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Post by huh on Aug 16, 2017 7:53:33 GMT -5
10 things you need to know before the opening bell NAFTA negotiations kick off. The first round of NAFTA negotiations begin Wednesday, with President Donald Trump, Mexican President Enrique Peña Nieto, and Canadian Prime Minister Justin Trudeau meeting in Washington, DC, until Sunday. The IMF ups its China growth forecast but sounds the alarm on its debt. "The growth outlook has been revised up reflecting strong momentum, a commitment to growth targets, and a recovering global economy," the International Monetary Fund said in its report. "But this comes at the cost of further large and continuous increases in private and public debt, and thus increasing downside risks in the medium term." Euro-area GDP inches up. Preliminary data released Wednesday by Eurostat shows the euro-area economy grew at a 2.2% annualized rate in the second quarter, just ahead of the 2.1% growth experienced in the first quarter. UK unemployment hits its lowest level on record. The unemployment rate in the UK fell to 4.4% in July, the lowest since record keeping began in the 1970s, according to the Office for National Statistics. Wage growth came in at 2.1%, however, below the 2.6% rate of inflation. The euro hits a 7-year high against the pound. The euro-pound cross briefly touched .9141 early Wednesday, making for the strongest the euro has been against the pound, not counting the flash crash, since 2010. The 7th tech-unicorn IPO of 2017 is on the way. MongoDB, a database startup that was valued at $1.6 billion in 2015, has confidentially filed to go public, according to TechCrunch. Fed minutes are coming. The minutes from the July Federal Open Market Committee meeting are set to cross the wires at 2 p.m. ET, with traders on the lookout for hints about when the Fed may begin unwinding its balance sheet and whether low inflation is a worry. Stock markets around the world are higher. Hong Kong's Hang Seng (+0.86%) paced the gains in Asia, and Germany's DAX (+0.84%) is out front in Europe. The S&P 500 is set to open up 0.19% near 2,469. Earnings reporting slows down. Target reports ahead of the opening bell, and L Brands releases its quarterly results after markets close. US economic data flows. Housing starts and building permits are both due out at 8:30 a.m. ET. The US 10-year yield is up 1 basis point at 2.28%. www.businessinsider.com/opening-bell-august-16-2017-2017-8 |
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Post by huh on Aug 16, 2017 7:54:38 GMT -5
10 things in tech you need to know today 1. An Uber engineer secretly texted former chief executive Travis Kalanick about Elon Musk, saying: "We've got to start calling Elon on his s---. I'm not on social media but let's start 'faketesla' and start give physics lessons about stupid s--- Elon says." The texts related to Musk's comments about self-driving cars and emerged during Uber's legal battle with Google's Waymo. 2. More tech firms are refusing service to white supremacists, after the violent march at Charlottesville in the US. PayPal has pulled its payment services from neo-Nazi sites, while WordPress banned the site of a fascist group, according to Fast Company. 3. Amazon has launched a better version of the vending machine with a new service called Amazon Pickup. Customers can order essentials like phone chargers, snacks, and drinks, and pick them up from a physical location within minutes. 4. Uber shareholder Shervin Pishevar has claimed another investor, Benchmark Capital, wants to get rid of advisor Arianna Huffington, who has been the firm's public face since chief executive Travis Kalanick stepped down. In a letter obtained by Axios, Pishevar wrote that Benchmark had made "quite derogatory comments" about Huffington. 5. The British security researcher arrested for allegedly creating the Kronos banking malware, Marcus Hutchins, is back online under his Twitter handle MalwareTech and making jokes about his arrest. Hutchins has pleaded not guilty to the charges, and was originally barred from using the internet. 6. Microsoft bought a cloud computing firm called Cycle Computing to take on Amazon's AWS. The firm lets companies run large-scale computing jobs across multiple clouds. 7. The man in charge of Netflix's content, Ted Sarandos, has bashed Amazon's efforts in film saying: "I frankly don't understand their strategy." He made the comment based on the fact that Amazon sticks to a traditional "windowing" strategy with film, whereas Netflix releases come out at the same time they're in theatres. 8. Bill Gates gave away his biggest wad of money since 2000, with a $1.46 billion (£1.14 billion) donation. A filing revealed the donation, which equates to 5% of his fortune, but not where it will go. 9. Ex-Googler and former chief scientist at Baidu Andrew Ng is raising his own AI fund. Ng is raising $150 million (£117 million), according to PEHub. 10. President Trump launched another attack on Amazon, this time claiming it was "doing great damage" to "tax paying retailers." The firm's stock fell 0.5% in pre-market trading after the tweet. www.businessinsider.com/10-things-in-tech-you-need-to-know-today-august-16-2017-8 |
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Post by theMist on Aug 16, 2017 8:05:34 GMT -5
You guys would be proud of me. I held 38k short VXX overnight as well.
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Post by theMist on Aug 16, 2017 8:08:43 GMT -5
I held overnight because I believe this pattern that is forming is a iH&S pattern Move w/successful backtest above neckline I have drawn confirms the pattern and should put S&P at testing SP 2500  |
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Post by huh on Aug 16, 2017 8:09:00 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
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Post by theMist on Aug 16, 2017 8:11:49 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 Huh, as much as i would have loved for the markets to keep selling hard last week, do you agree regarding the potential pattern I see developing? |
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Post by huh on Aug 16, 2017 8:21:58 GMT -5
IWM does also have another upside gap ~140
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Post by theMist on Aug 16, 2017 8:23:21 GMT -5
You guys would be proud of me. I held 38k short VXX overnight as well. And wishing I had covered in premarket when VXX hit 11.60 range lol should print during regular session |
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Post by huh on Aug 16, 2017 8:24:28 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 Huh, as much as i would have loved for the markets to keep selling hard last week, do you agree regarding the potential pattern I see developing? Yeah, definitely seeing that possibility. Also another potential iH&S forming on that RS. Didn't backtest the shoulder test line in either case, but that's not always necessary. A little concerned about not seeing it in any of the other indices, or even the S&P. This combined with the lack of a shoulder test can often signal that it'll fail to reach the upside target after confirming - and why a pullback from those gap fills I mentioned would be detrimental to the pattern. But again, only a concern if the market pulls back after filling those gaps.  |
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Post by theMist on Aug 16, 2017 8:32:50 GMT -5
VXX is trading between the 10dsma (currently 11.91) and 20dsma (currently 11.53) what a headfake move that was at the open Need VXX to drop down to 20dsma now VXX 11.80  |
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Post by huh on Aug 16, 2017 8:38:14 GMT -5
I don't see much bullish potential for VXX unless it were to rise > 12.12
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Post by theMist on Aug 16, 2017 8:40:33 GMT -5
I don't see much bullish potential for VXX unless it were to rise > 12.12 yeah -- I just don't like the way its trading today VXX is strong when it should be weak |
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Post by ipath on Aug 16, 2017 8:42:20 GMT -5
I really don't like how sensitive the SCAMS are.. going green when snp is green
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Post by theMist on Aug 16, 2017 8:46:43 GMT -5
I really don't like how sensitive the SCAMS are.. going green when snp is green yes - we need that to change with VXX dropping to new lod gotta keep hammering them down lol |
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Post by ipath on Aug 16, 2017 8:47:22 GMT -5
hope they start talking about infrastructure and tax cuts more and less about protests and trumps reaction.. at least for now
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Post by clinton on Aug 16, 2017 9:00:02 GMT -5
what the hell?
my stocks are going up?
that cant be, something must be wrong today.
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Post by theMist on Aug 16, 2017 9:00:19 GMT -5
I think we just need to be little more patient
S&P is forming such a bullish pattern and hasn't even broken out yet
BTW - I believe what's putting pressure on VIX SCAMs is spot vix which bounced and back testing moving avg
spot vix chart is still bearish -- this is just technical stuff on spot vix chart and should go red
I have delayed spot vix quotes - wish I had real time
CNBC just confirmed spot vix is slightly up today (putting some pressure on vix futures) and I believe its because of technicals
IMHO
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Post by Herceg on Aug 16, 2017 9:23:45 GMT -5
At the end of the day we all make predictions and we are all wrong...............LOL.............we may hit one here and there, but we know the mkt. can destroy us all at anytime, hence why we never go all in on any trade because of the "Fear" factor................just my $.02 for today......... |
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Post by theMist on Aug 16, 2017 9:27:13 GMT -5
At the end of the day we all make predictions and we are all wrong...............LOL.............we may hit one here and there, but we know the mkt. can destroy us all at anytime, hence why we never go all in on any trade because of the "Fear" factor................just my $.02 for today......... Herc, I am the king of going ALL IN ON trades (whether long or short) -- maximum leverage lol I'm in contact with local Scottrade office just about every day regarding margin/maintenance calls, fed calls, etc. lmao |
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Post by theMist on Aug 16, 2017 9:30:03 GMT -5
20dsma for VXX is currently at 11.53
good spot to cover short for daytrade/scalp
VXX can still drop below it but may rise up in last hour to close right around it IMO
we'll see...
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