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Post by huh on Oct 4, 2016 7:42:28 GMT -5
10 things you need to know before the opening bell India cut rates. The Reserve Bank of India unexpectedly lowered its repo rate by 25 basis points to 6.25% at Urjit Patel's first policy meeting as governor of the Bank of India. The Indian rupee is weaker by 0.1% at 66.5425 per dollar. The Reserve Bank of Australia kept policy on hold. Australia's central bank left its key interest rate unchanged at 1.50%, as expected, while noting, "Part-time employment has been growing strongly, while growth in full-time employment has been subdued." The Australian dollar is little changed at .7670 against the US dollar. The British pound is the lowest it's been since 1985. Sterling is down 0.7% at 1.2756 versus the dollar despite Britain's construction PMI surging back into expansionary territory with a print of 52.3, well ahead of the 49.0 that economists had been expecting. Goldman Sachs says big-money investors are dumping stocks. The investment bank says mutual funds could be net sellers of stocks for the first time in four years. "Low levels of equity fund cash and significant outflows from mutual funds drive our mutual fund net equity purchases forecast of -$25 billion in 2016," Goldman's chief US equity strategist, David Kostin, wrote in a client note on Friday. Deutsche Bank has surrendered most of its gains. Shares of the investment bank are up 0.6% in Germany after opening to a gain of about 3%. Tuesday's advance comes after German markets were closed Monday for Reunification Day. Salesforce is buying Krux for about $700 million. Salesforce has agreed to pay about $340 million in cash plus stock for Krux, a company that monitors traffic across multiple devices, TechCrunch reports. Manhattan apartment sales tumbled. Sales of existing condos and co-ops sank 20% year-over-year in the third quarter, and the number of apartments listed for sale is up 53% compared with the same quarter in 2013, Bloomberg reports, citing data from Miller Samuel Inc. and Douglas Elliman Real Estate. Stock markets around the world are higher. Japan's Nikkei (+0.8%) was out front in Asia, and Britain's FTSE (+1.6%) leads the way in Europe. S&P 500 futures are up 2.50 points at 2,155.75. Earnings reporting is light. Darden Restaurants reports ahead of the opening bell, and Micron Technology releases its quarterly results after markets close. US economic data trickles out. US crude-oil inventories will be released at 10:30 a.m. ET. The US 10-year yield is little changed at 1.62%. www.businessinsider.com/opening-bell-october-4-2016-2016-10
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Post by huh on Oct 4, 2016 7:43:21 GMT -5
10 things in tech you need to know today 1. People are gaming UberEats to get hundreds of pounds in free food. The company has been giving out vouchers every time it's late with a delivery, no matter how big or small. 2. Facebook users are already selling drugs, animals, and adult services on Facebook's new Craigslist competitor. The feature is replacing the Messenger shortcut in the bottom center of Facebook's app for everyone over the age of 18. 3. A lot of people are complaining about the iPhone 7's battery. The Guardian and consumer-product reviews site Which both claimed the iPhone 7 has a small battery in recent reviews. 4. Facebook is reportedly planning to build a huge new data center in Denmark. It's said to be bigger than Facebook's Swedish data center, which cost the company $450 million. 5. Apple CEO Tim Cook has robustly defended his company's strident approach to security. During a new on-stage Q&A, he declared: "Encryption is inherently great." 6. Microsoft has killed its fitness bracelet. ZDNet reports that Microsoft has removed all of the Band fitness trackers from its online store, as well as the Band’s software development kit. 7. Salesforce has acquired marketing data software company Krux for $700 million, according to the Wall Street Journal. The enterprise cloud software firm has spent over $4 billion on acquisitions in the last year. 8. Facebook is launching a slimmed down version of its popular Messenger app for people with Android smartphones in emerging markets. The app, known as Messenger Lite, will only have basic chat features. 9. Tech billionaires are asking scientists for help breaking humans out of the computer simulation they think they might be trapped in. That's according to Sam Altman, the president of the Y Combinator startup accelerator. 10. A phone retailer in the UK appears to have leaked everything about Google's new Pixel phones. The since removed listing from Carphone Warehouse appears to have provided the most complete look at the devices yet. www.businessinsider.com/10-things-in-tech-you-need-to-know-today-october-4-2016-10
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Post by huh on Oct 4, 2016 7:44:04 GMT -5
Frontrunning: October 4 WikiLeaks' Assange signals release of documents before U.S. election (Reuters) Kaine and Pence Look to Assure (and Attack) at Vice-Presidential Debate (BBG) Pound tumbles to 31-year low, Deutsche Bank bounces (Reuters) Trump Digs In Over Tax Disclosure (WSJ) Oil eases as Iran, Libya output rises hit OPEC deal momentum (Reuters) Hurricane Matthew slams into western Haiti with deadly waves (Reuters) The Supreme Court Will Hear Its First Insider-Trading Case in 20 Years (BBG) Global Inflation Falls to Seven-Year Low (WSJ) Boeing’s Unique Accounting Method Helps Improve Profit Picture (WSJ) Manhattan Apartment Sales Plunge 20% as Homebuyers Get Pickier (BBG) Coming Soon to Chinese Movie Theaters: Mergers and Acquisitions (WSJ) Science of 'exotic' states of matter lands Nobel physics prize (Reuters) Italy Markets Debut 50-Year Bond (WSJ) Existential Threat to World Order Confronts Elite at IMF Meeting (BBG) JPMorgan prepares to pull Chase ATMs from Walgreens stores (Reuters) Iran Prepares for an Uptick in Tourism (WSJ) Google expected to unveil new phones at San Francisco event (Reuters) www.zerohedge.com/news/2016-10-04/frontrunning-october-4
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Post by walnut on Oct 4, 2016 8:05:08 GMT -5
"Goldman Sachs says big-money investors are dumping stocks. The investment bank says mutual funds could be net sellers of stocks for the first time in four years. "Low levels of equity fund cash and significant outflows from mutual funds drive our mutual fund net equity purchases forecast of -$25 billion in 2016," Goldman's chief US equity strategist, David Kostin, wrote in a client note on Friday."
That does not sound like that much, and 2016 is mostly over anyway, not sure what they are saying. I guess it corresponds with this market "breather".
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Post by Herceg on Oct 4, 2016 8:28:46 GMT -5
JNUG and NUGT very tempting but will wait for things to settle down........
JMO and BOL
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Post by huh on Oct 4, 2016 8:34:50 GMT -5
"Goldman Sachs says big-money investors are dumping stocks. The investment bank says mutual funds could be net sellers of stocks for the first time in four years. "Low levels of equity fund cash and significant outflows from mutual funds drive our mutual fund net equity purchases forecast of -$25 billion in 2016," Goldman's chief US equity strategist, David Kostin, wrote in a client note on Friday." That does not sound like that much, and 2016 is mostly over anyway, not sure what they are saying. I guess it corresponds with this market "breather". If many will be forced to have their retirement funds invested in gov't bonds instead of equities, then it's no wonder mutual funds will be net sellers of equities. I did some research on that yesterday and that family member I spoke of is not the only one seeing this change to their retirement funds. This change happened for many Fed employees years ago already. All these years I figured the market would simply pullback hard and that alone would persuade many into gov bonds. And I speculated this because of the large drop in demand for US bonds from foreign investors. The gov has to find buyers to pick up this difference. But apparently the gov't isn't willing to leave anything to chance. Combine this mutual fund equity outflow to the SEC eliminating leverage, and equities could really take a hit IMO.
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Post by Herceg on Oct 4, 2016 8:41:04 GMT -5
JNUG and NUGT very tempting but will wait for things to settle down........ JMO and BOL small starter at 13.86..........gold will not stay down forever...............I hope.............lol
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Post by huh on Oct 4, 2016 8:47:55 GMT -5
JNUG and NUGT very tempting but will wait for things to settle down........ JMO and BOL small starter at 13.86..........gold will not stay down forever...............I hope.............lol I think you're early. But I've been expecting GDX to make a run for ~32 as a head test of a large H&S. However, difficult to say when that might start. It wouldn't confirm until GDX is >25.50. Gold could have some support ~1279.50 - that's the last FIB from the 06/23 low. That alone is hard to play long against, but at least you know if that doesn't hold, it'll likely go back at least to those lows (~1250's)
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Post by walnut on Oct 4, 2016 8:48:28 GMT -5
SEC eliminating leverage
Is this still on the table?
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Post by huh on Oct 4, 2016 8:50:20 GMT -5
There is another support to watch - GDX ~24.30. That's it's final FIB from the 06/23 low. I'd be surprised if it didn't bounce hard from the 24.00-24.32 area.
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Post by huh on Oct 4, 2016 8:51:48 GMT -5
SEC eliminating leverage Is this still on the table? Yes. The announcement was made more than a year ago now and they've made no update on the decision. The only news I can find is where companies like Direxion have made appeals - which stands to reason since they stand to lose the most. The majority of their leveraged ETFs are 3x's ETFs, which would take the biggest hit under the proposal.
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Post by walnut on Oct 4, 2016 8:55:14 GMT -5
JNUG and NUGT very tempting but will wait for things to settle down........ JMO and BOL small starter at 13.86..........gold will not stay down forever...............I hope.............lol Man I hope this works out for you
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Post by huh on Oct 4, 2016 9:01:38 GMT -5
Can you feel it? Big move coming.
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Post by clinton on Oct 4, 2016 9:09:06 GMT -5
half block of GORO at 6.41
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Post by jacksrbtr on Oct 4, 2016 9:10:30 GMT -5
JNUG and NUGT very tempting but will wait for things to settle down........ JMO and BOL small starter at 13.86..........gold will not stay down forever...............I hope.............lol Yuh - I'm licking my unrealized imaginary wounds.
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Post by dino on Oct 4, 2016 9:10:57 GMT -5
FYI - I see a descending triangle on gold futures playing out. Target ~1243 which is another 40 or so points from here...
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Post by clinton on Oct 4, 2016 9:12:21 GMT -5
GORO down 12.5% might as well be a 3X leverged
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Post by clinton on Oct 4, 2016 9:14:09 GMT -5
GORO just hit 200ma on hourly
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Post by clinton on Oct 4, 2016 9:15:50 GMT -5
will add at 6.12
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Post by huh on Oct 4, 2016 9:16:42 GMT -5
FYI - I see a descending triangle on gold futures playing out. Target ~1243 which is another 40 or so points from here... Ooh, yeah, I see that potential now. Good eyes. FIB support still ~1279.50, but if it loses that, Dino's definitely right
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