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Post by huh on Apr 20, 2017 7:01:12 GMT -5
10 things you need to know before the opening bell The White House is reportedly taking another stab Trumpcare. The Trump administration is trying to make progress in its attempt to repeal and replace Obamacare before Trump's 100th day in office, which happens next week, CNN reports. China is reportedly relaxing measures that restrict money from leaving the country. The People's Bank of China is reportedly relaxing measures that restrict capital outflows as a pullback in the US dollar has lessened pressure on its currency, the yuan, Reuters says, citing unnamed sources. UK Parliament backs an early election. Members of Parliament voted 522 to 13 to back prime minister Theresa May's call for a general election. The British pound is stronger by 0.4% at 1.2822 against the dollar. Oil is rebounding. West Texas Intermediate crude oil fell 4% on Wednesday as oil inventories fell less than expected and gasoline supplies jumped for the first time in several months. On Thursday, WTI trades up 0.7% at $50.80 a barrel. Short bets against Wingstop are piling up. Short interest in the stock is at its highest level since the wing chain went public back in June 2015, data from financial analytics firm S3 Partners shows. Qualcomm beats. The chipmaker earned an adjusted $1.34 per share, well ahead of the $1.19 that analysts were anticipating, helping to ease concerns over its patent-licensing business. American Express beats as card member spending jumps. The company earned $1.34 per share on revenue of $7.89 billion as card member spending grew 8% on a currency adjusted basis. Stock markets around the world are higher. Hong Kong's Hang Seng (+1%) led in Asia and France's CAC (+0.9%) sees solid gains in Europe. The S&P 500 is set to open up 0.2% near 2,344. Earnings reporting picks up. Blackstone, DR Horton, and Verizon will report ahead of the opening bell while Visa is set to release its quarterly results after markets close. US economic data flows. Initial jobless claims and the Philly Fed will both be released at 8:30 a.m. ET. The US 10-year yield is up 1 basis point at 2.23%. www.businessinsider.com/opening-bell-april-20-1017-2017-4
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Post by huh on Apr 20, 2017 7:02:10 GMT -5
10 things in tech you need to know today 1. Google is reportedly developing an ad blocker for its web browser Chrome. The move could expose Google to criticism, given the fact it operates ad networks of its own. 2. Smartphones will officially become glasses in 2022, a Facebook exec brashly predicts. That's according to Michael Abrash, chief scientist at Facebook-owned Oculus Research. 3. The CEO of $3.7 billion (£2.9 billion) security startup Tanium is facing another scandal. Orion Hindawi has allegedly been giving potential customers a view into a hospital's live network. 4. A lawsuit alleges a Bose app secretly collects and shares everything its headphone users listen to. Bose is accused of sending info to third-party companies without its users' permission. 5. Microsoft is killing off popular note-taking app Wunderlist, ZDNet reports. It's being replaced by To-Do. 6. Tesla owners have filed a class-action lawsuit alleging Autopilot 2 is "demonstrably dangerous." Law firm Hagens Berman says the self-driving tech is "essentially unusable." 7. Facebook has unveiled two more 360-degree cameras, Fortune reports. The devices are designed for shooting 360-degree video. 8. Amazon is opening up the voice-control technology behind Alexa to other developers. Engadget reports that devs will be able to use "Lex" to add voice-control to their products. 9. Qualcomm's earnings beat has helped smooth over concerns over its patent-licensing building. The chip-making firm announced its quarterly earnings on Wednesday, and its stock jumped 2.4%. 10. Facebook is working on tech to let you type with you brain and "hear with your skin." The company is developing experimental brain-computer-interface technology. www.businessinsider.com/10-things-in-tech-you-need-to-know-april-20-2017-4
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Post by huh on Apr 20, 2017 7:11:05 GMT -5
Frontrunning: April 20 White House to risk shutdown as Trump searches for “win” (Politico) Saudi Minister Wants OPEC Oil-Production Deal Extended, Perhaps for Less Than 6 Months (WSJ) Russia denies Reuters report think tank drew up plan to sway U.S. election (Reuters) Fed's Kaplan: Three rate rises this year 'still a good baseline' (Reuters) Ex-Arconic CEO Sent Vague Threat to Hedge-Fund Boss (WSJ) Can, kicked: IMF may fund Greek bailout with small amount, for one year (Reuters) Hard Dose of Reality Hits Anti-Brexit Campaigners (BBG) Egypt says air strikes kill Islamic State leaders in Sinai (Reuters) Bose headphones spy on listeners: lawsuit (Reuters) French Industrial Decline Fuels Le Pen’s Rise (WSJ) China's Stocks Refuse to Drop More Than 1% (BBG) China Shakes Up Regulators in Scramble for Stability (WSJ) China sees higher risk of mass unemployment, pledges more support (Reuters) A Quarter of Millennials Who Live at Home Don’t Work — or Study (BBG) Man Group's Assets Rise to Record on Largest Inflows Since 2011 (BBG) Putin Quietly Detaches Ukraine's Rebel Zones as U.S. Waffles (BBG) House Speaker Ryan sees long battle over tax reform (Reuters) Western Digital, Japan Investors in Toshiba Unit Sale Talks (BBG) The Most Closed-Off Nordic Nation Is Yearning for Immigrants (BBG) Housing Crunch Threatens Reno’s Tech Boom (WSJ) White House sidewalk to be closed to public permanently (Reuters) Macquarie to Boost U.K. Green Bank After $3 Billion Purchase (BBG) The Biggest Time Suck at the Office Might Be Your Computer (BBG) www.zerohedge.com/news/2017-04-20/frontrunning-april-20
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Post by Herceg on Apr 20, 2017 7:28:15 GMT -5
Mist & Walnut, I know you both love to short the VIX scams...................since most agree that we are headed lower, do either of you ever short XIV on the downside?
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Post by theMist on Apr 20, 2017 7:36:08 GMT -5
Mist & Walnut, I know you both love to short the VIX scams...................since most agree that we are headed lower, do either of you ever short XIV on the downside? Well, technically I am short term neutral and still long term bullish. I believe Bears still have more to prove before I buy into the dark side. Worse case I see is SP2300 and for that to be negated Bulls would have to take SP to new highs (over SP2400). And even SP2300 is proving to be a very difficult task. And for Bull trend off March '09 lows to be broken, SP would have to go a lot lower than SP2300 Just been playing VXX long or short lately -- but shorting XIV for a spike in volatility is also another good way of playing Bear side. But going long the SCAMs or shorting XIV will mean stomaching some very wild swings and your exit strategy has to be precise -- sometimes matter of minutes to get out with profits. Definitely going long VIX SCAMs (or shorting XIV) is a difficult trade and I definitely would not recommend it for long term hold. Daytrades, swing trades only.
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Post by theMist on Apr 20, 2017 7:46:34 GMT -5
VXX Hourly chart (Reg Market chart)In premarket (premarket chart not shown), VXX is backtesting that descending channel break VXX Daily Chart (Reg Market Chart)At possible inflection point, flirting with breaking out of larger descending channel on VXX Daily chart -- awaiting direction
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Post by huh on Apr 20, 2017 7:53:28 GMT -5
If S&P loses that March low of 2322.25, which would likely happen with a gap down because of the Island aspect of it, all bullish TA disappears. But I don't see that as a bull flag in the futures anyway since the bottom of that channel has already failed Interesting note: As of yesterday's close, DJI is already below its March low. I think that sets it up for ~3% (~600pts) more downside before it's next major consolidation
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Post by theMist on Apr 20, 2017 8:00:57 GMT -5
If S&P loses that March low of 2322.25, which would likely happen with a gap down because of the Island aspect of it, all bullish TA disappears. But I don't see that as a bull flag in the futures anyway since the bottom of that channel has already failed Interesting note: As of yesterday's close, DJI is already below its March low. I think that sets it up for ~3% (~600pts) more downside before it's next major consolidation I hear ya Huh and I still am awaiting more direction and I'm actually cheering for the Bears to get VXX a lot higher but am getting frustrated Also, for DOW, you can also make the argument that DOW movement these past few days has been distorted because of GS and IBM
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Post by huh on Apr 20, 2017 8:01:31 GMT -5
If S&P loses that March low of 2322.25, which would likely happen with a gap down because of the Island aspect of it, all bullish TA disappears. But I don't see that as a bull flag in the futures anyway since the bottom of that channel has already failed Interesting note: As of yesterday's close, DJI is already below its March low. I think that sets it up for ~3% (~600pts) more downside before it's next major consolidation Correction: I think it'll get down to its gap fill ~19885, which is ~520pts down from here (Double-Top target pointing right to it)
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Post by walnut on Apr 20, 2017 8:02:47 GMT -5
Mist & Walnut, I know you both love to short the VIX scams...................since most agree that we are headed lower, do either of you ever short XIV on the downside? You can do it if momentum is really on your side at that moment but it is usually hard to time it right. BTW- VXX shoots up better than XIV goes down on major moves, but either would work short term
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Post by huh on Apr 20, 2017 8:07:22 GMT -5
...Also, for DOW, you can also make the argument that DOW movement these past few days has been distorted because of GS and IBM Could also make the argument that it was only distortion when they pushed the DJI up hard since October
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Post by walnut on Apr 20, 2017 8:08:07 GMT -5
VXX does not seem to be very worried about a correction yet, neither does vix, bears better get busy or this selloff is gonna be over before long.
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Post by theMist on Apr 20, 2017 8:08:59 GMT -5
...Also, for DOW, you can also make the argument that DOW movement these past few days has been distorted because of GS and IBM Could also make the argument that it was only distortion when they pushed the DJI up hard since October lol - your right that's why I don't even look at DOW and don't even really chart it -- its only 30 stocks but obviously some like to use it as a possible leading indicator along with Dow Transports, those that believe in DOW Theory and I can see that
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Post by huh on Apr 20, 2017 8:19:28 GMT -5
VXX does not seem to be very worried about a correction yet, neither does vix, bears better get busy or this selloff is gonna be over before long. Since 03/20, S&P is down 35.3 pts, or 1.5%, yet VXX is up 1.8pts, or 11.4%. That's a 7.6x's inverse outperformance. I think VXX is a little worried about something.
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Post by huh on Apr 20, 2017 8:29:48 GMT -5
Sorry guys, I know I sound like a super bear (or an a$$), but I just don't see the bullish side. Since the 03/01 high, every sector has been selling off (except the "AMZN sector" that is). Unless the S&P breaks this Double-Top pattern, I just can't see a bullish bias here
And as for AMZN, I do think we're going to see a lot of retail BK's this year - the big, brick and mortar chains - which is probably why AMZN is doing so well. Hard to get bullish exposure to retail sales without being in AMZN
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Post by theMist on Apr 20, 2017 8:31:27 GMT -5
I really would have loved to see VIX SCAMs up in premarket and was looking to short them back down for a quick scalp of backtest of descending channel break
VXX should fill the morning gap to 17.61 at some point
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Post by walnut on Apr 20, 2017 8:35:49 GMT -5
VXX does not seem to be very worried about a correction yet, neither does vix, bears better get busy or this selloff is gonna be over before long. Since 03/20, S&P is down 35.3 pts, or 1.5%, yet VXX is up 1.8pts, or 11.4%. That's a 7.6x's inverse outperformance. I think VXX is a little worried about something. That's regular stuff for VXX, it is leveraged that way. VXX moved up almost 25% in November, only to have the bull resume stronger than ever. But, I am not saying you are wrong about the bear, you may be right. But I don't think VXX reaction is predicting anything yet IMO. That could change today, or anytime.
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Post by theMist on Apr 20, 2017 8:42:16 GMT -5
VXX hourly / daily chartVXX Hourly indicators bullish
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Post by walnut on Apr 20, 2017 8:44:58 GMT -5
VXX may set up for nice trading later on today I hope with a bullish start
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Post by huh on Apr 20, 2017 8:49:38 GMT -5
So MNKD did a reverse split? That's not good. Only gives it more wiggle room below, and looking at its chart, that's very likely. MNKD down nearly 50% since... Still holding my WMB. Nice bounce the last 2 days. Think the market still goes up Huh-- our friend MNKD has begun it's descent "MNKD, you are now cleared for landing. Commence to waypoint Charlie and descend to angel .50's for final approach. Wheels on roof at .20's."...and down ~86% since this post a year ago, and has finally hit those pre-split .20's (reverse split was 5x's). ~1.05 would at last satisfy the multi-year, long term downside target. Though I'm not seeing much for the bulls even when it does unfortunately. Not right now at least.
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