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Post by huh on Nov 23, 2016 7:57:56 GMT -5
10 things you need to know before the opening bell An OPEC production cut is on shaky ground. Iraq and Iran are said to still have doubts about the cartel's plan to bring down production to 32.5 million to 33 million barrels a day, three sources told Reuters. West Texas Intermediate crude oil is higher by 0.4% at $48.21 a barrel. The November FOMC minutes are coming. Traders will get a glimpse into the thought process of the Federal Reserve and look for any clues as to whether the Federal Open Market Committee will raise interest rates at its December meeting. World Interest Rate Probability data compiled by Bloomberg shows a 100% chance for a 25-basis-point rate hike in December. The minutes will cross the wires at 2 p.m. ET. Europe's PMI beats. Markit's flash composite PMI figure for the eurozone printed at 54.1, suggesting the European economy is growing at its fastest pace of 2016. The euro is little changed near 1.0635 against the dollar. Britain's Autumn Statement is due out. Chancellor Philip Hammond will deliver the government's first major update on economic and fiscal policy since the Brexit referendum, and he is expected to announce a shift away from the austerity-based policies of his predecessor George Osborne. The statement will be released at 7:30 a.m. ET. GameStop expects a tough holiday season. The video game retailer expects same-store sales, or sales at established stores, to fall by 7% to 12% during the crucial holiday quarter as more gamers download games to their consoles. Hewlett Packard Enterprise misses on revenue. The commercial computer business that was spun off from HP last year earned an adjusted $0.61 a share on revenue of $12.5 billion. Wall Street was expecting adjusted earnings of $0.60 on revenue of $12.85 billion. Markets are closed on Thursday for Thanksgiving. They will reopen for a short session Friday, with the stock market and US Treasury market closing at 1 p.m. ET and 2 p.m. ET. Stock markets around the world trade mixed. Australia's ASX (+1.3%) led the overnight gains, while Germany's DAX (-0.6%) lags in Europe. Earnings reporting is light. John Deere reports ahead of the opening bell, and Ctrip.com releases its quarterly results after markets close. US economic data is heavy. Durable orders and initial jobless claims are due out at 8:30 a.m. ET before Markit US Manufacturing PMI crosses the wires at 9:45 a.m. ET and new-home sales and University of Michigan consumer confidence are announced at 10 a.m. ET. Additionally, Department of Energy oil inventories and the Baker Hughes rig count are will be released at 10:30 a.m. and 1 p.m. markets.businessinsider.com/news/stocks/10-things-you-need-to-know-before-the-opening-bell-1001542312 |
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Post by huh on Nov 23, 2016 7:58:46 GMT -5
10 things in tech you need to know today 1. Several Facebook employees reportedly quit over a tool that would censor posts in China. Facebook has created a censorship tool to automatically suppress certain posts in specific geographic areas. 2. Hewlett Packard Enterprise missed its Q4 revenue expectations but beat on profit. The stock was down about 1% in after hours trading. 3. There's a 3-second video that will glitch out any iPad or iPhone. Expect Apple to fix this with a software update soon. 4. Speculation is mounting that Jony Ive has checked out at Apple. The rumours keep coming that Apple's design guru is taking a backseat role. 5. One of Facebook's enormous internet-spreading drones crashed. There was an incident during the first test flight of Facebook's Aquila drone that left it with "substantial damage." 6. J.K. Rowling's Pottermore is expecting to turn a profit in 2017. Sales of Harry Potter audiobooks and ebooks are up. 7. Twitter boss Jack Dorsey had his account suspended by "mistake". It was back minutes after it had been suspended. 8. DeepMind has signed a major new deal with the NHS despite concerns about patient privacy. Royal Free London NHS Foundation Trust announced that it will start rolling out DeepMind's Streams app in hospitals from early 2017. 9. Apple announced it's doing Black Friday after dropping the event last year. A dedicated webpage says the fastest way to shop the event will be with the Apple Store app. 10. Amazon faces a holiday shipping disaster as pilots are going on strike. About 250 pilots employed by ABX Air, a subsidiary of Air Transport Services Group, went on strike Tuesday morning. www.businessinsider.com/10-things-in-tech-you-need-to-know-today-november-23-2016-11 |
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Post by huh on Nov 23, 2016 7:59:20 GMT -5
Frontrunning: November 23 S&P 500 Futures Signal Rally Ebbing; Bonds Decline in Europe (BBG) Oil prices capped by doubts OPEC-led cut will end glut (Reuters) Fed Minutes to Be Parsed for Insight on Inflation, Jobs (WSJ) Trump keeping 'open mind' on pulling out of climate deal (Reuters) Trump Raises Prospect of Keeping Ties to His Firms (WSJ) Obama's not-so-secret admirer: Donald Trump (Reuters) Facebook’s Fake News Crackdown: It’s Complicated (BBG) Iran warns of retaliation if U.S. breaches nuclear deal (Reuters) U.S. retailers push deals early as Black Friday loses focus (Reuters) For Department Stores, the Big Lure on Black Friday: $19.99 Boots (WSJ) How Apple Lost China to Two Unknown Local Smartphone Makers (BBG) Automakers seek to cut inventories with Black Friday, holiday promotions (Reuters) Xerox Overcharged Student Debtors, State Prosecutor Says (BBG) Wall Street’s Youngest Workers Not Worried About Robots (BBG) Brady Dougan Gets Back in the Game With $3 Billion Investment (WSJ) North Sea Oil Glut to Get Short-Term Relief as Flows Go East (BBG) www.zerohedge.com/news/2016-11-23/frontrunning-november-23 |
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Post by huh on Nov 23, 2016 8:31:56 GMT -5
Gold futures hitting that 1195-1201 downside target
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Post by huh on Nov 23, 2016 8:38:13 GMT -5
My plan had been to buy gold miners when/if gold tested the 1195-1201 area. A bounce there would form a H&S, and a RS peak could be as high as ~1300, though I was thinking it could squeeze even higher than that for a H&S-Squeeze-To-New-High (and why not? Every other H&S has). But I'm not so sure now. That EURUSD .95 target still looms. Tough one as it stands right here and I'll wait to see what happens with USD & EURUSD. Now we'll see if Gold futures want to form a larger H&S here. If so, that could get a RS peak up in the 1290's. GDX final FIB support ~20.63. If not, then Gold could easily see down to 1130's (target of another H&S) and market would go into full & final blow-off top IMO. So far at least, dollar futures not appearing to want to help gold as it still refuses to even backtest previous support in the 100.50's. Still seeing ES_F support ~2191, and still expecting that to get backtested. If that support holds, gold will get slammed. (yesterday's low in ES_F of 2191.75 didn't quite backtest its rising support - but came so close) |
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Post by Herceg on Nov 23, 2016 8:53:46 GMT -5
Silly reaction to DE missing numbers and saying we will do less worse.....looking at short later...........
JMO and BOL..............
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Post by huh on Nov 23, 2016 9:00:58 GMT -5
Silly reaction to DE missing numbers and saying we will do less worse.....looking at short later........... JMO and BOL.............. But it's PE only just now got >20. Muhahahaha |
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Post by huh on Nov 23, 2016 9:12:03 GMT -5
I still think DX_F will backtest 100.50's at a minimum. It would really be something if it didn't, something rarely ever seen in TA (which is why I think it will). Currently @ 101.17 and that pullback would put EURUSD ~1.0667 for it's broken support backtest I'm disappointed dollar futures didn't backtest those 100.50's, but not surprised considering the EURUSD chart, and the potential for a final blow-off top in the market. Keep an eye on that ES_F support ~2191. If it holds that would have major significance. Not just because it would give us the next upside target (which would be ~2221.50 btw) but something much, much more important than that. Can you see what it is? Huge bonus points if you do (I miss Mist's participation. I bet he'd already be on it) |
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Post by huh on Nov 23, 2016 9:31:46 GMT -5
Less than a week later: I think the other shippers (ie. DCIX, GLBS, SINO) are completing their final H&S-Squeeze-To-New-High patterns. Watch if news on DRYS isn't released until AFTER MM's have unloaded these others at multi-year highs... I'd say short 'em later today when the market goes green if you can - especially those that are up big and keep getting halted (DCIX currently @18, GLBS currently @11.50, etc.) Since then, in the wake of the DRYS "surprise" negative news, DCIX down 72%, SINO down 71%, GLBS down 57%, and DRYS down 92% Amazing what the charts can tell you. And, perhaps even more amazing, they're not done falling yet Starting to see posts that shares are becoming available again for shorting the shippers. Figures. Only now. If you ever had any illusions about this market being at all fair, in anyway, or believe in trading on company fundamentals, what happened with DRYS in the last few weeks should have killed all that. If you don't know exactly what happened, and how, I'd definitely suggest studying it. It would change your outlook on the markets, and therefore improve your trading dramatically IMO. Here's the Cliff Note: Everyone and every organization is working against you, the retail trader, even those supposedly there to "protect" you. |
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Post by clinton on Nov 23, 2016 9:32:39 GMT -5
wow $19T in debt and the dollar is this strong? what bullshit
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Post by clinton on Nov 23, 2016 9:43:11 GMT -5
dollar reminding me of 140 oil
something big has to change
cant just keep going up every day
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Post by novie08 on Nov 23, 2016 9:45:17 GMT -5
wow $19T in debt and the dollar is this strong? what bullshit Stupid question for the board, can we ever have $ strength like this and inflation at the same time? It seems all of the CBs want inflation, but it won't happen here in the U.S. with this dollar going ever higher. |
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Post by dino on Nov 23, 2016 9:46:13 GMT -5
Oil bullish IMO. Should be some good UWTI swings coming.  |
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Post by walnut on Nov 23, 2016 9:47:51 GMT -5
wow $19T in debt and the dollar is this strong? what bullshit Stupid question for the board, can we ever have $ strength like this and inflation at the same time? It seems all of the CBs want inflation, but it won't happen here in the U.S. with this dollar going ever higher. I don't think you could have a dollar this strong against other currencies, and have inflation |
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Post by walnut on Nov 23, 2016 9:48:49 GMT -5
Dollar seems to have killed the stock rally for the time being
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Post by novie08 on Nov 23, 2016 9:49:12 GMT -5
Here's the Cliff Note: Everyone and every organization is working against you, the retail trader, even those supposedly there to protect you.
This is why we are losing CONfidence in literally everything. The folks on this board have known this for the longest time, but it's just now dawning on at least a good percentage of the populations of the world. In short, we are CONtrolled and we don't like it.
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Post by clinton on Nov 23, 2016 9:53:42 GMT -5
dollar acts like interest rate increase will be 5%
its going to be TINY
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Post by clinton on Nov 23, 2016 9:54:44 GMT -5
Oil bullish IMO. Should be some good UWTI swings coming. I bought some GTE yesterday at 2.94 |
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Post by clinton on Nov 23, 2016 9:56:16 GMT -5
Stupid question for the board, can we ever have $ strength like this and inflation at the same time? It seems all of the CBs want inflation, but it won't happen here in the U.S. with this dollar going ever higher. I don't think you could have a dollar this strong against other currencies, and have inflation glad I bought a house 3 years ago my old apt is now $300 more a month there's your inflation, rent is crazy here in Richmond. |
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Post by novie08 on Nov 23, 2016 9:57:39 GMT -5
Thanks guys. Also if interest rates rise, shouldn't we be buying some banks? What's that regional bank ETF I used to trade?
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