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Post by huh on Oct 22, 2014 7:29:51 GMT -5
10 Things You Need To Know Before The Opening Bell Eleven Banks Are About to Fail Europe's Stress Tests. Spanish news wire EFE says that that at least 11 of the 130 banks the European Central Bank is now in charge of testing have failed their reviews. Japan's Trade Picture Is Collapsing. Japan's shaky economy was dealt another blow Wednesday, as official data showed a widening September trade deficit that puts the world's number-three economy on track to log a record annual shortfall. 6.1 Million US Cars Are Being Recalled Over Defective Airbags. The US highway safety regulator expanded its warning Tuesday about faulty airbags made by Japanese auto-part maker Takata to include 6.1 million vehicles in the United States. Daimler Made $800 Million Selling Its Tesla Stake. The parent company of Mercedes is selling its 4% stake in Tesla. Heineken Blames The Weather For Poor Sales In Q3. The Dutch brewer, which makes Heineken lager as well as Sol, Tiger, and Strongbow cider, said it sold 0.2% less beer in the July-September period with declines in both eastern and western Europe. Europe's Biggest Airline Is Close To A Major Outsourcing Deal With IBM. German airline Lufthansa says it is close to selling its IT infrastructure division and completing an outsourcing deal with IBM. Brazil's President Gains On Neves Ahead Of Sunday's Runoff. President Dilma Rousseff has gained 1 percentage point on her rival Aecio Neves ahead of a runoff to Brazil's presidential election, a new poll showed on Wednesday. The leftist incumbent has 47% of voter support. European Markets Are Pretty Flat After A Rally In Asia. The FTSE 100 is currently down 0.12%, Germany's DAX is up 0.03% and France's CAC 40 is down 0.05%. Both the Nikkei and Hang Seng had strong days, closing up 2.64% and 1.37% respectively. Hong Kong's Leader Warns Vigilantes May "Take The Law Into Their Own Hands" Against Protestors. Hong Kong chief executive CY Leung told international reporters that patience is wearing thin with the pro-democracy protestors who have occupied large parts of central Hong Kong. Inflation Data Is Out Later. At 8:30 a.m. ET, US CPI data for September will be released, the only major economic data out Wednesday. Analysts are expecting a 1.6% print, comfortably below the Fed's target of 2%. Read more: www.businessinsider.com/opening-bell-oct-22-2014-2014-10#ixzz3GsOPuwQP |
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Post by huh on Oct 22, 2014 7:30:27 GMT -5
10 Things In Tech You Need To Know This Morning 1. Yahoo beat expectations in its Q3 earnings. Revenue was up 1% from Q3 last year. 2. Uber drivers around the world will be protesting today. They are unhappy about the company's driver policies. 3. HP is planning on creating a computer that can scan objects in 3D. It will also have a built-in projector. 4. BuzzFeed CEO Jonah Peretti says Yahoo is making a strategic mistake. He says it is "needlessly picking the harder path." 5. EMC has announced that it will host a press conference on Thursday. The announcement will come on the same day as its earning call. SPONSORED BY Delta Our app was designed to be as efficient as possible. No muss, no fuss. Just the things you need, when you need them. Making the Fly Delta app #1 in the industry. No wonder more people choose Delta than any other airline. Download the app. 6. Microsoft CEO Satya Nadella is being paid $84 million. His base salary is $918,917, with a cash bonus of $3.6 million. 7. Google has announced a new USB security key. It checks whether a website is valid before you log in with your Google account. 8. Apple has denied that its servers were compromised by Chinese hackers. Reports had suggested that Chinese iCloud users had come under attack. 9. Tim Cook sent a letter to Apple staff following the company's strong Q4 performance. He praises the company's "hard work and dedication." 10. The Nokia brand is going to be replaced by Microsoft Lumia. The roll-out starts in France. Read more: www.businessinsider.com/10-things-in-tech-you-need-to-know-october-22-2014-10#ixzz3GsOaWk1i |
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Post by huh on Oct 22, 2014 7:31:23 GMT -5
Frontrunning: October 22 Submitted by Tyler Durden on 10/22/2014 - 07:31 Russia Loses Oil Ally in De Margerie After Moscow Crash (BBG) Austria's Erste denies report it has failed stress tests (Reuters) Sweden gets two new sightings, as hunt for undersea intruder goes on (Reuters) Companies Try to Escape Health Law’s Penalties (WSJ) Mud and Loathing on Russia-Ukraine Border (BBG) NOAA employee charged with stealing U.S. dam information (Reuters) Lower Oil Prices Seen Easing Japan’s Trade Pain (WSJ) Michigan becomes 5th U.S. state to thwart direct Tesla car sales (Reuters) Maglev Train Seen Making Washington-to-Baltimore Trip at 311 MPH (BBG) Brazil’s Rousseff Gains Ground, Poll Show (WSJ) Global Growth Woes Threaten to Beset U.S. Economy (WSJ) Faulty airbags warning expanded to 6.1 million U.S. cars: NHTSA (Reuters) Traffickers use abductions, prison ships to feed Asian slave trade (Reuters) Yahoo Delivers Message to Activist Starboard: Back Off (BBG) Former Washington Post editor Ben Bradlee dies at 93 (Reuters) China approves $24.5 billion in rail and airport projects (Reuters) States Ease Laws That Protected Poor Borrowers (NYT) www.zerohedge.com/news/2014-10-22/frontrunning-october-22 |
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Post by huh on Oct 22, 2014 7:39:13 GMT -5
Overnight futures some of the calmest I've ever seen. Didn't expect that considering the size & wake of gaps left from the recent moves.
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Post by huh on Oct 22, 2014 7:43:05 GMT -5
GLD & SLV toying with important supports this morning...GLD 119.37, SLV 16.66.
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Post by huh on Oct 22, 2014 7:46:42 GMT -5
Possible large iH&S in YHOO on the daily. Set to open above it's top BB, so could pullback some first yet. But keep an eye on it.
[Sorry, still unable to post charts here. Attachment folder full for forum]
Should I be using a free picture hosting site instead? If so, anyone have a good recommendation?
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Post by clinton on Oct 22, 2014 8:15:37 GMT -5
Possible large iH&S in YHOO on the daily. Set to open above it's top BB, so could pullback some first yet. But keep an eye on it. [Sorry, still unable to post charts here. Attachment folder full for forum. Should I be using a free picture hosting site instead? If so, anyone have a good recommendation? how do we emp-ty the folder? |
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Post by Herceg on Oct 22, 2014 8:20:33 GMT -5
Possible large iH&S in YHOO on the daily. Set to open above it's top BB, so could pullback some first yet. But keep an eye on it. [Sorry, still unable to post charts here. Attachment folder full for forum. Should I be using a free picture hosting site instead? If so, anyone have a good recommendation? I would watch DDD pe of 125 and LL............shorted DDD this morning at 39.10 and covered at 37.70.............unfortunately at 37 now.......... JMO and BOL................... |
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Post by huh on Oct 22, 2014 8:25:15 GMT -5
VMW down more than 8% @ 80.80 in pre-market. It backtested the break of an "Obama's Poll" yesterday, minimum downside target a little under 76. But that Obama's Poll pattern was the RS of a larger H&S, and the target for that is ~72.35.
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Post by crumbdon on Oct 22, 2014 8:25:57 GMT -5
According to data from the CBOE (using the new methodology) this is the first time the $VIX has ever dropped 10% three straight days.
I find myself VERY distrustful of this move up. Still feels like one more shakeout needed first.
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Post by huh on Oct 22, 2014 8:27:44 GMT -5
Considering where YHOO's opening (+ ~6% @ 42.50) above it's top BB, and the downside targets for VMW, I wouldn't be surprised to see the market pullback for a day or two to consolidate.
But so long as VIX stays under 18.60's & SPX over the 200dma support, SPX should still see at least 1979 by EOM (and perhaps even more) IMHO.
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Post by huh on Oct 22, 2014 8:29:13 GMT -5
According to data from the CBOE (using the new methodology) this is the first time the $VIX has ever dropped 10% three straight days. I find myself VERY distrustful of this move up. Still feels like one more shakeout needed first. But as of very recently, weekly options are now included in the spot VIX formula (not futures VIX). I think because of this we'll start to see a lot of "this never happened before" in spot. |
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Post by Herceg on Oct 22, 2014 8:36:50 GMT -5
RGLS on fire.........never saw or heard of it this morning would have been a great short if shares were available this morning........
JMO and BOL...........
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Post by crumbdon on Oct 22, 2014 8:37:50 GMT -5
From Twitter: V-Bottoms, 2013-2014. After 4 Sessions, Average Perf. (Low to Close): +2.95%. Current: 6.14%.
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Post by clinton on Oct 22, 2014 8:53:31 GMT -5
LL looks like a buy IMO
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Post by huh on Oct 22, 2014 9:05:42 GMT -5
GOOG hit a 76.4 FIB retracement and filled an upside gap with the tag of 537.94 this morning. Likely to see a decent pullback now.
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Post by huh on Oct 22, 2014 9:08:50 GMT -5
NFLX hit a rising wedge resistance ~572.75 this morning.
Looks to me like tech should see a decent sized pullback here. What isn't hitting continued downtrend resistance is trading at previous resistances and above top BB's.
JMHO
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Post by huh on Oct 22, 2014 9:17:20 GMT -5
My guess is that the market could see a quick flush out here - especially with tech. Basically a normal down day followed by a good sized gap down. Reset the indicators and FIB some of the recent up moves. Would be hard to get buyers without those indicators being softened up a little here.
Lots of supports below now, but very few (if any) backtested.
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Post by huh on Oct 22, 2014 9:25:38 GMT -5
That's a monster rounded top H&S in LL - zoom out a little to the 2 day chart. Confirmation for that pattern would be under today's LOD of 49.10 (tagged the neckline perfectly with that LOD). Downside for that large pattern is ~20.00. Looking closer, it formed a smaller rounded top on the daily chart. The minimum downside for that pattern is ~45.65. Today's high coincidentally backtested the confirmation of the pattern perfectly. To play it long here would be betting on it squeezing both bearish patterns - which is very possible with that gap down today - but I'd wait for confirmation of the squeeze over 52.75-52.78. This pattern sets-up so perfectly with the FIBs, and parallels (both time and price), that it should play out technically very well. So the next play would be a break of 52.78 to the upside (long), or a break of 49.10 to the downside (49.10). I think it will squeeze eventually, but I'd definitely wait for the confirmation. JMHO |
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Post by huh on Oct 22, 2014 9:40:24 GMT -5
NFLX hit a rising wedge resistance ~572.75 this morning... So much for that - NFLX squeezing. 373.00 support now. Lose that, and the squeeze failed. |
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