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Post by huh on Sept 28, 2016 7:04:58 GMT -5
10 things you need to know before the opening bell Germany denies reports of a possible Deutsche Bank bailout. Germany's finance ministry says it's not working on a rescue plan for Deutsche Bank, contrary to an earlier report from the German newspaper Die Zeit. Deutsche Bank told employees not to worry. In a memo sent to employees, the German investment bank said it had no intention to settle with the US Department of Justice at a price "anywhere near the opening position of $14 billion" and that is had no plans to raise capital. It also said: "CDS spreads which reflect risk of our senior unsecured debt are no longer an especially reliable proxy for probability of default. Thin volumes amplify price movements." Janet Yellen to testify before the House Financial Services Committee. While most of the questions are expected to be about financial regulation, Yellen could also be asked about topics ranging from monetary policy to bank stress tests to the election, The Wall Street Journal says. Wells Fargo is clawing back cash from its CEO. Wells Fargo CEO John Stumpf will forfeit $41 million in stock awards as a result of the bank's scandal over sales practices, the Associated Press reports. RBS has agreed to a "toxic" mortgage settlement. The bank has agreed to pay $1.1 billion to settle claims it mis-sold toxic mortgage security products to the US Central Federal Credit Union and Western Corporate Federal Credit Union in the run-up to the 2008 financial crisis. Apple is already developing the iPhone 8. An employee at Apple's office in Herzliya, Israel, told Business Insider's Sam Shead that all new products were worked on at the facility and that the iPhone 8 would have a radical redesign. Nike's future orders missed. The athletic-apparel giant beat on both the top and bottom lines but saw worldwide future orders up 7%, below analyst expectations for an 8% increase. Shares of Nike finished the after-hours session down by about 3%. Stock markets around the world trade mixed. Japan's Nikkei (-1.3%) trailed in Asia, and Germany's DAX (+0.8%) leads the gains in Europe. S&P 500 futures are down 2.00 points at 2,150.75. Blackberry reports ahead of the opening bell. The smartphone maker is expected to post an adjusted loss of $0.05 a share on revenue of $390.2 million, according to the Bloomberg consensus. US economic data trickles out. Durable goods orders will be released at 8:30 a.m. ET before Department of Energy crude-oil inventories are released at 10 a.m. ET. The US 10-year yield is up 2 basis points at 1.58%. www.businessinsider.com/opening-bell-september-28-2016-2016-9
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Post by huh on Sept 28, 2016 7:05:40 GMT -5
10 things in tech you need to know today 1. Elon Musk has unveiled his plan to begin colonizing Mars by 2022. The SpaceX founder wants to send a million people to the red planet. 2. Uber has finally found a CFO. A visa application by the company reveals an unnamed employee has been given the role, which has been empty since March 2015. 3. Leaked photos have revealed Google's two new smartphones. Prolific phone leaker Evan Blass has got his hands on images of the upcoming Google Pixel and Pixel XL. 4. Some former Apple employees building a bunch of cool car tech have launched their first product. Pearl has released PearlVision, a rear-facing camera and alert system for your vehicle. 5. Facebook's product for businesses is coming next month, and will charge per employee. Facebook at Work is an enterprise messaging platform. 6. A Google self-driving car sustained major damage in the worst crash involving the vehicles to date. The vehicles have been in three crashes caused by humans in the last month. 7. Amazon exec Mike George says the company "works backwards" to create new ideas. When developing the Amazon Echo, the first thing the company did was make a fake press release — then went from there. 8. Slack, the red-hot $3.8 billion (£2.9 billion) startup, has a hidden meaning behind its name. It's an acronym for Searchable Log of All Conversation and Knowledge. 9. A viral video is trying to prank iPhone 7 owners into drilling a hole in their smartphone to access a "hidden" headphone jack. Don't do it. 10. AppLovin, a 115-employee profitable startup that has never raised money from VCs, has sold itself for $1.4 billion (£1.1 billion). The company makes personalized ads. www.businessinsider.com/10-things-in-tech-you-need-to-know-september-28-2016-9
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Post by huh on Sept 28, 2016 7:06:11 GMT -5
Frontrunning: September 28 Stocks Rally as Deutsche Bank Slump Ends, Oil Gains Before Talks (BBG) German government prepare Deutsche Bank rescue plan (Reuters) German financial watchdog not working on emergency plan for Deutsche Bank (Reuters) Saudi Arabia Signals Openness to Future Oil Compromise With Iran (BBG) Anheuser-Busch InBev Clinches $103 Billion SABMiller Deal (BBG) Will Congressional Face-off Over Flint Lead to a Government Shutdown? (NBC) Shimon Peres, Israel's last founding father, dies at 93 (Reuters) Elon Musk Outlines Plans for Missions to Mars (WSJ) Crowds gather after police fatally wound unarmed black man in southern California (Reuters) Five arrested on suspicion of forming European Islamic State cell (Reuters) It’s Paul Singer Versus Citigroup in High-Stakes Bankruptcy Feud (BBG) UniCredit to announce capital raising after Italian referendum (FT) China’s Ambitious Plan to Make the Yuan the World’s Go-To Currency (BBG) Wells Fargo CEO forfeits millions as board orders review (Reuters) Deutsche Bank Rises as CEO Sells Assets, Rules Out Capital Hike (BBG) Taliban ‘very interested’ in debate, watched from secret location (The Hill) Senators Propose Bill to Include Municipal Debt as Liquid Assets (BBG) Norway appeals court rejects Snowden extradition lawsuit (Reuters) German consumer morale falls slightly heading into October (Reuters) Putin faces dilemma after vote win: How to prolong a system based on himself (Reuters) Uber to Launch Food-Delivery Service in Tokyo (WSJ) www.zerohedge.com/news/2016-09-28/frontrunning-september-28
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Post by huh on Sept 28, 2016 7:13:41 GMT -5
RGSE was up more than 110% yesterday, but will it be different this time?
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Post by huh on Sept 28, 2016 7:21:38 GMT -5
BBRY up as much as 11% in pre, but careful as it wouldn't even break the most recent & smallest of its bearish patterns until it holds >8.70
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Post by clinton on Sept 28, 2016 8:52:29 GMT -5
IWM OBV very bullish SPY not bullish
Im bullish
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Post by clinton on Sept 28, 2016 9:33:36 GMT -5
TopstepTrader 1 Share CRUDE OIL INVENTORIES FELL 0.37%
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Post by clinton on Sept 28, 2016 9:35:22 GMT -5
another wait for the EU to close rally?
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Post by clinton on Sept 28, 2016 9:39:00 GMT -5
shit the one time I dont sell into the gap up
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Post by clinton on Sept 28, 2016 9:46:10 GMT -5
IWM OBV very bullish SPY not bullish Im bullish SPY obv was right, I was wrong
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Post by huh on Sept 28, 2016 10:20:14 GMT -5
And that was the fairly standard -7 for S&P. Now market should head for a new high IMO.
I don't know about you guys, but I'm tired of this noise. The moves are too small and too quick for me to do much with them which means it only takes longer for the trades I am in to play out. Let's just get this fricking top over with already.
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Post by walnut on Sept 28, 2016 10:24:56 GMT -5
It's going to close up today. Are we still certain we are around a top? With this second bull run, it no longer looks like the previous two tops in the last 20 years. From a layman's perspective at least.
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Post by walnut on Sept 28, 2016 10:26:22 GMT -5
Oops now down -.3 % I could be wrong ya know
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Post by huh on Sept 28, 2016 10:28:18 GMT -5
It's going to close up today. Are we still certain we are around a top? With this second bull run, it no longer looks like the previous two tops in the last 20 years. From a layman's perspective at least. I think it's a top. It looks exactly like the final squeeze of a H&S - as expected & predicted 2 years ago - though granted I didn't think it would take anywhere near this long, hence my impatience.
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Post by walnut on Sept 28, 2016 10:33:31 GMT -5
I gotta tell ya, I am beginning to think it will only be a June 2011 or Aug 2015 scale of event. Not a full blown 2000 or 2008.
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Post by huh on Sept 28, 2016 10:48:09 GMT -5
I think S&P & NQ_F may have about 4% upside from here, 2240's & 5040's, respectively. I might've agreed about the moderate pullback but something happened this year. I have pages of lists on my desk with upside targets. They're all crossed off now, and they hit with an 88% success rate (even more than that hit, but I may have been stopped out beforehand).
I've now run out of upside targets. I've tried a few here and there recently, but they're struggling just to keep up with the market % gains.
Besides playing ETFs tied directly to those indices, or short the VIX scams, I don't see a whole lot of ways to play for even a small 4% pop. Most individual names have been getting whacked during this recent rise. AAPL might be one of the few individual names that have a decent change of a run yet, but only if it closes >116.40. I also think banks might get a decent pop, and WFC & DB may be the most recently oversold names in that sector.
But it's getting hard to play these moves with individual names IMHO. Sector ETfs are a good play, but these moves are small. And with the SEC eyeing the elimination of at least some of the leveraged funds, well, feels to me like bulls are getting channeled into an ever-narrowing raceway for a slaughter.
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Post by huh on Sept 28, 2016 10:50:47 GMT -5
All that being said, perhaps I'll end up being all wrong. Which is why I said the next time I go short, I'll probably take a decent break. Might be too close/impatient with it all now.
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Post by walnut on Sept 28, 2016 11:05:24 GMT -5
The market PE is high right now but maybe not high enough for a major crash. Look at the jump in PE from 2008 to 2009, that may be about to happen now.
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Post by huh on Sept 28, 2016 11:36:15 GMT -5
The market PE is high right now but maybe not high enough for a major crash. Look at the jump in PE from 2008 to 2009, that may be about to happen now. That pe rise only happened because the market fell by 57% in a short time. So yeah, that's exactly the kind of move I'm talking about. I can sum it up this way: I don't see anymore significant, long term upside targets. And I don't mean I don't see many. I don't see any. In fact, all I see are squeezes of very large, multi-year bearish patterns. Or, in some cases, potential for dead cat bounces of names already well into their bearish patterns (ie. DB) So if the market is to find a bottom on the next pullback, it has to create bullish patterns for more upside. This can't happen now until these bearish patterns play out. And that's where the problem is. For these bearish patterns to play out, most names would need to fall anywhere from 30-50%. And history tells us that at that point they could then start to build the bullish patterns for more upside. 30-50% IMO is more than a moderate pullback. Especially when you consider that many names and sectors are already well down from their highs when these large bearish patterns began over the last 2 years.
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Post by huh on Sept 28, 2016 11:52:46 GMT -5
DX_F came very close to those 95.70's today, and I see $GC_F FIB support ~1319. Hopefully gold can find support & finally bounce
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