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Post by huh on Jul 21, 2017 7:39:55 GMT -5
10 things you need to know before the opening bell The euro is at its highest level in 2 years. The single currency hit a high of 1.1677 versus the US dollar on Friday despite European Central Bank head Mario Draghi striking a dovish tone during a speech Thursday. China's former 'King of IPOs' has been found guilty of corruption. Yao Gang, the former vice chairman and second-in-command at China's securities regulator, the China Securities Regulatory Commission, was found guilty of "abusing his power to seek benefits and accepted huge amounts of money." North Korea's economy is booming. The Bank of Korea estimates that the hermit kingdom's economy grew at a 3.9% year-over-year rate in 2016, making for the fastest growth since 1999. Colorado has been raking in money from marijuana. Colorado has raked in more than $500 million in marijuana revenue since the drug was legalized in 2014, according to a report released Wednesday by VS Strategies, a marijuana public-relations firm in Denver. Apple's win streak is over. The tech giant's nine-day win streak is over after shares slid by 0.45% on Thursday. Apple shares gained about 6% during the streak. Microsoft's cloud business is growing. Microsoft beat on the top and bottom lines and said revenue for its cloud business climbed by 11% to $7.43 billion. EBay gives a tepid profit forecast. The online marketplace expects third-quarter adjusted earnings of $0.46 to $0.48, which is a tad below the $0.48 that analysts were anticipating. Visa raises it full-year earnings forecast. The credit-card giant beat on both the top and bottom lines and said it expected annual adjusted earnings per share to grow by about 20%, up from its previous estimate of mid-teen percentage-point growth. Stock markets around the world are mostly lower. Australia's ASX (-0.77%) trailed overnight, and Germany's DAX (-0.31%) lags in Europe. The S&P 500 is set to open little changed near 2,473. Earnings reporting is light. General Electric reports ahead of the opening bell. www.businessinsider.com/opening-bell-july-21-2017-2017-7 |
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Post by huh on Jul 21, 2017 7:40:58 GMT -5
10 things in tech you need to know today 1. The biggest black market on the so-called "dark net," AlphaBay, has been taken down by authorities, Attorney General Jeff Sessions said on Thursday. AlphaBay connected drug vendors with people seeking drugs like fentanyl and heroin, authorities said. 2. Samsung sent out invitations for a product launch event for its next major smartphone, the Galaxy Note 8. The launch will take place on August 23 in New York City. 3. Google DeepMind's CEO and Uber's chief scientist backed a UK chip company in a $30 million round. It's called Graphcore and it's based in Bristol. 4. Johnson Controls, a company that develops services that manage buildings' ventilation and fire detection systems, unveiled a smart thermostat that comes with Microsoft's Cortana personal assistant built in. The company showed off the thermostat, dubbed GLAS, in a short video posted on YouTube. 5. Facebook is exploring creating a mysterious new hardware device. A patent application published by the company details a "modular electromechanical device" that can incorporate a speaker, microphone, touch display, GPS, and even function as a phone. 6. Amazon's $12 billion cloud is seeing its "first-ever downtick" in momentum, according to Deutsche Bank. Migration of existing businesses to the cloud is happening at a slower rate than originally anticipated. 7.Elon Musk says he got "verbal government approval" to build a Hyperloop between New York and DC. The Hyperloop could shuttle people between New York and Washington DC in 29 minutes, Musk said. 8. Bitcoin soared on Thursday, trading up 13.01% at $2,576 a coin. The cryptocurrency continues to rally as traders look ahead to the August 1 decision on whether or not bitcoin will be split in two. 9. The "Game of Thrones" season 7 premiere was pirated a staggering 90 million times. The figure is nearly six times as many as the official view count. 10. Apple reportedly chose LG to be the only supplier of L-shaped batteries for next year's iPhone. LG allegedly invested "hundreds of billions" of wons in the operation, which will include the construction of dedicated facilities to keep up with Apple's demand. www.businessinsider.com/10-things-in-tech-you-need-to-know-today-july-21-2017-7 |
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Post by novie08 on Jul 21, 2017 8:13:42 GMT -5
The euro is at its highest level in 2 years. The single currency hit a high of 1.1677 versus the US dollar on Friday despite European Central Bank head Mario Draghi striking a dovish tone during a speech Thursday.
Exact opposite of what I thought. Now markets up, dollar down as in the old days.
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Post by theMist on Jul 21, 2017 8:37:48 GMT -5
Huh, any charts?
We need China to blow up Sunday night lol
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Post by walnut on Jul 21, 2017 8:41:49 GMT -5
Sunday night? How about Friday morning lol
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Post by walnut on Jul 21, 2017 8:42:24 GMT -5
I want to go on vacation. Need this crash to happen on my schedule haha
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Post by theMist on Jul 21, 2017 8:46:15 GMT -5
Jim's notes and video
My Note: Haven't watched video yet but just read his notes. I don't think he takes into consideration that this triangle/iH&S breakout
never backtested the neckline. He also doesn't watch spot vix, volatility. Spot vix is once again under 10. Going to watch video now
7/20/2017 S&P 500 Daily Update
We are now in somewhat uncharted waters. There are 4 things that I think are DIRECTLY applicable to the chart that COULD come into play over the weeks and months ahead. Here they are:
1. The orange rising wedge. This is a bearish influence and it HAS broken down and, if it does what wedges typically do, we have this influence that would want to take us back to the low 2100's.
2. There is also a smaller rising wedge that has the same kind of implication but to a much lesser degree than the orange pattern.
3. The is a teal colored channel that has been working over the last 15 weeks or so. We are fairly close to touching the upper line and that would not surprise me at all.
4. And, we have our fairly large ascending triangle that is outlined in yellow. This pattern tells us to expect a minimum target of 2488.
For the longer term, we have our large rising blue channel that this video compares to the rate of return that the S&P gave from the mid 1970's until the year 2000. And, for those with wild speculation in mind, we have that double dip pattern that I first pointed out a few years ago, but I was too chicken then (as well as now) to tell ANYONE to actually EXPECT a target north of 3500. However, I first thought about this 'crazy' 3500 target when the S&P was around 1700. In terms of percent, we are more than half way there today.
So, for the real nitty gritty as to WHEN a major top can be confirmed, I would rely upon the lower blue support line in the huge channel. I know that there is a significant distance between support and resistance in this channel. But this is often the case. We cannot call a top when we just hit resistance. We can only call a top when highly significant support is BROKEN, and we also see a topping pattern develop in the process. This often happens with a pullback as being part of the pattern. If you look at last major top in 2007/2008 you will see this nicely.
Until support breaks, any call of a top COULD be correct, but could also be wrong. Please try to remain open-minded. This market has been punishing bears for years and until they capitulate (give up), they will likely continue to hurt themselves. Remember, bottoms happen when longs give up in total disdain and disgust. Tops happen when shorts finally cover in panic while the last retail investors get pulled in on a final rally that is often dramatic and 'newsworthy'.
At this point, care is in order. But so is being open minded.
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Post by novie08 on Jul 21, 2017 8:51:34 GMT -5
Seems like a lot is riding on tax reform and can they get that done...doesn't look like it. OTOH, the bond market is also crucial. Will Yellen raise again this year (as promised) or not (as promised), lol.
Still have two munis, one of which has rallied considerably in the last month. Go figure.
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Post by novie08 on Jul 21, 2017 8:55:34 GMT -5
Still wanting to trade GBTC...it is sooo volatile. Watching for awhile first. Anyone have thoughts on this one?
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Post by clinton on Jul 21, 2017 8:58:16 GMT -5
every dip bought
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Post by clinton on Jul 21, 2017 9:01:31 GMT -5
Ill be shocked if spy goes bellow 200ma on 10 min chart
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Post by ipath on Jul 21, 2017 9:06:10 GMT -5
SP500 down .3% and VXX up only 7c, market obviously doesn't take this dip seriously
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Post by walnut on Jul 21, 2017 9:06:53 GMT -5
Ill be shocked if spy goes bellow 200ma on 10 min chart You were sounding kinda spooked on the market about 3 or 4 days ago? Changed your mind hmm.. I don't blame you, it is like standing in front of the tide. |
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Post by ipath on Jul 21, 2017 9:10:12 GMT -5
So far making money with SPY put options, sold Kohls call options yesterday at the peak, long SDS and short EWT. Still losing on TVIX
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Post by theMist on Jul 21, 2017 9:21:50 GMT -5
So far making money with SPY put options, sold Kohls call options yesterday at the peak, long SDS and short EWT. Still losing on TVIX What was your entry point in TVIX? I know you were earlier than me |
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Post by theMist on Jul 21, 2017 9:23:01 GMT -5
BTW - 7 straight days spot vix under 10
This obviously is not the move I'm looking for but would be happy with a green close in VXX and spike on Monday
But I could be 1-2 weeks too early still
My IRA is up because I went long soxs, spxu, some vxx. Long volatility is definitely not an easy trade
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Post by ipath on Jul 21, 2017 9:27:10 GMT -5
So far making money with SPY put options, sold Kohls call options yesterday at the peak, long SDS and short EWT. Still losing on TVIX What was your entry point in TVIX? I know you were earlier than me My average on TVIX is $18.. but didn't take a hit because I had many SLV call options and that was making up for it. Now I am on my own lol |
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Post by walnut on Jul 21, 2017 9:28:13 GMT -5
BTW - 7 straight days spot vix under 10 This obviously is not the move I'm looking for but would be happy with a green close in VXX and spike on Monday But I could be 1-2 weeks too early still My IRA is up because I went long soxs, spxu, some vxx. Long volatility is definitely not an easy trade VXX seems to have bottomed for the time being. It might be back to dropping very soon though. Should be some volatility coming before long and the trade should work. |
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Post by ipath on Jul 21, 2017 9:31:10 GMT -5
All I need is for Kohls to make a deal with Amazon like Sears did and those sold call options fly to $10, then I would be really screwed 
Just checked my exact average on TVIX was $18.02 |
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Post by theMist on Jul 21, 2017 9:48:56 GMT -5
talk to you guys later
I'm not going to watch markets all day every day
I'm going to maintain bearish positions and my time frame is more longer term --would like to see move back down to low 2400 within a few weeks
And possible S&P hits 2500 and VXX 11 before then
ttyl
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