The Nasdaq Composite swooned 1.5%, cutting below support at its 21-day exponential moving average. The Dow industrials shed 0.2%, while the S&P 500 stumbled 0.6% lower on the stock market today.
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So why is the stock market pulling back? What's going on team, it's ricky with tackle solutions, it's a question that a lot of people are asking as of right now, as we retreat from 180 day highs at 14 000 for forward slash nq, which is the nasdaq market. Nasdaq has a huge focus on tech, and you guys can see that it quickly pulled on back one of the things that we have tried to prepare for right with the idea of not being able to predict the future, but simply trying to prepare for it. Uh. This is something that we've been expecting, or at least waiting for for quite some time and the reason we say that is literally every single time that the overall nasdaq market hits 180 day highs.
It pulls on back in some form of way. So can we say that we're surprised that it pulled on back, i wouldn't necessarily say so, and if you are asking, why is it pulling on back in very simple terms? It is simply because of how overbought the tech market has been, and due to earnings and them being not as great as anticipated. It literally looks like there's no fundamental reason on why they're pulling back other than just technicals that again, the demand just isn't that high. With a lot of these tax stocks reporting worse than anticipated earnings, now is this something that you should freak out about at the end of the day, right for all those that have been super confident about buying at these super overbought levels? One of the things that we have said is no one freaks out on pullbacks.
That is well balanced right, no one that has enough money to buy right now at these lower levels is freaking out, but it's everyone that cannot tolerate pullbacks. We've said this so many times so, while everyone was buying at these overbought levels, what is something that we have been trying to simply prepare for right, because no one can predict anything but simply prepare for the good deals and look what we have going on right Now, right and and one of the things that i want to share with, you is just because you know, people begin to load up right now doesn't mean that you should as well the nasdaq market. Again today was one of the first major pullbacks uh that we have seen in quite some time, but it can easily continue to sell right back off. So for you to think that we're gon na buy the dip now and only begin to pick right back up.
Uh, that is also very naive for you to think right. So the way that i want to approach this dip right and i feel like this - is much more in a conservative way. You guys can. Let me know in the comment section what you guys think.
The way that i am preparing for this dip is the same intent that i had as of last week, every 10 dollars that tesla drops. I will load up on my position so today tesla dropped an additional, nearly three percent right. It closed yesterday, if i'm not mistaken, right around 684 and it hit lows today around 665. so because of that or 660, if i'm not mistaken so because of that, i'm just going to begin to buy a couple of shares. Does that mean that i'm going to go all in as of right now? No because we do not know if tesla's going to continue to continue to sell right back off. So why would we put ourselves in a position to fail and have no more buying power? If tesla continues to sell off same thing with my twitter position same thing with my netflix position, same thing, with my pinterest position and same thing with my pton and spotify, just like many of you guys. Yes, i am invested in these companies, but just like i made that video last week right, we don't know how much more something can sell off. So when we were talking about investing ten thousand dollars each into these three stocks, i said that it was only ten percent of what i plan to so now, as they present a little bit of a better deal.
Does that mean that i'm going to buy? You know 50 000, each of each one of those stocks. No, not necessarily right. I'm still gon na try to load up on these stocks that i personally see value in, but in increments that make sense to me not approach it in a super aggressive way and hoping that the market recovers. So again, with a very simple idea of.
Why is the market pulling on back? Earnings were worse than anticipated and as the overall nasdaq market you know literally, you know, we've talked about this. It was consolidating for so long at that 180 day, high resistance range, and now we finally give back you know we allow the market to breathe, and now everyone begins to forget. If you actually look at it, the market's only down nearly two percent and it has a lot more to go. I really don't think it's going to pull back that aggressive, but this is why it's so important to stay prepared.
It's not about buying when everyone else is encouraging you to buy at these overbought levels but buying when the deal actually presents itself. So, instead of buying two weeks ago, when we were at 180 day highs now, there's actual deals, there's actual margin to be made up, and this is in my opinion, when it actually makes the most sense. So i loaded up a little bit more on tesla. I loaded up a little bit more on twitter and all the other stocks that i plan to buy in.
I did it in a way that is tasteful in the sense that i did it in increments. That makes sense to me and not in a super aggressive way again hoping that they have to recover right away. So let me know in the comment section what you guys think: are you going to be someone that is going to be loading up as the market pulls on back or are you someone that doesn't have enough buying power to buy at those lower levels? And what can we do better next time, even on this channel? What could i do better next time an effort to prepare for pullbacks like this, because if i'm not mistaken, every single time that i talk about the nasdaq market, i always at least try to do my part in simply reminding you right. We never like to tell anyone what to do, because no one can predict anything right, but we can prepare for it. So when the market is at 180 day highs and it's been consolidating there for about one month right - it's not very surprising that it pulls back. Just a little bit so uh, i can't say right: it's still a tough pill to swallow and it would be naive for me to say anything other than that when the market pulls on back but thinking big picture, and this is the final message that i want To leave with you guys, thinking big picture if you're able to take advantage of the good deals and the quality stocks you're at least able to prepare your future self for a you know better future. So i really do appreciate you guys time don't forget to stay connected. We upload new videos every single day on our youtube channel and also we have a free facebook group with the first link down below with over three hundred and eleven thousand members.
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A financial system free from many of the burdens and pitfalls created by trusted intermediaries and powerful masters sounds like a beautiful future we should all want to usher in..
Whoever believes that people sold of their stock because the capital gains fear is still border line sheepish… why would someone activate the tax implication immediately by selling off… the market would wait for short term capital gains to pass then liquidate 🤷🏾♂️
Man I came back to the market at a crazy time… 13k to 6k in several months. Hit some crazy gains along the way and have taken some massive losses clearly. I enjoyed your interview with whoever that guy is that knows nothing about stocks. Soon enough I’ll be at your level
I'm not selling anything! "Sell in May and Go Away." I DON'T THINK SO! Here's my motto and what I'm doing…"Buy Dips in MAY and Sip Away." Red Days and Red Wine baby! Red Days and Red Wine.
Yo Ricky you’re awesome! I can appreciate you being careful with your with your advice. Let’s be real for a second though. NSCC ruling 801 passed this last Monday. The final piece to a complete sell off is NSCC-802. ALL SHORTS MUST COVER!
If that passes this Friday that means all shorts every second of the day will be monitored on their available liquidity. If they do not have the funds to cover their shorts they have one hour to produce it. If they cannot produce it within an hour the DTCC will begin liquidating assets of any hedge fund they cannot cover their shorts. This is a game changer for the entire market if this law passes. Which I don’t see why they wouldn’t since the SEC is under so much global scrutiny.
Naked shorting is counterfeiting. It has been illegal since the 2008 debacle and it’s 2021 and these crooks are still up to no good. Those gigantic dips that were seeing in all of these large market securities is not a coincidence. They are selling off preparing for the gamma squeezey.
Be careful out there people the world is watching the US economy and hopefully the SEC does it’s job, this time!
During pandemic when times were tough market was doing amazing under Trump.All the companies are doing very well ..second Biden gets in the office everything goes downhill this is all political they want you to be poor .. I believe whoever sticks out will see amazing results ..
It's Going To Crash Eventually, everything is overvalued. The Economy has been dead but stimulated by the Government & Banks.
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I pulled out of the stock market because my stockbroker tried to take double the money. Not long after there was a financial crash. I would have been down for sure.
"Courage taught me no matter how bad a crisis gets … any sound investment will eventually pay off. Do not fret, it would always bounce back as it has always done.
THE STOCK MARKET IS CURRENTLY 200% OVER INFLATED YOU HAVEN'T EVEN SEEN IT CRASH YET
SELL AND GET OUT BEFORE YOU LOSE BIG TIME
I'm convinced that the big investors and analysts are trying to scare us to keep us poor and ignorant to the market.. because its steady doing good after all the jobless and market crash talks..
Just another healthy pullback, it's always good to keep some capital on the sideline to enter right now or if it keeps dropping to wait for confirmation and add then. I would say nothing to worry about here. Just my opinion on how it looks others might disagree.
Today I’m buying, tomorrow I’m selling, selling everything today buying back in again. It’s better advice to not time the market
Part of the sell off is people who’ve made money have to pay their capital gains by the 15th of May, so we may see some additional selling. Adding small amounts to my holdings, similar strategy Ricky is doing. Watch volume, then price action, plus support and resistance levels before entering.
Anyone who listens to this clown wont succeed in the markets, literally every tech stock outperformed earnings & had record revenue except Netflix. Ricky claims the opposite happened.
It has absolutely nothing to do with the ratios earnings or any of that nonsense it has to do with Janet yelling saying interest rates are going to move up. Learn about money and our financial system educate yourself these are not the reasons the market is selling off please.
Simple answer Joe Biden. I bought tech when it was not hot then went up got out then when covid hit went to all consumables and social Media. Snap 5 sold at 58 cpri bought 8 about to sell when it hits 60 Nwl at 14 at 27. MO at 32 great dividend it's at 47.
HEAT – CSX – Hillcrest Energy Technologies – ReGen X motor for EV industry – North American and European Union License – inventor Thane Heins – search YouTube – Huge upside ! Pay the ask – Let It Run🚀.
A reminder that no one can predict, all we can do is prepare! I personally view this as a better time to buy versus 2 weeks ago when everyone is hyping everything up! Take time to know when deals are present!