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Post by huh on Aug 17, 2017 6:49:45 GMT -5
10 things you need to know before the opening bell Most Fed officials support a move toward unwinding the Fed's balance sheet. Wednesday's release of the minutes from the July Federal Open Market Committee meeting showed most Federal Reserve officials supporting a move toward unwinding the Fed's $4.5 trillion balance sheet at "an upcoming meeting." Trump's 2 business councils disintegrate. President Donald Trump tweeted he was disbanding the Strategic and Policy Forum and a separate manufacturing council; a mass exodus of executives had made their end seem imminent. Euro-area inflation holds. Inflation in the euro area held at 1.3% year-over-year in July, according to data released by Eurostat. The US government files a $400 billion Libor claim. The Federal Deposit Insurance Corporation's $400 billion suit, filed on behalf of 39 banks rescued during the financial crisis, accuses banks including Barclays, Lloyds Banking Group, and Royal Bank of Scotland of keeping Libor rates artificially low, contributing to numerous bank failures during the financial crisis. Bitcoin is back near record highs. The cryptocurrency trades up 0.89% at $4,446 a coin, just below its all-time high. Amazon borrows money more cheaply than a lot of countries. On Tuesday, the e-commerce giant priced its $16 billion bond offering to fund its Whole Foods deal, selling $3.5 billion worth of 10-year notes at a yield of about 3.2%, below China, Mexico, and Russia. Cisco's revenue guidance misses. The company beat on the top and bottom lines but said it expected revenue to decline by 1% to 3% to about $11.8 billion for the first quarter of 2018, missing the Wall Street estimate of $12.6 billion. Stock markets around the world are lower. Australia's ASX (+0.57%) lagged overnight, and Britain's FTSE (+0.30%) trails in Europe. The S&P 500 is on track to open lower by 0.13% near 2,465. Earnings reports flow. Alibaba and Walmart report ahead of the opening bell, while Gap and Ross Stores announce their quarterly results after markets close. US economic data is heavy. Initial claims and the Philly Fed will be released at 8:30 a.m. ET before industrial production and capacity utilization cross the wires at 9:15 a.m. ET. The US 10-year yield is up 1 basis point at 2.23%. www.businessinsider.com/opening-bell-august-17-2017-2017-8
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Post by huh on Aug 17, 2017 6:50:50 GMT -5
10 things in tech you need to know today 1. Facebook shut down an online, internal discussion group after employees starting using it to harass each other about politics. The anonymous group was originally intended for people to talk about their work concerns, but quickly turned ugly. 2. Neo-Nazi news site The Daily Stormer was taken offline by hackers as soon as it lost its last line of defence — protection from web services company Cloudflare. Cloudflare's CEO Matthew Prince said he was "deeply uncomfortable" for dropping a customer over political pressure. 3. Amazon's share price dropped 0.5% after President Trump tweeted the company was "doing great damage to tax paying retailers." The company has been a frequent target of Trump on Twitter. 4. Conspiracy theorist and Trump supporter Jack Posobiec called off a multi-city "March on Google" protest, over possible threats of violence from counter-protestors. The march had been planned to protest the treatment of fired Google engineer James Damore. 5. Mark Zuckerberg and Apple CEO Tim Cook have spoken out against "hate" after the violent Charlottesville march. In a letter to employees, Cook said "hate is a cancer", while Zuckerberg asked "where this hate comes from." 6. Bitcoin is recovering from its previous wobble, and is nearing its prior record high of $4339.79. The cryptocurrency hit that record on Tuesday, before falling over, and is now at $4313.91. 7. Female engineers discussing James Damore's firing from Google said he didn't lose his job for, as he claims, "speaking truth to power", but for mishandling a sensitive debate. "Social skills are part of the professional skillset," one wrote. 8. Uber has hired a former Goldman Sachs executive to run its business in Southeast Asia, where it's conventionally faced challenges from regulators. Brooks Entwistle headed up the bank's regional business, and becomes Uber's chief business officer for Southeast Asia. 9. Apple wants to spend $1 billion on original content over the next year, aiming to make up to 10 shows on a similar scale to "Game of Thrones." The company hired two Sony executives in the last few months. 10. Google has bought AlMatter, the Belarusian maker of selfie editing app Fabby, for an undisclosed amount. Fabby will continue to run for now, and the deal illustrates just how popular computer vision startups are right now. www.businessinsider.com/10-things-in-tech-you-need-to-know-today-august-17-2017-8
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Post by huh on Aug 17, 2017 7:29:00 GMT -5
Watching for 3 more major upside gap fills this morning: SPX 2474.02 DJI 22,086.54 NDX 5,926.82 Of course they mean nothing unless market pulls back hard after filling them SPX filled its upside gap, and I hadn't even noticed it yesterday morning, but there was another still open gap a little higher at 2474.92. SPX's HOD was 2494.93 DJI filled its upside gap, overshooting it by only 37 cents, or 0.17% NDX overshot its gap fill slightly - enough to come within pennies of testing its 76.4 retracement from the all-time high made 07/27 That now completes all the major upside gap fills
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Post by theMist on Aug 17, 2017 7:33:40 GMT -5
Watching for 3 more major upside gap fills this morning: SPX 2474.02 DJI 22,086.54 NDX 5,926.82 Of course they mean nothing unless market pulls back hard after filling them SPX filled its upside gap, and I hadn't even noticed it yesterday morning, but there was another still open gap a little higher at 2474.92. SPX's HOD was 2494.93 DJI filled its upside gap, overshooting it by only 37 cents, or 0.17% NDX overshot its gap fill slightly - enough to come within pennies of testing its 76.4 retracement from the all-time high made 07/27 That now completes all the major upside gap fills I think the news media saw the upside gap fills as well and blasted the markets with bad Trump news once they were filled . lol They also stuck a fork in the iH&S pattern that was starting to breakout - timing was beautiful lol Anyway, shorting VXX in increments this morning 12, 12.04. Keeping a lot of dry powder. bb in few
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Post by huh on Aug 17, 2017 7:34:33 GMT -5
XLF, BAC, QQQ, AAPL, AMZN & the lower gap for IWM were all filled on Tuesday. I doubt if IWM will try for the higher & final gap ~140 as Tuesday's high was a 50% retracement from the last FIB retracement made on 08/08 (and that high was a 50% retracement from its all-time high)
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Post by theMist on Aug 17, 2017 8:01:09 GMT -5
S&P Futures hitting support and trying to put in bottom candle -- right at lower BBs
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Post by huh on Aug 17, 2017 8:06:59 GMT -5
How long has it been since S&P has had a 3% down day?
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Post by theMist on Aug 17, 2017 8:10:56 GMT -5
How long has it been since S&P has had a 3% down day? It is overdue - just don't think today is the day would have to take a real catalyst to correct this market Trump news yesterday is not that catalyst IMO I'm 30k short VXX at around 12 avg. saving dry powder and if need be I can go to 50k contango is still good
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Post by huh on Aug 17, 2017 8:20:02 GMT -5
I think catalysts appear as they are needed to explain the movements of the market. They're actually always there, but used when needed.
For example, market supposedly pulled back because of the Trump rhetoric about North Korea. But then the market bounced back apparently because of a report that Trump had been already been working with North Korea for some time through private conversations.
But wait a minute, if there had been ongoing private discussions going on for a while already, and Trump was just now publicly bashing North Korea, that would mean the conversations must have fallen apart, yeah? That's not good news. (and if the market had continued dropping, that news would have been interpreted as bad news)
Anyway, I don't believe the market pulled back simply because of Trump's posts about North Korea, or any other news that is publicly known at least. This North Korea stuff has been going on since Clinton, and over the last few years, North Korea has been launching missiles and threats over and over again. But none of that had ever affected the market before. So why now?
Maybe there is a bigger problem concerning North Korea, but if there is, that news hasn't been made public yet IMO.
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Post by theMist on Aug 17, 2017 8:25:53 GMT -5
I think catalysts appear as they are needed to explain the movements of the market. They're actually always there, but used when needed. For example, market supposedly pulled back because of the Trump rhetoric about North Korea. But then the market bounced back apparently because of a report that Trump had been already been working with North Korea for some time through private conversations. But wait a minute, if there had been ongoing private discussions going on for a while already, and Trump was just now publicly bashing North Korea, that would mean the conversations must have fallen apart, yeah? That's not good news. (and if the market had continued dropping, that news would have been interpreted as bad news) Anyway, I don't believe the market pulled back simply because of Trump's posts about North Korea, or any other news that is publicly know at least. This North Korea stuff has been going on since Clinton, and over the last few years, North Korea has been launching missiles and threats over and over again. But none of that had ever affected the market before. So why now? Maybe there is a bigger problem concerning North Korea, but if there is, that news hasn't been made public yet IMO. Well, I think we are definitely living in the time of War and Rumours of War and time of Apostasy. All of this won't matter as we get closer and closer to the Rapture of the Church
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Post by theMist on Aug 17, 2017 8:31:06 GMT -5
45k short VXX VXX 12.07
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Post by theMist on Aug 17, 2017 8:40:58 GMT -5
VXX 11.98 is 10dsma VXX has to get back below it
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Post by Herceg on Aug 17, 2017 8:56:01 GMT -5
How long has it been since S&P has had a 3% down day? I believe I was 12 yrs old...................LOL...............or at least that is what it feels like.............Longest bull mkt. in history........
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Post by theMist on Aug 17, 2017 9:01:49 GMT -5
lol markets sold on Trump tweet
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Post by ipath on Aug 17, 2017 9:05:11 GMT -5
still the support at 2459ish standing.. hope it doesn't get breached
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Post by Herceg on Aug 17, 2017 9:05:16 GMT -5
lol markets sold on Trump tweet Still moving...............eyeing VXX as no shares available on TVIX and UVXY at Scottrade...........
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Post by ipath on Aug 17, 2017 9:08:18 GMT -5
lol markets sold on Trump tweet Still moving...............eyeing VXX as no shares available on TVIX and UVXY at Scottrade........... Really, none available to short?
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Post by Herceg on Aug 17, 2017 9:10:39 GMT -5
Still moving...............eyeing VXX as no shares available on TVIX and UVXY at Scottrade........... Really, none available to short? I got the message to contact them..........so I will settle for VXX if I make a move.....................still have my short on UVXY what seems like forever...............have not added anymore yet.....................
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Post by theMist on Aug 17, 2017 9:17:59 GMT -5
S&P has support in SP2450 area
VIX SCAMs should drop back down
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Post by walnut on Aug 17, 2017 9:25:32 GMT -5
IB has no UVXY
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