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Post by huh on Jan 27, 2017 8:00:18 GMT -5
10 things you need to know before the opening bell The Mexican peso is little changed. The peso fell by as much as 1.3% on Thursday after Mexican President Enrique Peña Nieto canceled a meeting scheduled for next week with President Donald Trump following Trump's insistence that Mexico would pay for a border wall. After falling by another 0.8% to 21.3806 per dollar early Friday, the peso is little changed at 21.2050. Lunar New Year celebrations are underway. Markets in China and across much of Asia will be shuttered over the next week in celebration of the Lunar New Year. The UK won't be able to make trade deals until at least 2019. Speaking with Sky News on Friday, Chancellor Philip Hammond said, "Of course we want to strengthen our trade ties with the very many trade partners we have around the world, but we're very mindful of our obligations under the treaty, and we will follow them precisely." Those comments effectively rule out any trade deals being made until the UK terminates its membership in the European Union, which is expected to occur in March 2019. The British pound is down by 0.4% at 1.2547 against the dollar. Japan's core consumer prices fell at their slowest pace in almost a year. Japan's nationwide core consumer price index, which includes oil but excludes fresh food, fell 0.2% year-over-year in December, making for the smallest drop since February, Reuters reports. The Japanese yen is weaker by 0.4% at 114.98 per dollar. Alphabet's earnings miss. Google's parent company earned an adjusted $9.36 a share, missing the $9.67 that was expected by the Bloomberg consensus. Revenue, however, climbed 22% year-over-year to $26.06 billion, easily beating the Wall Street estimate of $25.2 billion. Microsoft beats on the top and bottom lines. Microsoft earned an adjusted $0.84 a share on revenue of $25.8 billion. Revenue from its Productivity and Business Processes unit, which includes the fast-growing Office 365 cloud productivity suite, jumped 10% versus a year ago to $7.4 billion. Starbucks slashed its 2017 revenue forecast. The coffee giant announced first-quarter results that were mostly in line with Wall Street estimates but said it saw 2017 revenue growth of 8% to 10%, down from its previous estimate of a double-digit rise, Reuters reports. Stock markets around the world trade mixed. Japan's Nikkei (+0.3%) gained in Asia, and France's CAC (-0.5%) trails in Europe. The S&P 500 is set to open little changed near 2,297. Earnings reporting is moderate. American Airlines, Chevron, Colgate-Palmolive, and Honeywell are among the names set to release their quarterly results ahead of the opening bell. US economic data is heavy. Gross domestic product and durable goods will be released at 8:30 a.m. ET, and University of Michigan consumer confidence will cross the wires at 10 a.m. ET. Finally, the Baker Hughes rig count will be announced at 1 p.m. ET. The US 10-year yield is up 1 basis point at 2.51%. www.businessinsider.com/opening-bell-january-27-2017-2017-1
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Post by huh on Jan 27, 2017 8:00:56 GMT -5
10 things in tech you need to know today 1. Google's Q4 profit came up short, and its stock took a hit. After reporting its Q4 earnings, the Californian company's share price was down 2% in after-hours trading. 2. Microsoft beat the street, but its stock went nowhere. The Washington company also reported its quarterly earnings on Thursday. 3. Hundreds of people plan to protest against Mark Zuckerberg's Hawaiian wall. The Facebook CEO is being attacked over his decision to sue hundreds Hawaiians over their land. 4. The former head of Google's self-driving car project has been secretly working on his own startup. Chris Urmson has his own self-driving car company, Aurora Innovation. 5. Two of Cisco's biggest competitors quietly kicked it in the teeth this week. Facebook and VMWare are muscling in on its territory. 6. Microsoft says its attack on Apple's Mac business is working. It claims to be slowly eating into Apple's dominance of the high-end computer market. 7. Google's CEO didn't have a very convincing answer for a potentially huge weakness in its business. Sundar Pichai didn't provide any detail about how Google plans to evolve its ads business into the world of voice-based computing. 8. A load of more details about Samsung's upcoming phone, the Galaxy S8, just leaked. The device will reportedly launch on March 29, and there are purported photos floating around. 9. Marisa Mayer's team at Yahoo might be looking into getting fired by Verizon. Yahoo employees will get a payout if they get terminated post-acquisition. 10. Twitter is signalling that its "bold new experience" to revive growth hasn't worked. The company is removing its "Moments" tab and replacing it with a new tab called "Explore." www.businessinsider.com/10-things-in-tech-you-need-to-know-january-27-2017-1
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Post by huh on Jan 27, 2017 8:01:33 GMT -5
Frontrunning: January 27 Mexico Dispute Could Overshadow May’s Free-Trade Message (BBG) NATO, Russia and trade top the agenda for Trump talks with Britain's May (Reuters) Trump's plan for import tax worsens crisis with Mexico (Reuters) Nafta’s U.S. Impact is Modest (WSJ) Republicans Are Making Little Progress on Their Obamacare Repeal Strategy (BBG) Ghost of 1990s Is Haunting Dollar and Slowing Further Gains (BBG) Trump's hopes for Syria safe zones may force decision on Assad (Reuters) Trump’s Gamble: Luring Countries Into Deals (WSJ) Trump tells Republican lawmakers: Enough talk. Time to deliver (Reuters) UBS Clients Pull $15 Billion in Quarter as Margins Decline (BBG) GDP Growth Is Forecast to Have Slowed to 2.2% in Fourth Quarter (WSJ) Will Trump Make This $7 Billion Clean-Coal Plant Irrelevant? (BBG) Border Wall Tax on Mexican Crude Oil Would Cost U.S. Drivers (BBG) Weak exports may crimp U.S. fourth-quarter economic growth (Reuters) France’s Neighbors Sound Alarm Over Election ‘Catastrophe’ Risk (BBG) Jilting Jefferies Said to Cost Credit Suisse Bankers $10 Million (BBG) Fed to Align Itself With Government Hiring Freeze (WSJ) Challenging the U.S., Moscow Pushes Into Afghanistan (WSJ) Volkswagen’s Ex-CEO Winterkorn Probed on Suspicion of Fraud (WSJ) Toshiba to sell part of chip business, puts overseas nuclear ops under review (Reuters) Turkey threatens to cancel Greece migration deal in soldiers' extradition row (Reuters) www.zerohedge.com/news/2017-01-27/frontrunning-january-27
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Post by huh on Jan 27, 2017 8:14:28 GMT -5
I agree with everything Mist has said about S&P and its futures. Can only add to keep an eye on VIX futures to likely fill its near upside gap ~13.27, which would correlate well with Mist's projected moves.
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Post by huh on Jan 27, 2017 8:17:26 GMT -5
AAPL key support is now ~120
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Post by walnut on Jan 27, 2017 9:01:11 GMT -5
I've changed my mind, I think that a long term VXX short does need to be averaged in. If you did not get to sell as it passed down through 16, there is too much chance that it will return to 16 from 11, too much chance of a temporary large loss. So average in on the first trade and build it up as you can afford it, never exposing to more loss than you can take.
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Post by Herceg on Jan 27, 2017 9:11:07 GMT -5
JNPR, WYNN, SBUX on radar...................JMO and BOL to all.............
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Post by huh on Jan 27, 2017 9:36:16 GMT -5
(Sung with a slight Japanese accent)
♪♫ Doubletop doubletop ♫♪ ♪♫ Oh double double double ♫♪ ♪♫ Doubletop doubletop ♫♪ ♪♫ Oh double double double ♫♪ ♪♫ Doubletop doubletop ♫♪ ♪♫ Oh double double double ♫♪ Doubletop (pop!)
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Post by walnut on Jan 27, 2017 9:43:18 GMT -5
timber.....?
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Post by theMist on Jan 27, 2017 9:56:32 GMT -5
I've changed my mind, I think that a long term VXX short does need to be averaged in. If you did not get to sell as it passed down through 16, there is too much chance that it will return to 16 from 11, too much chance of a temporary large loss. So average in on the first trade and build it up as you can afford it, never exposing to more loss than you can take. Two thumbs up! Good thinking! Risk/reward not in favor of placing short SCAM positions on now for long term. Best to wait until volatility spikes (in this case spot VIX spikes over 16) to add to short positions. Some traders, like I mentioned, even peg the threshold at spot vix 20. Why start out with a loss and get all emotional and possibly make irrational decisions. Long term is what it is LONG TERM and you need to average in extremely slowly. Wait for the spikes, they will come. One thing the market teaches is patience. Plus VXX has got to take out those upside GAPs at some point. And S&P now also has a BREAKAWAY GAP. And now that I typed all of that -- shave another 10% off the VIX SCAMs. lmao
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Post by walnut on Jan 27, 2017 10:05:17 GMT -5
I try to limit my stupid to only a few hours per week.
A VIX 20 strategy would require you to tolerate very large draw downs. That is too much for just about anyone. They will probably not stick with it when that day comes, they will bail.
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Post by walnut on Jan 27, 2017 10:13:18 GMT -5
I'd bought back 3000 VXX this morning at 19.13
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Post by theMist on Jan 27, 2017 10:14:42 GMT -5
I'd bought back 3000 VXX this morning at 19.13 Are you holding any positions now? And you had a small gain? I haven't made one trade yet And honestly, I got lucky yesterday when SCAMs were trying to breakthrough and fill that GAP. Luckily, they turned down and rolled over one more time. Pressing heavy short VXX, TVIX, UVXY positions (40k short TVIX) at these levels is not a great strategy. IMO Got lucky yesterday. I thought they were going to fill that gap and spike higher.
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Post by walnut on Jan 27, 2017 10:22:17 GMT -5
Only 3000 short VXX now. Yes made small gain on the other 3000. I'm thinking this gets close to the SP500 2284 target you guys talked about.
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Post by walnut on Jan 27, 2017 10:39:08 GMT -5
The scams wanting to go down again haha ALMOST nothing stops them
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Post by theMist on Jan 27, 2017 10:40:24 GMT -5
On the other hand, I still believe scalping / daytrading and shorting the mini pops during the day is still a good strategy and I will continue to do so --- BUT I will try to refrain from doubling down or tripling down to average up my short TVIX position like yesterday.
Also, by the time the S&P completes this small H&S pattern, SCAMs will still grind a little lower. S&P sells a little, then hits support, then bounces, then sells a little again, then hits support and bounces. During the entire time SCAMs are flat and drifting lower. It will take some real hard prolonged selling to get the SCAMs to really spike.
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Post by walnut on Jan 27, 2017 10:44:05 GMT -5
Yeah, me too, daytrading the scams is too easy to just quit doing it. As to doubling down when it's going against you.. Cornelius Vanderbilt once said "never give another man the power to ruin you" as he took everything that short seller owned in payment for short that went bad on the Harlem Railroad. On the other hand, I still believe scalping / daytrading and shorting the mini pops during the day is still a good strategy and I will continue to do so --- BUT I will try to refrain from doubling down or tripling down to average up my short TVIX position like yesterday. Also, by the time the S&P completees this small H&S pattern, SCAMs will still grind a little lower. S&P sells a little, then hits support, then bounces, then sells a little again, then hits support and bounces. During the entire time SCAMs are flat and drifting lower. It will take some real hard prolonged selling to get the SCAMs to really spike.
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Post by theMist on Jan 27, 2017 10:46:38 GMT -5
BTW - I emailed Jim this morning to point out a few things he doesn't see on the charts. Basically, what I posted yesterday in S&P thread. Curious to see if he gives feedback.
Do you know that there are some really smart traders who I admire that believe TA is absolutely useless when it comes to charting the SCAMs?! And you can make the argument that TA is useless because they are not supply/demand driven. Really? Then how do explain the large descending channel they have been in for years. Descending channels are made up of support and resistance. Also, how do you explain those GAP fill calls that I have made in the past. Then they argue that these products are double leveraged and skewed because of leverage. Then I simply say, but when I trade the SCAMs I chart S&P, watch VIX futures, and chart VXX (which is unleveraged). Anyway, just my 2 cents. lol
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Post by Herceg on Jan 27, 2017 10:51:31 GMT -5
Very slow grinding day................nothing moving significant enough for me to warrant a trade.............
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Post by theMist on Jan 27, 2017 10:53:08 GMT -5
I think I've given them about 20 chances in the past 3 months to take everything I have. lol But definitely going forward and at these price levels, I absolutely agree . Thx for the advice. Yeah, me too, daytrading the scams is too easy to just quit doing it. As to doubling down when it's going against you.. Cornelius Vanderbilt once said "never give another man the power to ruin you" as he took everything that short seller owned in payment for short that went bad on the Harlem Railroad.
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