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Post by huh on Mar 9, 2017 7:49:42 GMT -5
10 things you need to know before the opening bell Oil tumbles below $50. West Texas Intermediate crude oil plunged more than 5% on Wednesday after Department of Energy data showed US inventories swelled to a record-high 528.4 million barrels. That selling has continued Thursday, with WTI down another 1.9% at $49.33 a barrel, its lowest since the end of November. The ECB meets. The European Central Bank is expected to hold its key interest rate unchanged at 0.00% at Thursday's meeting. The decision will cross the wires at 7:45 a.m. ET. China's inflation picture is mixed. Data released by the National Bureau of Statistics showed consumer prices in China rose 0.8% year-over-year, making for the slowest increase since January 2015. Producer prices soared 7.7% YoY, the biggest increase since September 2008. Australia has never had this many homes for rent. CoreLogic says, "The number of rental advertisements over the past year grew 8.7% higher for houses and 9.3% higher for units (apartments)," to 362,708 and 287,233 respectively, the most on record. Traders are certain the Fed will hike rates in March. World Interest Rate Probability data provided by Bloomberg shows a 100% chance the Federal Reserve will raise its key interest rate by 25 basis points to a range of 0.75% to 1.00% at the conclusion of its March 14-15 meeting. The 'trial of the century' begins in South Korea. Samsung head Jay Y. Lee denies all charges against him in a corruption scandal that has already caused the impeachment of South Korean President Park Geun-hye, Reuters reports. Radio Shack's operator files for bankruptcy protection. General Wireless Operations bought Radio Shack in 2015 when it filed for bankruptcy; now it has filed for Chapter 11 reorganization, Reuters reports. Stock markets around the world are lower. Hong Kong's Hang Seng (-1.2%) paced the decline in Asia, and Britain's FTSE (-0.7%) trails in Europe. The S&P 500 is on track to open lower by 0.1% near 2,361. Earnings reporting is light. Staples reports ahead of the opening bell. US economic data trickles out. Initial jobless claims will cross the wires at 8:30 a.m. ET. The US 10-year yield is unchanged at 2.56%. www.businessinsider.com/opening-bell-march-9-2017-2017-3
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Post by huh on Mar 9, 2017 7:50:31 GMT -5
10 things in tech you need to know today 1. Uber said it will stop targeting city officials with "Greyball" — the secret tool it used to deceive regulators. The New York Times revealed that it had been using the tool to evade authorities for years. 2. There's a little-known version of Tinder for celebrities, models, and millionaires called Tinder Select. Tinder has never publicized Tinder Select but it seems to have been around for at least six months. 3. Uber's top AI executive Gary Marcus is the latest to step aside after four months with the company. Marcus, the much-celebrated hire that was in charge of Uber's AI Labs, said in a Facebook post that he will now become a "special advisor" to Uber's AI efforts. 4. Amazon Alexa went down for some people and they freaked out about how to turn on the lights. The Alexa service is now operating normally. 5. The head of South Korea's Samsung Group, Jay Y. Lee, denies all charges against him. He is currently involved in what could be the "trial of the century" amid a political scandal that has rocked the country. 6. Google is poised to do the "unthinkable" and overtake Microsoft to become the #1 platform for getting online. That's according to a new report from analytics company Statcounter. 7. Larry Page's mystery flying car startup is expanding its fleet of oddball aircraft. Zee Aero registered two new aircraft with the Federal Aviation Administration on January 18. 8. Michael Acton Smith, the founder who built the addictive game Moshi Monsters, wants you to be less of a slave to your iPhone. Somewhat ironically, he's also the CEO of a new smartphone app. 9. Tesla is powering the Hawaiian island of Kauai with more than 54,000 solar panels and its giant battery packs. The solar farm has 13 megawatts of solar generation capacity. 10. Google is reportedly acquiring a data science community called Kaggle. The value of the deal is unclear. www.businessinsider.com/10-things-in-tech-you-need-to-know-today-march-9-2017-3
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Post by huh on Mar 9, 2017 7:51:07 GMT -5
Frontrunning: March 9 Investors Await ECB for Clues on Path of Policy (WSJ) U.S. crude slumps below $50 after stocks build (Reuters) Markets Are Selling Off as Dollar, Euro Gain (BBG) Opposition Mounts as GOP’s Health Bill Undergoes Review (WSJ) Ryan Ready to Twist Arms to Sell Health Plan to House GOP (BBG) Gutting Dodd-Frank Is Hard, So Republicans Turn to Easier Things (BBG) How Stocks Are Doing Eight Years After the Crisis-Era Low (WSJ) China Inflation Heads Off in Two Directions (WSJ) Three-Way Contest for Raqqa to Shape Mideast (WSJ) FBI Eyes Contractors in CIA Leak (WSJ) China expresses concern at revelations in Wikileaks dump of hacked CIA data (Reuters) PPG Makes $22 Billion Offer for Paint Rival Akzo Nobel, Is Rejected (WSJ) Macron consolidates lead over Le Pen in French election poll (Reuters) Shale Industry Binge Can ‘Kill’ the Oil Market, Billionaire Hamm Says (BBG) Rio Tinto Chairman Jan du Plessis to Step Down (WSJ) STMicro shares slump on concerns over Apple supplies (Reuters) Scotland's Sturgeon says could hold independence vote in 'autumn 2018' (Reuters) How to Become an International Gold Smuggler (BBG) Samsung Group chief denies all charges as 'trial of the century' begins (Reuters) Crashing Drones Into Test Dummies for Safety (BBG) Toshiba's Westinghouse calls in U.S. bankruptcy lawyers (Reuters) A Father of Fracking Seeks to Emulate U.S. Shale Boom in Alaska (BBG) www.zerohedge.com/news/2017-03-09/frontrunning-march-9
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Post by huh on Mar 9, 2017 8:01:56 GMT -5
I think IBB should see up to ~320 yet. Currently 296.38 Even though XLF went from very green to red yesterday, IBB saw positive action since this post. After some early downside this morning, watch for a move >299 now to confirm the larger pop to follow. Minimum move to ~319, but possibly up to ~338 (either only tests FIB resistances & fill open upside gaps within a larger topping pattern).
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Post by huh on Mar 9, 2017 8:08:11 GMT -5
...but I'm guessing we may see the previous scenario as it harvests more $$ from day traders (hurts more) Yep, looks like the 'hurts most' scenario for ES. I expect early day downside, then a move back > the neckline to confirm a turn and burn squeeze for this afternoon and tomorrow. ES came close to testing that shoulder test line. Hard to be bullish in the very near term now until either of 2 scenarios occur: 1) Breaks over that upper shoulder test line, or, 2) Falls below neckline but then rises back above it Either scenario would set market up for a new high IMO
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Post by theMist on Mar 9, 2017 8:11:34 GMT -5
S&P Futures hit my blue arrow and if that rising support breaks, next stop should be the next lower blue arrow BBL - running over to Scottrade office. lol pic hosting
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Post by huh on Mar 9, 2017 9:11:36 GMT -5
I wouldn't play oil long down here. I mentioned months ago (too lazy to search for it) that oil would likely fail its potential iH&S. Well, take a look at where oil futures peaked before turning back down to fail the neckline: I think oil will make a new lower low in this pattern. At that point it becomes a once (OK, twice) in a lifetime buy opportunity for a run to ~77+.
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Post by huh on Mar 9, 2017 9:30:24 GMT -5
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Post by lasvegas77 on Mar 9, 2017 9:32:36 GMT -5
long night guys. I sat through the futures down a whole 46 points and I was getting worried with vxx up to 17.47.
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Post by walnut on Mar 9, 2017 9:35:44 GMT -5
Yeah I was surprised it got that bad
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Post by huh on Mar 9, 2017 9:38:38 GMT -5
It got bad?? I gotta run. But remember, a drop in ES to ~2359.50 or lower, followed by a rise back >2360 would be very bullish in the near term IMO... Overnight low was 2359.00, and only for a few seconds. 2359.50 was where the buying kicked in.
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Post by walnut on Mar 9, 2017 9:41:53 GMT -5
For an overnight VXX shorter with a large position, 17.47 oh yeah it got bad enough haha
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Post by theMist on Mar 9, 2017 9:42:55 GMT -5
Just got back from my friends over at local Scottrade office.
Gave them a whole lesson on VIX ETPs. lol
kind of stuck not being able to trade - put in wire transfer out of IB and have to wait until Scott is funded again
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Post by theMist on Mar 9, 2017 9:44:30 GMT -5
VXX gapped down underneath shooting star
waiting to see how next candle closes out.
VXX needs to drop back down in next minute - don't want to see it go solid green by 9:45am est
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Post by lasvegas77 on Mar 9, 2017 9:45:48 GMT -5
For an overnight VXX shorter with a large position, 17.47 oh yeah it got bad enough haha Yeah. tell me about it.
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Post by huh on Mar 9, 2017 9:46:03 GMT -5
That neckline in ES sits ~2360 now. Drop below that again and not enough shorts are on board yet (that's the stop for short VIX scam positions IMHO).
Otherwise, turn and burn, Baby. Turn and Burn!
Catch ya guys later, and BOL
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Post by lasvegas77 on Mar 9, 2017 9:56:50 GMT -5
Just got back from my friends over at local Scottrade office. Gave them a whole lesson on VIX ETPs. lol kind of stuck not being able to trade - put in wire transfer out of IB and have to wait until Scott is funded again One thing about scottrade is it's hard to take money out of the account unless you make a cash account with the other account.
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Post by theMist on Mar 9, 2017 9:58:07 GMT -5
VXX Hourly indicators still bullish VXX gapped down this morning and hit a low of 17.16 -- that would have been good spot to jettison out of as well as yesterday's backtest. just have to be careful - If they hit S&P sell button, VXX can get up to that VXX 17.40 range easily image share
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Post by theMist on Mar 9, 2017 9:59:00 GMT -5
Just got back from my friends over at local Scottrade office. Gave them a whole lesson on VIX ETPs. lol kind of stuck not being able to trade - put in wire transfer out of IB and have to wait until Scott is funded again One thing about scottrade is it's hard to take money out of the account unless you make a cash account with the other account. It's actually been quite easy for me - they gave me a check book. Scottrade used to even have a debit card but not anymore. IB only does wire and ACH transfers.
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Post by clinton on Mar 9, 2017 10:00:58 GMT -5
from yesterday
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