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Post by huh on Oct 20, 2014 7:22:36 GMT -5
10 Things You Need To Know Before The Opening Bell Good morning! Here's what you need to know. 2 Japanese Cabinet Ministers Have Resigned Amid A Corruption Scandal. Japan's Prime Minister Shinzo Abe suffered a double setback Monday with the resignations of two female cabinet ministers over claims they misused political funds. IBM Earnings Disappointed And The Share Price Is Crumbling. Shares are tumbling in premarket trading after the company announced disappointing Q3 earnings. The business services giant announced $3.68 per share of operating earnings from continuing operations, which is much weaker than the $4.32 expected by analysts. Major European Markets Are Down. France's CAC 40 is down 1.42%, Germany's DAX is down 1.58%, and the UK's FTSE 100 is down 1.04%. But Japan's Nikkei climbed 3.98% during trading. China’s Slowdown Is Going To Be Faster Than Expected. Chinese growth is set to be slashed in half in the next decade according to the Conference Board. The Boston Fed’s President Says Rates Might Not Rise Until 2016. The recent volatility in financial markets reinforces the need for the Federal Reserve to be patient with its policy stimulus, according to Eric Rosengren. Nigeria Is Officially Free Of Ebola. The World Health Organization has declared Nigeria Ebola-free, after a 42-day waiting period that represents twice the maximum incubation period of 21 days. Investors Want To Buy Reebok. A consortium of investors from Hong Kong and Abu Dhabi is interested in buying the Reebok brand from Adidas for 1.7 billion euros ($2.2 billion) Germany’s Tax Income Is Still Rising. Monday's monthly Finance Ministry report showed the government's September tax income up 4.7% compared with a year earlier. Lufthansa Just Grounded Thousands of Flights. The German airline canceled 1,450 flights after a pilots union called for a strike on Monday and Tuesday, adding to travelers' misery after millions were left stranded by a weekend-long train drivers' stoppage. Big Economic Data Is Out From China Later. At 10 p.m. ET, retail sales and industrial production figures will be released by the Chinese government. Analysts expect GDP growth of 1.8% between the second and third quarters of the year. Read more: www.businessinsider.com/opening-bell-oct-20-2014-2014-10#ixzz3GgfYDQBG
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Post by huh on Oct 20, 2014 7:23:36 GMT -5
10 Things In Tech You Need To Know This Morning 1. IBM has reportedly reached a deal to sell its chip manufacturing unit. The company said that a major announcement is coming alongside its Q3 earnings today. 2. Apple has removed all Bose headphones and speakers from its stores. It's likely linked to the Beats acquisition. 3. The CEO of Whisper has asked concerned users to email him. This follows a Guardian report that accused the anonymous app of tracking its users. 4. The British government has outlined new laws that could see internet "trolls" sentenced to two years in prison. This follows a series of high-profile incidents of online abuse in the UK. 5. Apple's software chief says that the company has no plans to make touchscreen desktop computers. He says it would be "awkward and uncomfortable." 6. Snapchat has debuted its first ads. The first ad was a trailer for the horror movie Ouija. 7. Details have leaked of three new Fitbit wearable devices. Expect to see the Fitbit Surge announced in the coming weeks. 8. Microsoft is planning on entering the wearables market. Sources say it's a wearable watch with a two-day battery life. 9. Facebook has hit back at the DEA for creating fake profiles on the site to use in drug stings. It says the government agency has committed a "serious breach" of the site's policies. 10. One man claims that his iPhone bent in his pocket and caught fire. The iPhone 6's alleged flexibility may have caused the battery to puncture. Read more: www.businessinsider.com/10-things-in-tech-you-need-to-know-october-20-2014-10#ixzz3GgfkLgkV
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Post by huh on Oct 20, 2014 7:24:20 GMT -5
Frontrunning: October 20 Submitted by Tyler Durden on 10/20/2014 - 08:10 Stick to tapering and rates pledge, says Boston Fed chief (FT) Turkey to let Iraqi Kurds reinforce Kobani as U.S. drops arms to defenders (Reuters) Obama makes rare campaign trail appearance, some leave early (Reuters) Japan GPIF to Boost Share Allocation to About 25%, Nikkei Says (BBG)... or three months of POMO Japan Stocks Surge on Report GPIF to Boost Local Shares (BBG) China Growth Seen Slowing Sharply Over Decade (WSJ) Russia, Ukraine Edge Closer to Natural-Gas Deal (WSJ) Leveraged Money Spurs Selloff as Record Treasuries Trade (BBG) After clashes, Hong Kong students, government stand their ground before talks (Reuters) Female cabinet members’ resignations undermine Abe’s recovery efforts in Japan (WaPo) Nigeria declared Ebola-free after containing virus (Reuters) Value Investors Hoarding Cash See Few Bargains After Rout (BBG) www.zerohedge.com/news/2014-10-20/frontrunning-october-20
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Post by huh on Oct 20, 2014 7:25:49 GMT -5
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Post by huh on Oct 20, 2014 7:54:39 GMT -5
S&P futures look as if they're bear flagging for 1865/1866. That would put S&P low to mid 1870's.
That's actually bullish if it can hold that area (high 1970's kind of bullish). But only if it holds.
Would have been way more bearish to open on the highs.
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Post by huh on Oct 20, 2014 8:07:59 GMT -5
S&P futures look as if they're bear flagging for 1865/1866. That would put S&P low to mid 1870's. That's actually bullish if it can hold that area (high 1970's kind of bullish). But only if it holds. Would have been way more bearish to open on the highs. Futures bear flag target confirmed, ~1865.75.
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Post by huh on Oct 20, 2014 8:15:57 GMT -5
This is simply whipsaw action in futures. Good odds of a bounce when futures hit that downside target - and likely bounce right back to near the highs.
This set-up actually gives SPX a much better chance of clearing that 200dma today.
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Post by walnut on Oct 20, 2014 8:34:01 GMT -5
Trying to sell some deep out of the money puts. I expect they will take my bid, then the SP500 is gonna go down 50.
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Post by huh on Oct 20, 2014 8:38:37 GMT -5
This is simply whipsaw action in futures. Good odds of a bounce when futures hit that downside target - and likely bounce right back to near the highs. This set-up actually gives SPX a much better chance of clearing that 200dma today. Ahhh, never mind. That bear flag in futures getting squeezed before hitting the downside target. Shame. Would have been a bullish set-up had it hit. Now it likely sets-up as a short if futures hit slightly higher highs.
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Post by huh on Oct 20, 2014 8:56:26 GMT -5
Looks as if AAPL could make a fool of me again. But if it closes under 98.89, I wouldn't be holding it for earnings. And I'm saying that being extremely bullish on AAPL fundamentals. These earnings will likely show huge iPhone 6 sales IMHO.
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Post by huh on Oct 20, 2014 9:03:24 GMT -5
I get more and more bearish with each point up. Each one of these MM-Mulligan pops have been bad news since 09/19. Had futures hit that downside target, and SPX 1873-1875, I would have been long for 1970's. This squeeze isn't good IMO.
Only hope is if AAPL can take the market higher now, which is why I'm watching that one close into the close. It is holding back into that pennant now, so perhaps it will. But there's a lot of day left. If long AAPL, your stop is 98.75.
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Post by Herceg on Oct 20, 2014 9:11:14 GMT -5
Looks as if AAPL could make a fool of me again. But if it closes under 98.89, I wouldn't be holding it for earnings. And I'm saying that being extremely bullish on AAPL fundamentals. These earnings will likely show huge iPhone 6 sales IMHO. I agree on large sales, but how much can it really propel higher at this point with lackluster response on their latest gadgets............Just something to keep in mind........ JMO and BOL..........
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Post by huh on Oct 20, 2014 9:14:03 GMT -5
Looks as if AAPL could make a fool of me again. But if it closes under 98.89, I wouldn't be holding it for earnings. And I'm saying that being extremely bullish on AAPL fundamentals. These earnings will likely show huge iPhone 6 sales IMHO. I agree on large sales, but how much can it really propel higher at this point with lackluster response on their latest gadgets............Just something to keep in mind........ JMO and BOL.......... Answer: 122.00. LOL
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Post by huh on Oct 20, 2014 9:19:25 GMT -5
My sentiment's swinging almost as much as futures this morning. LOL SPX 1873.50 first, bullish. 1898+, bearish. That's my current thought anyway.
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Post by huh on Oct 20, 2014 9:21:15 GMT -5
IWM must hold support is now 106.00.
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Post by huh on Oct 20, 2014 9:26:39 GMT -5
Call me crazy, but I see possible DOOM setting up for tomorrow. (but genius requires some crazy, right? .........................RIGHT!?)
But I suppose this is where the Fed could step and do something.
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Post by huh on Oct 20, 2014 9:34:50 GMT -5
I took a small 1% gain on SVXY last week. Could have sold today for 11%+.
DOH!
But I don't feel bad about that one. It was down 5% when VIX was down 5% and market green. Hard to hold when that happens.
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Post by huh on Oct 20, 2014 9:40:06 GMT -5
IWM must hold support is now 106.00. When/if IWM breaks over 109.25 (& I think it will), 109.25 then becomes the must hold support. If it were to break over and then lose it for more than a couple minutes, that would be a failed iH&S. That's a very likely scenario given this action. (but upside target for the iH&S would be ~114.75 in case I'm wrong about it failing)
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Post by huh on Oct 20, 2014 10:00:29 GMT -5
C'mon. Move higher already.
GOOG wants down to ~514.41, then up to ~522.25. Don't keep it waiting.
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Post by walnut on Oct 20, 2014 10:08:18 GMT -5
I'm pulling for a little more drop. I missed a chance to sell some puts for a nice price in the pre-market. Hindsight is 20-20. Thought we were continuing lower.
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