Fun Fact #38
As a continuation from the last fun fact, the Chinese stock market is only open for 4 hours compared to the 6.5 hours that the U.S. is open. I think having a 1-2 hour break for lunch in the U.S. market makes sense.
For reference, I will be adding to my MU position for the long term (10+ years hold) as I believe the company is financially stable and highly profitable. The only concern is that the memory market experiences many boom and bust cycles, which could be devastating for the stock.
QQQ sold off a decent amount today, but tomorrow is the day that really matters. Apple will be reporting earnings around 4 PM tomorrow after the market closes. I honestly can’t see it going down after earnings, but that’s just me. I believe that the bad news has setup Apple for very low expectations, so any sort of good news will have the stock price sky rocket 4-5% to 172+. Also, I’m thinking a lot of people already sold before earnings.
Apple broke down through the 165 support level, but has now bounced back and closed right at that level again. This false breakout (assuming it holds), will cause the stock price to spike up as shorts panic cover.