I dont have any notions that I am able to ever call a top in anything. However, if 2250.25 is the top, that would be hilarious. I'm never able to call anything. Especially a top in the market. Anyway, it's not going to be the top. But I'm hoping somewhere near here is the top. We need capitulation.
I guess it is not a bad idea to buy some VIX when it was in the 11s like it was earlier today for some protection if you have a lot of long positions, the VIX seems to bottom around 11s all the time
Oh the VIX is up? No wonder the Dow is only up 90 points then Good point about buying protection...especially for bank-stock investors that don't want to sell in December.
I'd feel better if the SPX was higher. It's top is around 2260. Then again, Nasdaq is a ways from its top. What will happen now? I'm hoping we are very close to the top.
spx could go to 2300 by year end, if the theory of people holding off to sell big and wait for trump's possible reduced taxes next year, we shall see though.
Right now I would say we will see the Dow above of 20K before any big pullback, the big boys will make sure that the Dow at 20K is gonna happen Anyway the market is now well off the highs of the day now
About a month ago I bought some iwm puts. They are almost worthless now. Getting killed. So I sold some naked IWM calls today to make up for it. If nothing else, I'm stubborn. Even though everyone knows these markets are going higher due to tax reasons. Ugh.
Good Friday morning Stockaholics! Here are your pre-market movers & news on this Friday morning: Spoiler: 12/9 Friday's Stock News Movers: LVS, MGM, WYNN, RH, AFL, BIIB, MTN, DLTH, AVGO, T, MMM, MON, WFC 12/9 Friday's Stock News Movers: LVS, MGM, WYNN, RH, AFL, BIIB, MTN, DLTH, AVGO, T, MMM, MON, WFCGood day Stockaholics! Happy Friday! Frontrunning: December 9 Futures rise as 'Trump rally' rolls on (Reuters), Oil Advances as European Stocks Extend Gains; Korean Won Slides (BBG) Syrian government forces press attack in east Aleppo (Reuters) Trump: China Will Have to ‘Play by the Rules’ (BBG) Trump’s Cabinet Picks Signal Coming Deregulation Moves (WSJ) Russia’s Military Buildup on the Baltic to Test Trump on NATO (WSJ) OPEC’s Historic Deal Won’t Be Enough to Drain Oil Stockpiles (BBG) OPEC Deal Faces Test as Cartel Seeks Russia Commitment (WSJ) Dutch court convicts anti-Islam politician Wilders of inciting discrimination (Reuters) Korea’s Park Impeached as Protesters Vent Anger Over Corruption (BBG) In Trump stronghold, jobs aplenty, but paychecks thin (Reuters) Trump Team Looks for Ways to Keep Nuclear Power Alive (BBG) Europe’s Next Big Currency Opportunity Just Got a Lot Closer (BBG) U.S. defense chief reassures Afghans amid questions over Trump's policies (Reuters) China Faces Off Against World on Open Global Markets (WSJ) Turkish jets hit Islamic State targets in Syria (Reuters) Democrats plot uphill fight against some Trump nominations (Reuters) China Car Sales Rise 20% as Buyers Rush to Beat Expiring Tax Cut (BBG) Euro zone bailout fund not preparing Italy aid: Regling (Reuters) ECB's QE powers limited as banks fail to transmit cheap credit: Rimsevics (Reuters) STOCK FUTURES NOW: YESTERDAY'S MARKET HEAT MAP: YESTERDAY'S S&P SECTORS: TODAY'S ECONOMIC CALENDAR: MOST ACTIVE TRENDING PRE-MARKET DISCUSSIONS (TICKER SYMBOLS ARE CLICKABLE!): WYNN LVS XLF FGP RH AVGO FNSR DGAZ MGM UGAZ MPEL JDST SWC QQQ SOXX DLTH AIRG MTN C GDXJ MS AZN NUGT SWKS TODAY'S EARNINGS CALENDAR: THIS MORNING'S PRE-MARKET NEWS MOVERS: source: cnbc.com Las Vegas Sands, MGM Resorts, Wynn Resorts — Shares of casino operators are bouncing back this morning, after Macau officials said they had not shrunk daily cash withdrawal limits for Chinese gamblers. A report in the South China Morning Post had said the amount allowed for withdrawal from automated teller machines would be cut in half. Restoration Hardware — The luxury furnishings retailer reported adjusted quarterly profit of 20 cents per share, four cents above estimates. Revenue also beat forecasts, but the company gave weak current quarter guidance due to promotional activity. Aflac — The disability insurer was cut to "underperform" from "market perform" at RBC, based on RBC's outlook for sluggish sales growth and various earnings headwinds. Biogen — Biogen's experimental Alzheimer's drug was shown to reduce the risk of brain swelling when doses are gradually increased as opposed to using fixed higher doses. Vail Resorts — The resort operator lost $1.70 per share for its latest quarter, 13 cents wider than anticipated, and its revenue also came in below analyst estimates. However, Vail did raise its 2017 resort earnings outlook, and said season pass sales during the quarter were up 16 percent over a year ago. Duluth Holdings — Duluth reported a profit of 1 cent per share, compared to forecasts of a breakeven quarter, but the casual clothing maker saw revenue miss forecasts and it gave weak full-year guidance. Duluth cites unusually warm weather and a highly promotional environment for its cautious forecast. Bristol-Myers Squibb — The drug maker raised its quarterly dividend by 1 cent to 39 cents per share, starting with 2017's first quarter. Broadcom — Broadcom came in 9 cents above estimates with adjusted quarterly profit of $3.47 per share, while the chip maker saw revenue come in slightly above Street forecasts. Broadcom also announced a doubling of its quarterly dividend to $1.02 per share. AT&T — Vice Chairman Ralph de la Vega will retire on December 31 after 42 years at the company. De la Vega was responsible for the company's launch of the first iPhone, which at the time was an exclusive contract for AT&T. Athene — Athene priced its initial public offering at $40 per share, in the middle of the expected $38 to $42 range, raising $1.1 billion. That makes the annuity provider's IPO the second largest of the year, behind ZTO Express, according to Dealogic. 3M — 3M sold its identity management business to Amsterdam-based Gemalto for $850 million. The deal is expected to close in the first half of 2017. Monsanto — The chemical maker was sued by Washington state for damages and cleanup costs related to PCB production. Wells Fargo — The bank reportedly chose four of its directors, including chairman Stephen Sanger and vice chair Elizabeth Duke, for a panel that will lead an investigation into the recent sales practices scandal. Reuters reports the other two members are directors Enrique Hernandez and Donald James, and that all four are independent directors. Lions Gate — The movie studio closed its acquisition of cable network operator Starz for $4.4 billion in cash and stock. Have a good trading day to everyone in here on this Friday!
we may need to get those 20K hats ready soon lol ... we're now less than 300 pts (or another +1.50%) away from the big milestone if the dj30 can cross 20K in the next 10 trading days, it would be the fastest to the 1K level break in history the record is 24 tradings days in 1999 from 10K to 11K
Pretty impressive if we break that record for fastest 1K gains for the Dow I think the odds are pretty good for the Dow to reach 20K before end of this year if we don't get a surprise from the FED next week
The things that have been strong like the banks and transports are taking a pause today. Healthcare and consumer staples haven't performed very well lately but they are doing well today
Here we are, now making new all time highs on the E Mini futures. I really need to go short here. I hate that I can't bring myself to pull the trigger.
almost hit 2260 on the cash s&p yesterday was rollover for the /es so we had about a 5 handle discount to the dec. contract ... but we even took out that high on the continuous contract just now lol ... amazing seems like baring some crazy unexpected black swan-ish type events here ... this probably continues right into EOY the santa claus rally has come early
I'm fascinated by my zoomed in charts. Granted, the day isn't done yet, but here are my charts zoomed in to a 15 minute chart. The /ES just barely went above and now is below. The RUT is above and holding. The S&P is right at the line. And you can't even see the line, it's so far above, on the Nasdaq.
