Aniam_Thoughts]

Congratulations, this is officially the most absurd rally since the start of the pandemic (and maybe of all time when you consider the circumstances)

[KN0CK @Aniam_Thoughts]

And I was starting to believe that the market might return to a sensible state.

Funny how vigorously that has been rejected in just 1.5 weeks.

[KN0CK @Aniam_Thoughts]

Looks like $AAPL and $TSLA will finish green for the 8th day in a row.

You can't make this stuff up.

[KN0CK @Aniam_Thoughts]

Please, just keep making your products even more exorbitantly priced... then maybe people will stop buying them without considering other options that offer all the same services for much less. Then, maybe $AAPL can return to a reasonable valuation.

[*Walter Bloomberg @DeItaone]

*APPLE IS WORKING ON A HARDWARE SUBSCRIPTION SERVICE FOR IPHONES

*APPLE HARDWARE SUBSCRIPTIONS EXPECTED BY END OF 2022 OR IN 2023
$AAPL

[KN0CK @Aniam_Thoughts]

The FOMO chasing after $NVDA resembles what it did in October and November (where it later dropped more than 40%).

A total disregard for fundamentals and technicals.

[KN0CK @Aniam_Thoughts]

And small caps $IWM have been weak the entire rally after showing relative strength all of February and early March.

[KN0CK @Aniam_Thoughts]

With the exception of the first day of the rally (3/15), $MSFT has been relatively weak to the $QQQ every day of the rally.

[KN0CK @Aniam_Thoughts]

Have a pretty nice position in $GLD now. This is a longer-term trade, don't care if it drops negative in the short term.

[KN0CK @Aniam_Thoughts]

With the exception of $NVDA the volume in big tech so far today is really weak.

[KN0CK @Aniam_Thoughts]

Considering putting some of my cash in $GLD. It's been relatively very strong compared to most equities since the beginning of this year.

And even if equities somehow continue moving higher, $GLD won't necessarily drop (unlike going short against the equities).

[KN0CK @Aniam_Thoughts]

$NVDA goes up 32% in two weeks on no news, then it drops 6% and people think, "Wow, what an amazing dip-buying opportunity!"

Just wait a little longer, and you'll get a much bigger dip :)

[KN0CK @Aniam_Thoughts]

@phunint99 Yeah... it is ridiculous but it has so much bullish momentum behind it now (based on technicals), that you have to wait for it to cool down and start consolidating or dropping before betting against it.

[KN0CK @Aniam_Thoughts]

Honestly would not be surprised if tech is green tomorrow, a weaker green day (somewhere between flat and 1.5%ish), but expect $AAPL and $TSLA to finally be red

[KN0CK @Aniam_Thoughts]

Quick look at the futures before bed and they are up a decent bit. Won't necessarily last into tomorrow, but not all that surprising to me. This rally had so much momentum, it needs time to cool off before dropping.

[KN0CK @Aniam_Thoughts]

$BIDU valuation is a lot better

[KN0CK @Aniam_Thoughts]

As much as $BABA has dropped, the valuation still is not attractive to me given how the company is expected to perform. Add on top of that the regulatory risk, and I don't see how it's an attractive buy.

[KN0CK @Aniam_Thoughts]

Interestingly, $CHGG has been strongly out-performing tech since late November. Their valuation is pretty reasonable, maybe slightly over-valued, which may explain the strength.