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Post by huh on Aug 27, 2015 5:50:33 GMT -5
10 things in tech you need to know today 1. Facebook has unveiled its virtual assistant, Facebook M. It can be used to check information, buy products, or reserve seats at events. 2. An analysis of leaked data from Ashley Madison suggests that most female accounts on the site were fake. Only a tiny portion of female accounts appear to be legitimate. 3. Amazon has reportedly cut jobs in its hardware division. "Dozens of engineers" have reportedly been cut from Lab126 following the launch of the Fire Phone. 4. "Angry Birds" developer Rovio is cutting 260 jobs. CEO Pekka Rantala said that the company "did too many things." 5. Google Ventures has made its first investment in mainland Europe. Swedish gaming studio Resolution Games raised $6 million (£3.8 million) in a round led by Google Ventures. 6. Uber cofounder Garrett Camp has taken over content discovery site StumbleUpon. The company has been laying off staff. 7. Ashley Madison has been accused of failing to delete data on users who pay for the "full delete" option. Data analysis shows that information like date of birth and location were allegedly retained. 8. Dark web drug marketplace Agora is pausing operations. It says that it needs time to make sure the site is secure. 9. 71% of music executives think that Jay Z's music streaming company Tidal will close in a year or less. Only 12% of executives thought it would be around for a long time. 10. Leaked emails show that Ashley Madison considered acquiring gay dating app Grindr. But the plan was abandoned when Ashley Madison's CEO decided that the app was too expensive. Read more: uk.businessinsider.com/10-things-in-tech-you-need-to-know-august-27-2015-8#ixzz3k0lnWHte
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Post by huh on Aug 27, 2015 6:33:17 GMT -5
10 things you need to know before the opening bell China propped up stocks. Just days after saying it was done intervening in the stock market, Beijing entered the market to prop up shares ahead of the September 3 parade commemorating its World War II victory over Japan. In the final hour of trade, Chinese stocks surged from a loss of 0.7% to book a gain of 5.3%. Sources told Bloomberg the government bought large-cap names. Ukraine and its creditors agreed to a debt write-down. Ukraine's finance minister, Natalie Jaresko, and the country's creditors, have ironed out a 20% write-down to the face value of approximately $18 billion Eurobonds, according to Bloomberg. The deal also pushes back bond maturities by four years and sets the interest rate at 7.75% for all maturities. Russia has rejected the same deal for the $3 billion worth of Ukrainian bonds it owns. Bloomberg reports that Ukrainian bonds surged the most on record after the announcement. The Kansas City Fed's Jackson Hole Symposium begins. This year's event will not be attended by Federal Reserve chair Janet Yellen. Instead, focus will center on Fed vice chair Stanley Fischer's speech on Saturday. Investors will be looking for clues to if and when the Federal Reserve will raise interest rates for the first time since 2006. Also of note will be any comments related to the economic slowdown in China and its impact on the global economy. Boeing reached a settlement on its 401(k) plan. The aviation giant has reached a preliminary agreement regarding a class-action lawsuit filed on behalf of its employees over the improper handling of the company's 401(k) plan. The Wall Street Journal reports that the suit accused Boeing of "allowing excessive 401(k) fees to go unchecked, choosing higher-cost retail mutual funds over cheaper options, and improperly making 401(k) plan decisions to benefit vendors receiving other Boeing business." Terms of the agreement were not disclosed. PVH beat on the top and bottom lines. The apparel giant announced adjusted earnings of $1.37 per share, topping the consensus estimate by 8 cents. Revenue slid 5.6% to $1.86 billion, outpacing the $1.82 billion that analysts were anticipating. The quarter was boosted by strong sales of the Calvin Klein brand, which saw revenue rise 3% on a constant currency basis. PVH upped its full-year earnings forecast to $6.90 to $7.00 per share from its previous estimates of $6.85 to $6.95. Fidelity is considering new card partners. The company is considering ending its card relationships with American Express and Bank of America, people familiar with the matter told Bloomberg. MasterCard and Visa are being viewed as possible replacements, the sources said. Pershing Square has had an awful August. Hedge fund manager Bill Ackman's Pershing Square has been hit hard during the volatility in August. According to Pershing's latest investor update, it had booked a 10.1% year-to-date gain through the end of July, but the recent volatility has pushed the fund into the red for the year. "While stocks can trade at any price in the short term, because we do not use margin leverage, we will not be forced out of any investment at an inopportune time," Ackman said in the letter. Stock markets are higher around the world. Aside from the gains in China, Hong Kong's Hang Seng (+3.6%) led the advance in Asia. In Europe, France's CAC (+3.0%) is the top performer. S&P 500 futures are higher by 22.50 points at 1,960.50. US economic data is moderate. Initial and continuing claims and GDP - Second Estimate will all be released at 8:30 a.m. ET, while pending home sales are due out at 10 a.m. ET. Natural-gas inventories are set to cross the wires at 10:30 a.m. ET. The US Treasury will auction $29 billion seven-year notes at 1 p.m. ET. The US 10-year yield is down 2 basis points at 2.15%. Companies continue to report their quarterly results. Dollar General, J.M. Smucker, and Tiffany & Co. are among the names to release their quarterly results ahead of the opening bell. Aeropostale, Gamestop, and Smith & Wesson highlight the companies reporting after markets close. Read more: www.businessinsider.com/opening-bell-august-27-2015-2015-8#ixzz3k0wc1wvW
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Post by huh on Aug 27, 2015 6:38:15 GMT -5
Frontrunning: August 27 Submitted by Tyler Durden on 08/27/2015 - 07:20 Virginia TV journalists killed by suspect with 'powder keg' of anger (Reuters) Policeman shot to death and three women stabbed, one fatally, in Louisiana (Reuters) China Intervened Today to Shore Up Stocks Ahead of Military Parade (Reuters) Margin Calls Bite Investors, Banks (WSJ) "Computer glitch" is preventing dozens of mutual funds, ETFs from promptly pricing their securities (WSJ) Oil prices rise more than 4 percent as equities rally (Reuters) Oil Industry Needs Half a Trillion Dollars to Endure Price Slump (BBG) The New Orleans Economy 10 Years After Katrina (WSJ) Jihadi Trails: The Circuitous Routes Foreigners Take to Syria and Iraq (WSJ) Wal-Mart to stop selling AR-15, other semi-automatic rifles (Reuters) Dozens of Amazon engineers who worked on failed smartphone are laid off as company retrenches (WSJ) Up to 50 refugees found dead in truck in Austria: Krone newspaper (Reuters) China detains 12 over Tianjin blasts, accuses officials of dereliction (Reuters) Nielsen starts tracking Netflix (WSJ) Will the Next Recession Be Made in China? (BBG) How Eric Holder's Corporate Law Firm Is Turning Into a 'Shadow Justice Department' (BBG) www.zerohedge.com/news/2015-08-27/frontrunning-august-27
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Post by huh on Aug 27, 2015 6:38:50 GMT -5
Last week Monday I suggested that if ES lost the 2078 critical support, then it would likely lose 100 pts by EOW It lost 109.50 pts by EOW after losing that 2078
On Sunday night, I said that although futures were down huge, the move started too early and they should bounce big on Monday & maybe even go green. Although they didn't go green, the bounce from the low in those futures was one of the largest bounces in the history of S&P futures (120pts in ES). And futures still haven't even retested that low made Monday morning
On Monday I mentioned that ES broke resistance and would now likely see 1963-1969 now This morning's high so far in ES is 1964.44
So what might happen next? I feel confident that we'll see a slightly higher high in the S&P yet. But I had thought it would happen with a V bottom, and that hasn't happened. Much more chop this week than I expected, especially with the depth of yesterday's pull back Herceg says low 1800's. And walnut very astutely pointed out the red flag VXX yesterday (nice find! I never would've noticed that). And of course others are seeing lower targets. Here's a thought - what if all of us are right? With the fail in EURUSD, gold should be crashing. It's not. Futures are now making a higher high for the week, yet VIX scams are not making lower lows (not even close). Both futures and indices are filling upside gaps with this morning's move. So I wouldn't be surprised at all if we see both low 1800's, or slightly lower, before a rush to new highs.
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Post by Herceg on Aug 27, 2015 7:10:41 GMT -5
Sometimes much better to be lucky than good................wish I had shorted more...........
STJ - 07:57:02 Bought to Cover 100s @ $72.28 - Total: $7,234.00 STJ - 07:43:23 Sold Short 100s @ $79.69 - Total: $7,962.85
$728 on something I had not planned on.............getting the kids ready for school and when I popped back in to look at the PC I was stumbling over myself to cover as I did not know what was going on and did not want to waste time in finding out..............
JMO and BOL.......
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Post by crumbdon on Aug 27, 2015 7:28:25 GMT -5
WTG Herc!!!! Great trading (while being a good dad, no less)!!
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Post by huh on Aug 27, 2015 7:45:31 GMT -5
I'm concerned about EURUSD ~1.1195. It could find support there. (final FIB from recent low before the iH&S breakout)
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Post by walnut on Aug 27, 2015 8:01:13 GMT -5
Well, the VXX is falling pretty good now.
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Post by huh on Aug 27, 2015 8:08:14 GMT -5
Well, the VXX is falling pretty good now. ...Also, would like to see VIX futures under 21.90... That 21.90 is the key support in VIX futures
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Post by novie08 on Aug 27, 2015 8:33:01 GMT -5
Yesterday, Cramer issued a warning to sell BIDU and BABA...Baba now +3.15% and BIDU +3.9%. Is Cramer a scam?
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Post by Herceg on Aug 27, 2015 8:41:08 GMT -5
Yesterday, Cramer issued a warning to sell BIDU and BABA...Baba now +3.15% and BIDU +3.9%. Is Cramer a scam? You are being too polite on your assessment of Cramer.............he is an idiot who just like most makes excuses after the fact...........too little too late as always............ JMO and BOL...........
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Post by novie08 on Aug 27, 2015 8:50:00 GMT -5
Thanks Herc. I don't pay attention to him so wasn't completely sure...do know that he worked for GS so that's a negative right there.
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Post by novie08 on Aug 27, 2015 9:09:56 GMT -5
Birthmark and others, posted a clarification from Armstrong in the lounge... Slingshot possible still which would take the Dow to 38-40,000. Depends on how low we go.
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Post by crumbdon on Aug 27, 2015 9:13:12 GMT -5
Almost 100 SPX points in 2 days, and fools still rushing in to buy. Do they really think the predatory quants are done unleashing their fury on these markets??
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Post by huh on Aug 27, 2015 9:18:56 GMT -5
I'm still thinking the real battle could take place ~ES 1970 (SPX 1972.50-1975) unless EUR/USD confirms higher before then (and it's been sitting basically sideways since the open)
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Post by crumbdon on Aug 27, 2015 9:28:51 GMT -5
I'm still thinking the real battle could take place ~ES 1970 (SPX 1972.50-1975) unless EUR/USD confirms higher before then (and it's been sitting basically sideways since the open) I do expect a Herculean effort to set off a squeeze above there today. If so, it could go straight up a couple more days. But not expecting that right now. This feels like baiting the sheep. Again.
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Post by huh on Aug 27, 2015 9:34:31 GMT -5
I think what happens here with SPX low-mid 1970's will decide if the next move goes to new highs, or October lows (then new highs)
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Post by crumbdon on Aug 27, 2015 9:36:15 GMT -5
I think what happens here with SPX low-mid 1970's will decide if the next move goes to new highs, or October lows (then new highs) Agree completely!
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Post by huh on Aug 27, 2015 9:57:48 GMT -5
I was considering shorting this, but it's so tough right here. If market were to break to the upside, it could move fast. Think I'll have to wait for confirmation of more downside. SPX 1915 is the resistance to beat. If it were to break over that, I think right back to the highs with resistances in between ~1950, low 1970's, 2030's, and ~2050
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Post by crumbdon on Aug 27, 2015 10:01:41 GMT -5
We are 105 handles above yesterday's $Spy lows. Sick.
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