Shopify Subordinate Voting Ord Shs Class A T.SHOP

S&P Could Drop to 3000 or much Lower

[Bertanderson]

https://www.foxbusiness.com/markets/bank-of-america-warns-new-lows-sp500-inflation-shock-aint-over
Bank of America warns that inflation and rising interest rates could see the S&P drop another 22% by end of October. If it's that soon and we're still raising rates to control inflation, I would argue that the pain isn't over and we could see much lower lows.

[1condor]

This seems so tempting at 36 bucks...but my market targets are about 15 percent lower...so will wait on the sidelines and watch the carnage. SHOP at 30 bucks is possible.

[stwatcher]

i would look at the charts first . If this level doesnt hold on SHOP. Its a freefall to 13 

[stwatcher]

Although seems unlikely but the chart is aweful

[1condor]

stwatcher...I see the S&P bottoming around 3200 and NAS around 9200 by year end or very early 2023. There will be failed (sucker) rallies along the way...but the trend is down. Of course this is only my call on the market based on my own analysis. I have been heavy in cash for several months and am itching to put some to work...and will be looking to put some to work in SHOP. Currently not a

[Bookworm28]

1condor, I've been heavy in cash too, waiting for a buying opportuninty. It looks like a lot of people and pros have been for a while. The market rarely goes straight down, so I decided to back up the truck when SHOP went under $37 today. It's just too cheap. Yields were softer today, and I thought that would support the market, BUT today's strong jobs number put a damper on things. i

[Bookworm28]

Correction: I didn't see the PCE numbers are being released Friday morning. It should be interesting.

[1condor]

Seems like a good point to start initiating a position in this stock down here around 37 bucks. Not sure if we are near a bottom...but suspect it is worth a least a trade.

[1condor]

Took an initial position this morning at 34.75. Will add on weakness.

[jx7000]

In the $20s at least this downleg, I think.

[Abruzz0]

Quite possibly because management has done nothing to benefit us at all.

[Bookworm28]

It's a great trade, but a bit risky one in this environment. It wouldn't surprise me to see a drop into the $20s as some have eluded to. This market is brutal, and it's only going to get worse. With regards to management, one thing that I'm not 100% sold on is their venture into POS systems for brick-and-mortar retailers. It's a crowded space, no pizzazz, and probably low