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Post by huh on May 12, 2017 6:50:20 GMT -5
10 things you need to know before the opening bell China's bank lending heats up. Chinese banks handed out 1.1 trillion yuan ($159.4 billion) in net new loans in April, up from 1.02 trillion yuan in March, data released Friday by the People's Bank of China showed. Hong Kong's GDP crushes expectations. Hong Kong's economy grew at a 4.3% year-over-year clip in the first quarter, easily beating the 3.7% growth that economists surveyed by Bloomberg were expecting. Australia's banks had a brutal week. Australia's four major banks lost a combined $16.5 billion in market cap over the past week as they emerged as the biggest losers from the federal budget. Bitcoin has gained in 18 of the past 20 sessions. The cryptocurrency has soared 55% during its run. It holds little changed near $1,820 a coin Friday as traders await the US Securities and Exchange Commission ruling on whether the SEC will reverse its decision to reject the Winklevoss twins' exchange-traded fund. Sprint and T-Mobile are talking about a merger. The talks among Softbank, Sprint's largest shareholder, Sprint, and T-Mobile owner Deutsche Telekom come after consolidation in the industry was shelved for over a year until the conclusion of the April 27 government spectrum auction, Bloomberg says. Nordstrom's same-store sales miss. The high-end department store said comparable sales slipped 0.8% versus a year ago, missing the flat reading Wall Street was anticipating. Emirates says it's getting crushed by Trump's travel restrictions. The airline said profit plunged by 82% and called President Donald Trump's travel restrictions "destabilizing," Reuters says. Stock markets around the world are mixed. China's Shanghai Composite (+0.7%) led the gains in Asia, and Britain's FTSE (+0.2%) paces the advance in Europe. The S&P 500 is on track to open down 0.4% near 2,386. Earnings reporting is light. JCPenney reports ahead of the opening bell. US economic data flows. CPI and retail sales will be released at 8:30 a.m. ET before University of Michigan consumer confidence crosses the wires at 10 a.m. ET. The US 10-year yield is down by 2 basis points at 2.37%. www.businessinsider.com/opening-bell-may-12-2017-2017-5 |
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Post by huh on May 12, 2017 6:51:12 GMT -5
10 things in tech you need to know today 1. A judge denied Uber's bid to avoid a trial with Waymo — and referred Uber's case for a possible criminal investigation. Google's self-driving car unit accuses Uber of stealing its tech. 2. The banks that were in charge of Snap's IPO love it — even after the company's disastrous earnings report. Goldman Sachs and Morgan Stanley are maintaining their buy ratings. 3. Apple will reportedly unveil Amazon Video for Apple TV next month. It may be announced on June 5, at Apple's WWDC conference. 4. Linux is coming to Microsoft's app store. Ubuntu, Suse, and Fedora are being added. 5. Magic Leap says it is opening up its secret glasses to developers this year. The augmented reality tech company has taken huge amounts of funding, but is highly secretive. 6. US President Trump has signed an executive order aimed at upgrading government cyber defences, Reuters reports. It builds on efforts undertaken by the Obama administration. 7. UK startup Improbable has raised a huge $500 million (£388 million) funding round, Bloomberg reports. Softbank leads the investment into the simulation tech business. 8. With a new controller, Microsoft has taken a big shot at Facebook and Sony in the race for cheap virtual reality. It is teaming up with Acer to create a $399 (£310) virtual reality bundle. 9. A study suggests the Apple watch can accurately predict heart problems. According to The Next Web, the wearable device detected atrial fibrillation with 97% accuracy. 10. Apple invested $200 million in a company that helped make the first iPhone. Apple's Advanced Manufacturing Fund has invested in Corning. www.businessinsider.com/10-things-in-tech-you-need-to-know-may-12-2017-5 |
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Post by huh on May 12, 2017 7:02:38 GMT -5
Frontrunning: May 12 World stocks ease off record highs, Fed rate hopes boost dollar (Reuters) Trump Escalates FBI Fight With Comey Attack. The FBI Fights Back (BBG) Trump attacks on fired FBI chief meet resistance (Reuters) China Stocks Are Tumbling Again. This Time, the World Doesn’t Care (BBG) Yuan Becomes Oasis of Calm in China’s Volatile Markets (WSJ) U.S., China agree to first trade steps under 100-day plan (Reuters) Home Capital Says Reputational Hit Casts Doubt on Survival (BBG) Indonesian Islamist leader says ethnic Chinese wealth is next target (Reuters): It Just Got Harder to Move Staff to Frankfurt After Brexit (BBG) U.S. airlines meet with Homeland Security on expanding laptop ban (Reuters) Attorney General Revives Policy of Tougher Sentences for Drug Offenders (WSJ) Mexican Billionaire's 168% Stock Surge Stokes Derivatives Debate (BBG) Whole Foods Faces Specter of Long Investor Fight (WSJ) At G7, world finance chiefs are trying to gauge Trump's plans (Reuters) SEC Turns to Big Deals Lawyer to Spur More Public Companies (WSJ) U.S. judge calls for criminal probe into trade secrets theft raised in Uber case (Reuters) Talk About Big-Box Retailing: Amazon Pushes to Sell Furniture (WSJ) Tillerson gives nod at Arctic meet to climate change action (Reuters) Refugee Agencies in U.S. Face Funding Crunch (WSJ) Trucking Industry’s Tale of Woe: Too Many Big Rigs (WSJ) www.zerohedge.com/news/2017-05-12/frontrunning-may-12 |
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Post by huh on May 12, 2017 7:11:13 GMT -5
That moved fast. IWM failed that FIB support while I was posting the chart. The shoulder test line is the support to watch though And that shoulder test line is where IWM bounced yesterday.  IWM is defintiely one to keep an eye on. I think it'll eventually lose that support, and falling back into its H&S would be an ominous sign for the major indices especially considering what XLF has done with its potential H&S:  |
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Post by huh on May 12, 2017 7:18:34 GMT -5
Another chart I'm watching, Nikkei futures, since it normally runs hand in hand with our futures. Potential H&S, though small, but that % size move in ES would get Mist his S&P 2260's (lower 2260's)  |
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Post by huh on May 12, 2017 7:37:37 GMT -5
Here's a couple names I see some upside for yet. Could be decent plays, especially if they get a little backtesting pullback here (and would make good hedges for a short bog-box retailers position): BABA  DDD  |
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Post by theMist on May 12, 2017 7:45:56 GMT -5
VXX 15 min premarket chartOnly got 8k short shares VXX at 14.25 Have cleaning people here this morning - too many interruptions lol 
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Post by clinton on May 12, 2017 8:09:53 GMT -5
Ill be buying the dip on JCP when it opens. This earnings was actually pretty good. IMO
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Post by clinton on May 12, 2017 8:10:26 GMT -5
Adjusted net income improved $116 million, or $0.38 per share, to $0.06 per share for the first quarter this year compared to a net loss of $97 million, or ($0.32) per share, last year.
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Post by clinton on May 12, 2017 8:16:32 GMT -5
$JCP ended the quarter with a liquidity position of approximately $2.4 billion.
they paid down 220M in debt
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Post by theMist on May 12, 2017 8:22:20 GMT -5
S&P Hourly Chart
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Post by huh on May 12, 2017 8:28:02 GMT -5
The problem I see with big box retailers is that they are closing stores at a near record rate - JCP is currently closing >10% of their stores - and although this should help with the cash bleeding, their revenues will be falling as well. It's like mortgaging your properties in Monopoly - it's only a matter of time for the inevitable end once that death spiral begins, no matter how many times you pass go. It may not be the end for JCP, but it'll take time yet to stop the bleeding, and then even more time for the positive net cash gain from store closings and revenue losses builds their coffers back up.
And then, once they have the cash, they have to figure out how to turn it into new revenue streams and/or profits.
There may be a turn around story there, but I doubt this pps will see the gains from that this year at least. (and considering the rate at which online sales are taking share from brick and mortar, well, that'll only add to the time needed to turn around, if it happens at all)
JMHO
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Post by theMist on May 12, 2017 8:35:03 GMT -5
covered 8k VXX at 18.16
small profit
too many interruptions
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Post by huh on May 12, 2017 8:37:15 GMT -5
The steps JCP is taking now they should have been taking 10 years ago. No foresight. Economies change, and so should biz models. Titanic was a good example of what happens when things are too large to turn quickly enough
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Post by clinton on May 12, 2017 8:40:38 GMT -5
The steps JCP is taking now they should have been taking 10 years ago. No foresight. Economies change, and so should biz models. Titanic was a good example of what happens when things are too large to turn quickly enough but they are ahead of the game vs many other retailers OK i just bavcked the truck up on JCP hehe hope I dont regret this |
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Post by huh on May 12, 2017 8:45:08 GMT -5
The steps JCP is taking now they should have been taking 10 years ago. No foresight. Economies change, and so should biz models. Titanic was a good example of what happens when things are too large to turn quickly enough but they are ahead of the game vs many other retailers OK i just bavcked the truck up on JCP hehe hope I dont regret this I'd think retailers could bounce big when SHLD tests the 8.90's. (If not, then they're worst then I feared even in the near term) |
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Post by walnut on May 12, 2017 9:01:20 GMT -5
VXX hourly indicators somewhat bearish FWIW
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Post by theMist on May 12, 2017 9:15:25 GMT -5
Another boring day so far
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Post by theMist on May 12, 2017 9:30:35 GMT -5
VXX 15 min indicators look like they want to roll bullish
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Post by theMist on May 12, 2017 9:34:23 GMT -5
S&P Daily ChartS&P looks like it wants to tag blue 20dsma and that would be around 2379ish and possibly back test that double bottom pivot at 2378.36 Gotta watch to see if indicators roll bearish today, Monday This also can be the start of the move that takes S&P down to 2360ish area for common gap fill and back test of neckline of iH&S 
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