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Post by huh on Jan 10, 2017 7:59:12 GMT -5
10 things you need to know before the opening bell China's inflation slows. Data released by the National Bureau of Statistics showed consumer prices rose 0.2% in December, making for a 2.1% year-over-year gain. Pork, however, a staple of the Chinese diet, saw its price rise 6.2% versus a year ago. British stocks are on track to close in record territory for a 9th straight session. The FTSE trades up 0.4% at 7,264 and is on track for an 11th straight gain and ninth straight close in record territory. During the winning streak, the FTSE has tacked on about 3.2%. The US dollar has clawed back its early losses. The US dollar index slumped to a low of 101.51 in overnight action, but it now trades little changed near 101.85. A close below 101.52 would be the lowest for the greenback since the middle of December. Valeant is selling assets. The embattled drugmaker announced plans to sell three skincare brands to L'Oreal for $1.3 billion. Marissa Mayer is resigning from Yahoo's board. Mayer, Yahoo cofounder David Filo, and four other board members will step down once the Verizon merger goes through. Yahoo will change its name after the Verizon merger. A Securities and Exchange Commission filing released Monday showed that the part of Yahoo that is not included in the the Verizon merger — Yahoo's 15% of the Chinese retail giant Alibaba and a part of Yahoo Japan — will change its name to Altaba once the deal is complete. American Apparel has a new owner. The Canadian apparel maker Gildan Activewear won the auction for the failed retailer American Apparel with its bid of about $88 million, Reuters reports, citing a person close to the matter. Snap has chosen to move its international headquarters outside the US. The parent company of Snapchat says its international headquarters will be located in the UK. "We believe in the UK creative industries," Claire Valoti, the general manager of Snap Group Limited in the UK, said in a statement. "The UK is where our advertising clients are, where more than 10 million daily Snapchatters are, and where we’ve already begun to hire talent." Stock markets around the world are mixed. Japan's Nikkei (-0.8%) lagged in Asia, and Germany's DAX (+0.2%) leads the gains in Europe. The S&P 500 is on track to open little changed near 2,270. US economic data is light. JOLTS Job Openings will be released at 10 a.m. ET. The US 10-year yield is higher by 1 basis point at 2.38%. markets.businessinsider.com/news/stocks/10-things-you-need-to-know-before-the-opening-bell-1001654807
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Post by huh on Jan 10, 2017 8:00:07 GMT -5
10 things in tech you need to know today1. 1. Yahoo announced that, following the close of its merger with Verizon, what's left of the company will be changing its name to Altaba. This was disclosed in an SEC filing. 2. Marissa Mayer, the CEO of Yahoo, is resigning from the company's board. She will step down after Yahoo's $4.8 billion merger with Verizon is completed. 3. Alibaba founder Jack Ma met with President Elect Donald Trump. He pledged to create 1 million US jobs. 4. Apple is the greenest tech company in the world, according to Greenpeace. It took the title for the third year running. 5. Eric Schmidt and other high profile tech executives want government protection from China. They're calling for the federal government to clamp down on cross-border acquisitions by Chinese companies, protect US intellectual property, and "fast track" new chip manufacturing facilities. 6. Snap, the parent company of Snapchat, has chosen to base its international headquarters in the UK. Facebook, Uber, and Google have chosen other European countries including Ireland and the Netherlands as their international bases, to take advantage of lower corporation tax rates. 7. Two Samsung executives have been questioned in relation to a corruption scandal that involves South Korea's impeached president, Park Geun-hye. Corporate strategy office vice chairman Choi Gee-sung and president Chang Choong-ki were interviewed by prosecutors on Monday. 8. One of the most anticipated games of 2017 has been cancelled. "Scalebound" was due to be released on Xbox One and Windows 10 PCs for 2017. 9. Families of Americans killed by ISIS are suing Twitter for allegedly providing "tremendous utility and value" to the terrorist organization. The lawsuit was filed in the southern district of New York on January 8. 10. Apple may be working on its own version of Google Glass with German lens manufacturer Carl Zeiss. A Carl Zeiss employee told technology blogger Robert Scoble that the duo are working on "a light pair of augmented reality/mixed reality glasses". www.businessinsider.com/10-things-in-tech-you-need-to-know-today-january-10-2017-1
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Post by huh on Jan 10, 2017 8:00:42 GMT -5
Frontrunning: January 10 Immigration in focus as U.S. Senate confronts Trump nominees (Reuters) Jeff Sessions to Be Grilled on Race in First of Hearings (WSJ) Libya Ramps Up Oil Production, Threatening OPEC Plans (WSJ) Valeant to sell assets for $2.12 billion to ease debt load (Reuters) Industry Lobbyists Champ at the Bit, Awaiting Business-Friendly Policies (WSJ) Yahoo to be named Altaba, Mayer to leave board after Verizon deal (Reuters) Tillerson Must Answer for Trump, Big Oil, Even Putin in Hearing (BBG) China vows to contain corporate debt levels as inflation heats up (Reuters) Iraq forces advance in Mosul but civilian toll mounts (Reuters) Jack Ma Bets $2.6 Billion He Can Revamp China’s Retail Industry (BBG) Toshiba asks creditors not to call in loans: sources (Reuters) Gas Prices Take a Backseat for Auto Makers (WSJ) The World's Best Stock Gains Are in Emerging Markets (BBG) French presidential candidate Fillon says will outline EU plans to Merkel (Reuters) Johnson & Johnson to Report Average U.S. Price Increases (WSJ) Canadian apparel maker Gildan wins auction to buy American Apparel (Reuters) Mass killer Breivik makes Nazi salute at rights appeal case (Reuters) Fund That Made Money on Treasuries Says Rally Is About to End (BBG) Japan’s Takeda Looks to More Acquisitions to Fuel Global Growth (WSJ) www.zerohedge.com/news/2017-01-10/frontrunning-january-10
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Post by Herceg on Jan 10, 2017 8:20:26 GMT -5
ILMN...............expect a fade............no position yet............
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Post by huh on Jan 10, 2017 8:27:43 GMT -5
ILMN...............expect a fade............no position yet............ LT downside target ~70, but ideal short entry may be difficult. Watch those FIBs from the RS peak - and major resistance in the 164.50-171.70 range.
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Post by huh on Jan 10, 2017 8:29:55 GMT -5
S&P and DJI futures not looking so hot (bearish).
NDX and its futures currently look fairly neutral, however they are trading above their upper BB's, and that's without having tested the bottom BB since last test of the top. That typically signals a strong oversold overbought condition. Also, I believe QQQ will likely backtest down to at least ~117.70 soon.
IWM looks like it's building a small top here (descending triangle), and next support should be in the 130-131 range. But even a bounce from there would probably only create a larger H&S.
VX_F could go either way, however VXX building a potential (and small) double bottom since Thursday's close. A move >23.25 now would indicate it should play out and the upside target would be ~23.15. Though if that happens I think it'll run higher to the next gap fill ~23.70.
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Post by theMist on Jan 10, 2017 8:39:55 GMT -5
Awesome stuff. I think you mean overbought condition if trading above UPPER BBs.
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Post by huh on Jan 10, 2017 8:41:12 GMT -5
Awesome stuff. I think you mean overbought condition if trading above UPPER BBs. Uh, yep. Thanks. Bull market's gone on so long I forgot what oversold even meant. lol
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Post by huh on Jan 10, 2017 8:43:27 GMT -5
S&P and DJI both left upside gaps yesterday. I doubt those go unfilled, and are now their major resistances. They are 2277.18 and 19,966.68, respectively.
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Post by jacksrbtr on Jan 10, 2017 8:47:19 GMT -5
Continental Gold announced today that a $250M line of credit was secured to build the plant at Buritica Mine....the plant is estimated to cost $400M so at some time I guess there will be a stock dilution. Should be innerestin' to see how Mr.Market takes this news on the pps today GL mi amigos and muchachas (a new Mexican Restaurant opened in the neighborhood). (Same chain (Anita's) as the one Ashburn, VA) where some fukking asshole couple on Saturday left a note on their bill saying the service was good but that they dont tip black people.)
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Post by theMist on Jan 10, 2017 9:06:10 GMT -5
Huh, is this what your seeing for VXX?
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Post by theMist on Jan 10, 2017 9:23:53 GMT -5
Potential S&P H&S setting up. Way, way too early to call. lol
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Post by huh on Jan 10, 2017 9:25:58 GMT -5
Huh, is this what your seeing for VXX?[chart] Yep, pretty much. Here's how I'm seeing it. Possible Adam & Eve Double Bottom NOTE: This is not a double-bottom until it confirms. It could just as easily become a pattern for more downside
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Post by theMist on Jan 10, 2017 9:32:42 GMT -5
Watching for a RED Hollow candle on VXX 5 min and 15 min chart with confirmation. Too early still (obviously)
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Post by theMist on Jan 10, 2017 9:35:12 GMT -5
That really looks like a small slanted H&S pattern setting up on S&P 5, 15 min chart. But too early still. Needs confirmation
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Post by theMist on Jan 10, 2017 9:39:44 GMT -5
VXX red hollow on 5 min is a weak bottoming candle but has confirmation. All hopes now on 15 min. We need a quick burst of selling in S&P from 9:45am-10am EST
VXX can still rollover...need to see how next 20 mins plays out
I can't believe I am exactly even on my UVXY long position as I type. Averaged in on Friday and yesterday. An amazing accomplishment (long UVYX) when you think about it. lmao
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Post by theMist on Jan 10, 2017 9:48:23 GMT -5
Red Hollow on VXX 15 min...waiting confirmation in next 15 mins. Would have been better if S&P would have gapped up nice and high and sold off real fast at the open -- VXX would have gapped down and put in a real solid bottom candle with a sharp rise back up. That's the type of move I would have added more aggressively to my UVXY long position. For now, still waiting....and no trades
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Post by theMist on Jan 10, 2017 9:52:47 GMT -5
Nice, nice! some selling in S&P kicking in. Still waiting for confirmation on VXX 15 min.
Added 1k UVXY (now 5k out of 30k). If your playing along with me and have low risk tolerance, you can put stop in just below today's lod for UVXY
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Post by walnut on Jan 10, 2017 9:54:44 GMT -5
It is nice scams coming back up
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Post by theMist on Jan 10, 2017 10:02:57 GMT -5
lol Walnut. But its a weak move and can still rollover.
Red Hollow on 15 min has confirmation but weak green spinning top candle. This is not the type of bottoming pattern I would go aggressive long the SCAMs. We need a close for VXX above 22.41 for confirmation of double bottom. VXX can channel higher off today's low BUT can still rollover and appears to be doing so. Just not enough selling pressure in S&P.
Trade within your comfort zone and I would keep stop just below todays VIX SCAM lod if you have low risk tolerance and can't wait out upside gap fill over next 2 weeks. VXX close above 22.41 is confirmation of double bottom.
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