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Post by huh on Oct 2, 2014 7:13:06 GMT -5
10 Things You Need To Know Before The Opening Bell Good morning! Here's what you need to know: It Looks Like A Showdown Is Coming In Hong Kong. The Hong Kong government, backed by Beijing, is ordering protestors to end their blockade of the city center, but protestors are still demanding that Hong Kong's leader, Leung Chun-ying, step down by the end of Thursday. A Eurozone Monetary Policy Decision Is Coming. The ECB will publish its monetary policy statement at 7:45 a.m. ET. That will be followed by ECB President Mario Draghi’s press conference at 8:30 a.m. Economists expect no change in the already low interest rates. However, we should get details regarding the ECB's other efforts to stimulate the economy. Argentina’s Central Bank Chief Is Out. Carlos Fabrega, the head of Argentina’s central bank, has quit. He took a different view on the country’s struggle with the hedge funds holding out on a bond haircut deal, favoring negotiations. Major European Markets Are Down. France’s CAC 40 is down 0.33%, Germany’s DAX is down 0.14% and the UK’s FTSE 100 is down 0.36%. Asian markets had a bad night, with the Hang Seng closing down 1.28% and the Nikkei dropping 2.61%. Oil Prices Are Plunging Again. Oil is showing a significant drop in price for the third day in a row, with the price per barrel now solidly below $90. SPONSORED BY Capco What will the finance industry look like in the years to come? Find out how the financial supply chain is reshaping the "new bank" at the 2014 Banking Reloaded Conference on October 29.Register today to join others in learning about the future of banking. The Bank Of England Wants New Powers To Curb The Housing Market. The central bank wants new powers to curb lending, but approved the controversial Help to Buy scheme of mortgage guarantees. Toyota Isn't Worried About Russia. Despite the slump in demand for car sales in Russia as the economy slows, Toyota is sticking to its target of increasing sales to a million vehicles in Europe next year. Bank Of America’s Chief Executive Is Now Its Chairman Too. Brian Moynihan was named as Charles Holliday’s successor Wednesday evening. PIMCO Recorded Massive Outflows. The fund saw $23.5 billion in outflows from its flagship Total Return Fund in September, the seventeenth straight month in which the fund has shrunk, with the largest loss occurring on the day of Bill Gross' resignation from the firm. Two Massive French Carmakers Want Faster Reforms. According to the Financial Times, both Peugeot Citroen and Renault want President Francois Hollande to hurry up with his labor market reforms. Read more: www.businessinsider.com/opening-bell-oct-2-2014-2014-10#ixzz3EzNePD9y
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Post by huh on Oct 2, 2014 7:13:42 GMT -5
10 Things In Tech You Need To Know Today Rovio, the parent company of Angry Birds is cutting 130 people, or 16% of its workforce. Yet another sign that mobile gaming is a tough business. Here's what the activist investors that have taken a stake in Yahoo really want: They will spin out the core Yahoo business, and keep Yahoo as a company that just owns shares of Alibaba and Yahoo Japan. Cloud storage company Box has pushed back its plans to IPO until 2015. It filed for its IPO in March of this year. Google donated $600,000 to San Francisco to buy and install equipment to provide free WiFi in 30 public parks, plazas and recreation areas, says the AP. Here is the App 100, our list of the 100 greatest apps in the world. Elon Musk hinted that he's going to unveil a new car, the Tesla D on October 9. Perry Chen, founder of Kickstarter, has a new company called "Dollar a Day" that takes the daily deals model and applies to charity. You donate $30 per month to one charity picked by Dollar a Day. As it scales, it gives more and more money, but still only costs you $365 per year. Apple's part-time designer Marc Newson designed this beer keg for Heineken. Paul Graham, founder of startup school Y Combinator, gave a lecture on "the things to remember if you want to prepare yourself to start a startup." Apple might turn on Apple Pay, its mobile payment system on October 20. Read more: www.businessinsider.com/10-things-in-tech-you-need-to-know-today-october-2-2014-10#ixzz3EzNrRYv8
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Post by huh on Oct 2, 2014 7:14:35 GMT -5
Frontrunning: October 2 Submitted by Tyler Durden on 10/02/2014 - 07:38 As we warned in May 2013... Gross Exposes $42 Trillion Bond Market’s Key Flaw in Exit (BBG).... hint: no liquidity WTI Crude Slips Below $90 for First Time in 17 Months (BBG) Traders Thank Fed for Once-in-Decade Surge in Profit (BBG) Islamic State committing 'staggering' crimes in Iraq: U.N. report (Reuters) Philippine Islamist militants threaten to behead German on October 17 (Reuters) Draghi’s Buying Spree for the ECB Might Start Modestly (BBG) Russian Officials Say No Plans for Capital Controls (WSJ) Indians Join the Wave of Investors in Condos and Homes in the U.S. (NYT) Leader of Mexican drugs cartel captured (FT) Dallas Ebola patient vomited outside apartment on way to hospital (Reuters) Goldman chat room a message to Wall St (FT) Angry former workers: Angry Birds Maker Rovio to Cut up to 130 Jobs in Finland (WSJ) Steven Cohen Urges Court to Dismiss Ex-Wife’s Fraud Suit (BBG) As PIMCO bleeds assets, Gross shows risk of star culture (Reuters) Caltech Leads World University Rankings for Fourth Year (BBG) U.S. Apartment Vacancies Rise for First Time Since 2009 (BBG) Commodity ETF Outflows Reach Highest This Year on Supply (BBG) China backs Hong Kong leader CY Leung over tear gas (FT) www.zerohedge.com/news/2014-10-02/frontrunning-october-2
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Post by huh on Oct 2, 2014 7:35:36 GMT -5
Initial Jobless Claims Act: 287K|Cons: 297K|Pre: 295K
Continuing Jobless Claims Act: 2398K|Cons: 2438K|Pre: 2443K
With recent volatility, I thought there would be a big reaction in futures with the release of jobless claims, up or down. They didn't do anything. [shrug]
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Post by huh on Oct 2, 2014 7:51:14 GMT -5
Pretty much the only thing I'm watching today - IWM. Drew these channel lines back in May. Held support yesterday on the third tap. Expecting it will fall through, but likely to bounce some first. That support sits around 107.70.
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Post by crumbdon on Oct 2, 2014 8:12:18 GMT -5
Even if "they" do run this thing back up today (only for an oversold bounce), they will likely sweep all the stops underneath first. Hang on
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Post by huh on Oct 2, 2014 8:46:08 GMT -5
AMZN trying to hang on to 315 FIB support here. But has lower targets than that from other patterns. Would need a push over 320 to flip to short term bullish.
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Post by huh on Oct 2, 2014 8:50:08 GMT -5
Although 1930's should provide strong support, I'd love to see SPX get within a % of it's 200dma. (doubt it would actually hit it) Gotta hit that at least every few years, right? Imagine the bullish power move that would come off of that. I'd bet enough for a multi-day/week blow-off top anyway. Well, a bear can dream anyway, can't he? Feeling more and more like that SPX 1930's support will not hold. Increasing odds we'll see a test of August lows. And look at how that 200dma is climbing right into that same support area.
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Post by huh on Oct 2, 2014 9:13:46 GMT -5
IWM 107.71 the number to watch. Lose that now and likely to see some panic selling in SPX soon after.
JMHO
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Post by crumbdon on Oct 2, 2014 9:36:53 GMT -5
IWM 107.71 the number to watch. Lose that now and likely to see some panic selling in SPX soon after. JMHO Hasta luego.
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Post by huh on Oct 2, 2014 9:41:26 GMT -5
Sí...seguro que no era mucho de un rebote
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Post by huh on Oct 2, 2014 9:57:56 GMT -5
And to hell with humility. I'm taking props for this one...Even if we were to see a strong pullback/short term top here, I think it would likely go something like this (purple lines): [chart] That first pullback is based on a small double-top here and would be the worst case pullback while still retaining the bullish momentum (holding the FIBs). Everything else is based on what NDX, IWM & XLF have done recently within the confines of channels, symmetry, FIBs and supports/resistances. JMHO Forecasted this on 09/19, right at the top. Here's out it played out (purple lines were the projection). Can't get more accurate than that (move over Bulkowski & DeMark! Huh's coming thru). That downside target is ~1932.50/1932.75. But hitting it a day early and VIX hasn't hit the minimum upside target yet of at least 18.70's. So likely to see a quick overshoot to August lows before that next bounce begins.
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Post by huh on Oct 2, 2014 10:03:47 GMT -5
That call was good. But if I'm right about the squeeze that's building, that one will blow people away! (Looking for SPX 2065 on Halloween!)
Everyone have their buy spots ready? I'm thinking the bottom within the next 3 trading days.
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Post by Herceg on Oct 2, 2014 10:48:48 GMT -5
That call was good. But if I'm right about the squeeze that's building, that one will blow people away! (Looking for SPX 2065 on Halloween!) Everyone have their buy spots ready? I'm thinking the bottom within the next 3 trading days. Wow...........you are optimistic..............I don't see it as I am expecting a complete fall out and the 1800's first before any move back towards 2000. JMO and BOL.........
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Post by huh on Oct 2, 2014 11:01:01 GMT -5
That call was good. But if I'm right about the squeeze that's building, that one will blow people away! (Looking for SPX 2065 on Halloween!) Everyone have their buy spots ready? I'm thinking the bottom within the next 3 trading days. Wow...........you are optimistic..............I don't see it as I am expecting a complete fall out and the 1800's first before any move back towards 2000. JMO and BOL......... Definitely could happen, especially because IWM looks so bad. But I'm telling you...SPX hasn't tested it's 200dma in I don't know how long. And more importantly, every time VIX has tested the top downtrend line over the last two years, the market has turned up. Remember my calll for that at SPX 1660? Market was up nearly 25% since. I may be way wrong. But definitely worth taking a long shot at it with a tight stop to limit the loss in case I am. And I've tried not only showing the potential runners should the market bounce, but also their upside targets and supports (AAPL, AMZN, GS, etc.). And look at something like AKS. Hit the downside target of 7.25, yet it's holding while the market continues to fall. Maybe it'll fall more, but there must be some buying for it to hold up like that. Besides, this H&S/RS-squeeze-to-new-highs thingy is a perfect set-up. Been tested and proven many times in many names/indices. And if VIX & downside targets are correlating with it, well then... JMHO
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Post by huh on Oct 2, 2014 11:03:59 GMT -5
I don't know. Maybe I'm wrong. And if I am, I could lead people to financial loss - that would make me feel horrible.
Again, only my opinion. I'll stop pumping the idea (in case I am wrong).
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Post by huh on Oct 2, 2014 11:07:01 GMT -5
One last thing...
Remember the other day when those potential buy stocks were falling hard, yet indices were barely moving? Well, the last two days the indices have fell hard, yet those same stocks aren't falling near as much.
On top of that, the dollar is pulling back today. It's been rallying since July 1st, but today, when fear is really creeping in, the dollar decides to fall.
I'm seeing many things pointing to 10/7 as a significant date (rising wedge apex in VIX, support FIBs lining up with support lines, etc.). have to wait and see if that date is significant.
It's all a shell game. Keep your eye on the pea.
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Post by crumbdon on Oct 2, 2014 11:23:19 GMT -5
Yesterday the 10-yr note showed fear. Today-not so much. If you're right, Huh, post a link where I can mail my subscription fees to Props to you, man!
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Post by huh on Oct 2, 2014 11:28:07 GMT -5
Yesterday the 10-yr note showed fear. Today-not so much. If you're right, Huh, post a link where I can mail my subscription fees to Props to you, man! LOL. When it comes to market calls, if someone's advice is good enough to pay a subscription fee for, then they shouldn't need that subscription fee. That's how I've always felt anyway (and why I've never paid anyone subscription fees). But please don't forum slap me...I love Hammondkeys and ITMS is really, really good. Both definitely worth the money. It's the analysts, or CNBC hosts, guests & other supposed 'experts' I'm referring to (though I like Carter's TA).
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Post by huh on Oct 2, 2014 11:47:56 GMT -5
IWM 107.73 resistance now (former support & 76.4 FIB from down move under that support)
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