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Post by theMist on Jul 28, 2017 7:22:50 GMT -5
10 Things You Need to Know Before the Opening Bell
Senate Republicans' 'skinny repeal' is dead. The healthcare bill failed by a vote of 51 to 49 after Sen. John McCain cast the final vote as a "no."
Japan's inflation matches expectations. Consumer prices in Japan rose by 0.4% year-over-year, but that remains well below the Bank of Japan's 2% target.
There's way too much weed in California. Marijuana producers in California have grown eight times the amount that is needed for consumption, the Los Angeles Times reports.
Amazon misses Wall Street earnings expectations by a mile. The e-commerce behemoth reported earnings of $0.40 a share, well below the $1.42 that Wall Street was anticipating.
Starbucks is shutting down its Teavana stores. The coffee giant beat on the top and bottom lines and said it was closing all 379 of its Teavana stores.
Meg Whitman takes herself out of the running for Uber CEO. HPE's chief executive tweeted, "I am not going anywhere," and said the "speculation of my future has become a distraction."
Dropbox is planning an IPO. The file-hosting service is close to hiring Goldman Sachs as a "lead adviser," according to Bloomberg.
Stock markets around the world are lower. Australia's ASX (-1.44%) led the losses overnight, and France's CAC (-1.22%) trails in Europe. The S&P 500 is set to open lower by 0.35% near 2,467.
Earnings reporting remains heavy. American Airlines, Chevron, and ExxonMobil are among the names set to report ahead of the opening bell.
US economic data flows. GDP will be released at 8:30 a.m. ET, and University of Michigan consumer confidence will cross the wires at 10 a.m. ET. The US 10-year yield is up 1 basis point at 2.32%.
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Post by theMist on Jul 28, 2017 7:23:55 GMT -5
10 Things You Need to Know in Tech today
1. Amazon's earning report for the second quarter shows that the company fell short of Wall Street's expectations, despite higher-than-expected revenue of $38 billion (£29 billion), as opposed to the expected $37.2 billion (£28.4 billion). The firm's rapidly rising expenses brought its operating income down 51% from the same period last year to $628 million (£480 million).
2. Apple is officially killing the iPod nano and the iPod shuffle. The company refreshed its iPod lineup on Thursday, and cut out the only two models that don't run on the iOS operating system.
3. Amazon CEO Jeff Bezos officially became the richest person on the planet, surpassing Bill Gates. His personal net worth is now estimated to be around $90 billion (£68 billion).
4. Twitter's report for its second quarter earnings mentioned that the company added zero new users over the last three months, and the stock fell 10% as a result. The company managed to beat Wall Street's expectations in terms of revenue, however, with $574 million (£438 million) versus an expected $537 million (£410 million).
5. The state of Wisconsin offered Taiwanese manufacturer Foxconn about $3 billion (£2.3 billion) in subsidies to build a factory there. The company itself plans to add another $10 billion (£7.6 billion) on top of that taxpayers' money, with the aim to create 13,000 new jobs.
6. Amazon plans to keep its Amazon Fresh and Amazon Go services after it completes the $13.7 billion (£10.4 billion) acquisition of Whole Foods. The company still wants to experiment and offer its customers a number of choices to figure out the best way they want to shop for groceries, as it believes "there will be no one solution."
7. Google is buying a number of properties in Silicon Valley, with an overall expenditure of about $820 million (£626 million). The company said that it now has more than 72,000 employees, and is looking to expand in the Sunnyvale, California area to branch out from its main Mountain View campus.
8. Dropbox is getting closer to its initial public offering, and is working with financial giant Goldman Sachs on the papers to bring it on as a lead adviser. The file-hosting service was last valued in 2014 at $10 billion (£7.6 billion).
9. HPE CEO Megan Whitman publicly pulled herself out of the list of potential Uber CEO replacements, shooting down speculation that emerged in recent days. The businesswoman reinstated her commitment towards HPE, claiming that she is "not going anywhere."
10. Facebook unveiled version 2.1 of its Messenger app, which now includes support for built-in natural language processing (NLP) as well as a payment SDK. In chats between customers and brands or businesses, the NLP tool will automatically detect the context of a message and pass it along to a bot, which in turn will give the end user tailored, automatic responses.
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Post by theMist on Jul 28, 2017 7:28:30 GMT -5
shorted VXX in premarket in trading acct
VXX 11.40 now
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Post by theMist on Jul 28, 2017 7:33:37 GMT -5
S&P Daily Chart
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Post by huh on Jul 28, 2017 7:35:13 GMT -5
I knew all I needed to do was post something bullish about AMZN to get it to pullback
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BigM
Full Member
Posts: 142
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Post by BigM on Jul 28, 2017 8:03:04 GMT -5
Hey guys. Happy Friday!
I haven't been around much lately.
Update on my GLD trade: - I paid .44. It increased into the .50s. My goal was .75. The trade expired last Friday and my broker Optionshouse sold me out at .03 at 2:00pm because I don't have $40,000 in my acct to take on 400 shares of GLD. I had bought 4 strangles to test out this strategy that looked good. - GLD just didn't move enough up or down in the 3 weeks of my trade to get the .75 I wanted. Don't feel bad for me tho. I had a good short on ES yesterday from 2473 to 2466.75!
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Post by theMist on Jul 28, 2017 8:03:19 GMT -5
So far the selling hasn't been broad based -- normal pullback stuff still
They sell Tech and they buy banks. They sell banks and they buy tech. lol
Unless we get a surprise, good possibility that S&P still rises to hit SP2500 before any real significant pullback.
Market is also waiting on tax reform
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Post by theMist on Jul 28, 2017 8:11:29 GMT -5
I can't imagine VXX not dropping down to at least fill the morning gap up IMO
we'll see...
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Post by walnut on Jul 28, 2017 8:17:00 GMT -5
That tap off the upper BB is always the best way to play premarket vxx IMO if it presents itself. But it doesn't always follow through all the way in the premarket.
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Post by huh on Jul 28, 2017 8:17:53 GMT -5
So far the selling hasn't been broad based -- normal pullback stuff still They sell Tech and they buy banks. They sell banks and they buy tech. lol ... That's exactly what's been happening. I mentioned that likelihood weeks ago, though NDX definitely went higher than I figured it might. But, just be careful that these last spikes weren't final H&S head tests. If so, then if/when the music stops, that seesaw may break right at its center. ES 2450 still the support to watch though - losing that would signal a H&S head test for it as well. This one's important because tech and banks could pullback and another sector keep S&P rising. ES losing it previous high would confirm a top though IMHO.
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Post by theMist on Jul 28, 2017 8:37:12 GMT -5
VXX 11.39 Need morning gap fill
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Post by huh on Jul 28, 2017 9:04:56 GMT -5
If AAPL & AMZN can hold their LODs now, market should be fine. But lose those and watch out (I still think banks are already toast)
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Post by huh on Jul 28, 2017 9:08:23 GMT -5
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Post by theMist on Jul 28, 2017 9:23:32 GMT -5
yep -- got out of short VXX trade
VXX tapped 10dsma and bounced hard
VXX 11.55
can fly still
S&P hanging on support and if that breaks...
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Post by ipath on Jul 28, 2017 9:24:55 GMT -5
your bear family welcomes you back Mist
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Post by ipath on Jul 28, 2017 9:25:29 GMT -5
what do you have for the upper bb for VXX
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Post by theMist on Jul 28, 2017 9:28:04 GMT -5
what do you have for the upper bb for VXX 13.60ish
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Post by ipath on Jul 28, 2017 9:30:09 GMT -5
I did lighten up my bear position by prob 40% yesterday and today at a small loss as I got in too early, but still hoping to get something out of it
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Post by theMist on Jul 28, 2017 9:35:12 GMT -5
I did lighten up my bear position by prob 40% yesterday and today at a small loss as I got in too early, but still hoping to get something out of it yeah -- me too I flipped the trade S&P support breraking -- next stop can be 2450 area
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Post by theMist on Jul 28, 2017 9:51:52 GMT -5
ttyl
have to bring puppy to airport -- flying to California
GL ALL
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