Stock Market Today: September 12th - 16th

Discussion in 'Stock Market Today' started by Stockaholic, Sep 9, 2016.

  1. MaximusAnalysis

    MaximusAnalysis Active Member

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    #ES_F $ES_F #SPY levels 2139.50 / / 2128 // 2116.50
    #CL_F $CL_F #Crudeoil levels 44.78 // 43.95 // 43.11
     
  2. Stockaholic

    Stockaholic Content Manager

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    Good morning Stockaholics!

    Good morning Stockaholics! Happy Thursday! :)

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    Frontrunning: September 15
    • Global stocks struggle for footing after bond slip (Reuters)
    • Mobileye says Tesla was 'pushing the envelope in terms of safety' (Reuters)
    • Donald Trump is a problem for the whole world, EU's Schulz says (Reuters)
    • Stuck on Ship, One Gloomy Hanjin Crew Waits to Learn Its Fate (WSJ)
    • U.K. Approves EDF’s £18 Billion Hinkley Point Nuclear Project (BBG)
    • Apple says initial quantities of iPhone 7 Plus sold out (Reuters)
    • Bank of England Flags Further Rate Cut as It Stands Pat (WSJ)
    • SNB Keeps Rates on Hold as Brexit Fallout Clouds Outlook (BBG)
    • Today’s Bond Market: Wrongly Priced for 30 Years of Wretched Existence (WSJ)
    • The Bond Market Is Flashing a Signal That Traders Haven’t Seen Since 2012 (BBG)
    • How Did G.M. Create Tesla’s Dream Car First? (NYT)
    • How Samsung Botched Its Galaxy Note 7 Recall (WSJ)
    • Saudi prince warns Iran against using force to pursue rivalry (Reuters)
    • Fiscal Policy Makes a Quiet Turn Toward Stimulus (WSJ)
    • Oil Glut Set to Worsen as Nigeria and Libya Fields Restart (BBG)

    STOCK FUTURES NOW:
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    YESTERDAY'S MARKET HEAT MAP:
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    TODAY'S ECONOMIC CALENDAR:
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    MOST ACTIVE TRENDING PRE-MARKET DISCUSSIONS (SYMBOLS ARE CLICKABLE!):

    TODAY'S EARNINGS CALENDAR:

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    THIS MORNING'S PRE-MARKET NEWS MOVERS: AAPL, UTX, SNE, MC, WYNN, BA, PFE, OZM, PSX, DKS...

    source: cnbc.com

    • Apple — Apple remains a stock to watch today, after leading the Dow Jones industrial average the past two days and hitting a nine-month high amid upbeat sales for its iPhone 7 and iPhone 7 Plus. Additionally, the company said the initial run of the iPhone 7 Plus has sold out globally.

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    • United Technologies — Chief Executive Officer Gregory Hayes has added the chairman's title, effective immediately. Edward Kangas, who had been non-executive chairman, will now serve as independent lead director.

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    • Sony — Sony has no plans to market a smartphone-based headset, according to the head of its gaming division, who told Reuters the company is focusing on expanding content for its dedicated virtual reality headset into non-gaming areas.

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    • McDonald's — McDonald's has received at least three final bids for its China and Hong Kong outlets, according to Reuters, with offers worth up to $3 billion.

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    • Wynn Resorts — Wynn is poised to add to its 20 percent September gain in today's trading, on continuing indications of a recovery in the Macau gambling market.

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    • Boeing — Boeing is cutting down on paid overtime for its 80,000 salaried workers based in the United States. The jet maker is trying to cut costs to deal with increasing competition.

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    • Pfizer — Two federal advisory panels recommended removing the so-called "Black Box" warnings from Pfizer's smoking cessation pill Chantix. Currently, users are warned of side effects such as suicidal thoughts.

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    • Och-Ziff Capital Management — The asset manager saw a judge throw out the certification of a class action suit against the company, only hours after the initial action. The move comes after the judge was advised that the company had not had a chance to object to the ruling. Och-Ziff had been accused of misleading shareholders about probes into its African investments.

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    • Mobileye — Mobileye chairman Amnon Shashua told Reuters in an interview that the automotive technology company broke ties withTeslabecause the automaker was "pushing the envelope in terms of safety" in developing its autopilot system.

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    • Phillips 66 — Berkshire Hathaway added more than one million shares to its stake in the energy company, according to a Securities and Exchange Commission filing, increasing its stake in the company to 15.4 percent.

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    • Dick's Sporting Goods — Oppenheimer upgraded the sporting goods retailer to "outperform" from "perform," saying Dick's can capitalize on "freed-up market share" following the bankruptcy of Sports Authority, Sports Chalet, and Golfsmith.

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    • Symantec — The maker of cyber security software was rated "buy" in new coverage at Guggenheim, which points to the company's acquisition of Blue Coat Systems as a deal which could reignite growth for years to come.

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    • Global Payments — Goldman Sachs upgraded the payment technology services company to "buy" from "neutral" on a variety of factors that point to strong revenue growth.

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    • AMC Networks — Stifel Nicolaus downgraded the cable network operator to "hold" from "buy," noting a "material weakness" in ratings and that it expects that trend to continue.

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    • Harley-Davidson — UBS cut its fiscal 2016 and 2017 earnings estimates for the motorcycle maker, saying its analysis of inventory levels suggests there is downside risk to the company's forward guidance.

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    Good trading day to everyone in here on this Thursday! ;)
     
  3. MaximusAnalysis

    MaximusAnalysis Active Member

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    Early and they need to again hold this 2116.50 or we got 2105. Test of that again and they take out stops and head lower....

    Currencies look messy this morning & Metals
     
  4. Ken34

    Ken34 2017 Stock Picking Contest Winner

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    SGY was halted recently, just resumed trading, up 6%
     
  5. bigbull

    bigbull Active Member

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    There are a few names that are beginning to look attractive but barely budge on upticks. I regard it as a sign of a market that is still in a distribution phase and in no hurry to make new highs. Selling deep ITM puts is still the optimal way of approaching a market that is offering little incentive to go long or short.

    Discount retailers still look like a sell. Conglomerate pharma is a sector that is beginning to look attractive.

    12-month LIBOR remains elevated. Another sign of a market that is no hurry to make new highs. But the elevated price is more likely a function of the swap in money market funds than an actual display of inter-bank and market risk. If LIBOR remains elevated after October, then it may hinting at something more sinister.

    $210 - $216 SPY is the new range, for now.

     
  6. Frankenstein

    Frankenstein Well-Known Member

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    A similar range bound behavior a la Tuesday and Wednesday thus far. Options buying, especially DOT is not effective in such range bound environments. The SPX is at 2133 at 7:48 a.m. on Thursday. I continue to be in Lot 1 and Lot 2 long equity positions purchased at around 2133 and 2123. As mentioned before, I am swing trading these positions and not intra day trading. From that standpoint, I believe anything non above 2130 is a buy zone.
     
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  7. Revan

    Revan Member

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    Nothing like an double shot of disappointing economic reports to give some lift to this market.
     
  8. Revan

    Revan Member

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    Another bounce off 2120 for the SP500. It's not hard to make money in this market, just throw out all preconceived notions of economics and fundamentals, think like a trading algorithm, ride the price action, remember bad is good, and everything is about the FED.

    Don't get me wrong, I like making money, but in this market it just feels a little dirty. Like cashing in on a rigged game at the casino when you know the fix is in.
     
  9. anotherdevilsadvocate

    anotherdevilsadvocate Well-Known Member

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    The way this market reacts to rate hike news makes me wonder if we even raise once this year. I wonder if my favorite part is when pundits come out and try to say the market is underestimating the odds of a hike, because sometimes to me it's like they're begging the market to give them a chance to hike.

    Looks like we're staying in this range for now, solid plays at the endpoints.

    It's a dirty game and nobody's willing to clean it
     
    #89 anotherdevilsadvocate, Sep 15, 2016
    Last edited: Sep 15, 2016
  10. Frankenstein

    Frankenstein Well-Known Member

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    The TRIN is at .54. Lots of buying intra day. The SPX is at 2143 at 9:24 a.m. PST--after it had collapsed to 2122 this morning

    Edit:
    1. 9:36 a.m.SPX at 2139. Re tracing intra day after that 20+ handle rally.but after today's price action, as long as the price continues to be above 2119, an uptrend is basically created for the week--although in a broader time frame, the price is basically range bound between 2120 and 2170 according to my theory. From this frame of 2120 to 2170, buying at anything between 2120 and 2130 is meaningful.
    2. Something else to consider is that everything continues for the last three days to be virtually within the Monday's bar--Tuesday, yesterday and today thus far are inside bars
    3. It seems that the market seems to be pricing in a rake hike. If that is correct, this means that A. if the FED decides to raise the rate, the SPX can rally because it has been priced it or B. if the FED next week decides to not raise the rate, the SPX can rally because the anticipated hike did not happen. The logical conclusion is that whatever the case, the SPX is likely to rally and test the ATH once again
    4. Whatever the case, the inside bar situation, etc. all indicate we are basically range bound at differen levels--and so the price is likely to just bounce around in erratic ways. That makes buying options more difficult
    5. 11:37 a.m. PST, R. The SPX is at 2149 and hit 2151. This level, according to my theory, is a resistance level. I, therefore, exited Lots 1 and 2, which I entered at 2133 and 2123 respectively, at 2147 for profit taking and risk management. It could continue to rally but the risk-reward ratio is not as interesting to me at this level and the current price action
    6.. It is 1:28 p.m. PST. The SPX closed today at 2147, the level I exited all positions today. Unless it collapses to test that 2120 level, I won't be interested in an equity re entry at this point. I may, however, think about options trading for tomorrow, whether the price goes up or collapses tomorrow.
     
    #90 Frankenstein, Sep 15, 2016
    Last edited: Sep 15, 2016
  11. Baggi

    Baggi Active Member

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    Anyone?
     
  12. Revan

    Revan Member

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    The market has not priced in a rate hike. If the FED were to raise rates next week, at these lofty valuations, the market would be caught completely off gaurd.

    Now that is a big if and I would not personally go short on the hope the FED will finally start raising rates again.

    Make no mistake, the last eight years has been built on a foundation of easy money. When that foundation is taken away I would not want to be long stocks.
     
  13. Rock Sexton

    Rock Sexton Meat Popsicle

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    All that panic and yet here we are again. Will people ever learn? LOL
     
  14. MaximusAnalysis

    MaximusAnalysis Active Member

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    Today's Market Thoughts

     
  15. Stockaholic

    Stockaholic Content Manager

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    haha pretty much @Rock Sexton ... although i don't know if i would call it 'panic' all to much this go around ... certainly nothing compared to the Chinese yuan devaluation panic of last year, or the BREXIT panic of this year ... but you're soooooo right on Rock ... it's been pretty much the same old song and dance being played here ... rinse and repeat man lol ... will people ever learn? probably not (and admittedly as much as i hate to say this, sadly i've been sort of guilty of this myself at times as well ... fml lol) but no matter what people may think or say about this market ... whether they believe it's all fed induced this, or market manipulation that (not that i completely disagree with the thinking) but that doesn't do anyone any good in trading! ... people (not saying anyone here in particular on stockaholics of course!) need to really put all of that fruitless thinking/analyzing and always trying to interpret what it all means aside ... until this changes (which it certainly doesn't look like anytime soon yet) why fight it? makes no sense to me

    i don't want to make too much of a big deal about one particular major index ... because i don't know how much of this move in this index was related to the fruit (aapl) but have you seen that nasdaq? yowza ... we're not even 0.50% away from ATHs there (0.41% to exact as of today's close) it's just been absolute beast mode off of this little pullback low...

    i think this chart really puts this whole selloff in perspective a bit ... i guess people may have thought this felt a bit panicky because of just how tight of a range we were trading on the indices for about 2 months before last week happened ... but in the big picture it wasn't really all that noteworthy imo ... and as you said we're right here yet again lol

    [​IMG]
     
    #95 Stockaholic, Sep 15, 2016
    Last edited: Sep 15, 2016
  16. Stockaholic

    Stockaholic Content Manager

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    btw @Rock Sexton nice to see you on the weekly thread (finally) ... been like forever though lol ... hope all is well in your hood man
     
  17. Ken34

    Ken34 2017 Stock Picking Contest Winner

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    i know everyone has been looking for a 08 crash to come, but is it possible that the market will continue to be buy the dip as long as rates remain low? isnt this uncharted territory of leaving rates near 0? so in a sense if the fed never starts normalizing normally, can this market stay propped up indefinitely until they do?
     
  18. MaximusAnalysis

    MaximusAnalysis Active Member

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    #ES_F $ES_F #SPY levels to watch 2139.50 // 2128 // 2116.50
    #CL_F $CL_F #Crudeoil levels to watch 43.95 // 43.12 // 42.30
     
  19. Tiptopptrader

    Tiptopptrader Well-Known Member

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  20. MaximusAnalysis

    MaximusAnalysis Active Member

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    #Gold levels to watch 1323.6 // 1314.5 // 1305
     

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