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Stock Market Daily Discussion for May 2nd - 6th

Discussion in 'Stock Market Today' started by StockJock-e, Apr 30, 2016.

  1. Tiptopptrader

    Tiptopptrader Well-Known Member

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    It has been some bad days in the neighborhood this week to say the least. The big test will be if the S&P touches 2041 and if so if it will bounce from there. I think the sell off has been over done.

    upload_2016-5-4_12-10-32.png
     
    OldFart likes this.
  2. LSS Trading

    LSS Trading Member

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  3. MaximusAnalysis

    MaximusAnalysis Active Member

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    Today's Market Thoughts



    Names included in vid:

    Amzn
    Fb
    HIve
    Tex
     
    OldFart likes this.
  4. duck mich

    duck mich Member

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    future not looking too bad, may be green day tomorrow.
     
  5. OldFart

    OldFart Well-Known Member

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    BABA going nuts on good earnings
     
  6. duck mich

    duck mich Member

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    BABA beat Rev. and missed EPS, 4% so far
     
  7. MaximusAnalysis

    MaximusAnalysis Active Member

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    #ES_F $ES_F #SPY levels to watch 2059.50 / / 2048 / / 2036.75
     
  8. MaximusAnalysis

    MaximusAnalysis Active Member

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    Interesting how much Tesla gave back from the overnight session
     
  9. OldFart

    OldFart Well-Known Member

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    US weekly jobless claims total 274,000 vs 260,000 estimate
    http://www.cnbc.com/2016/05/05/us-weekly-jobless-claims-apr-30-2016.html

    The number of Americans filing for unemployment benefits rose more than expected last week, posting the biggest gain in more than a year, but the underlying trend continued to point to a strengthening labor market.

    Initial claims for state unemployment benefits increased 17,000 to a seasonally adjusted 274,000 for the week ended April 30, the Labor Department said on Thursday. Last week's increase was the largest since February of last year.

    Claims for the prior week were unrevised. Economists polled by Reuters had forecast initial claims rising to 260,000 in the latest week. Jobless claims have now been below 300,000, a threshold associated with healthy labor market conditions, for 61 consecutive weeks, the longest stretch since 1973.

    A Labor Department analyst said there were no special factors influencing last week's claims data and only claims for the District of Columbia had been estimated.
    The number of Americans filing for unemployment benefits rose more than expected last week, posting the biggest gain in more than a year, but the underlying trend continued to point to a strengthening labor market.

    Initial claims for state unemployment benefits increased 17,000 to a seasonally adjusted 274,000 for the week ended April 30, the Labor Department said on Thursday. Last week's increase was the largest since February of last year.

    Claims for the prior week were unrevised. Economists polled by Reuters had forecast initial claims rising to 260,000 in the latest week. Jobless claims have now been below 300,000, a threshold associated with healthy labor market conditions, for 61 consecutive weeks, the longest stretch since 1973.

    A Labor Department analyst said there were no special factors influencing last week's claims data and only claims for the District of Columbia had been estimated.
    According to a Reuters survey of economists, the Labor Department is expected to report on Friday that nonfarm payrolls increased by 202,000 jobs in April after a gain of 215,000 in March. The unemployment rate is seen hold steady at 5.0 percent and average hourly earnings are forecast rising 0.3 percent for a second consecutive month.

    Thursday's claims report showed the number of people still receiving benefits after an initial week of aid fell 8,000 to 2.12 million in the week ended April 23, the lowest level since November 2000.

    The four-week average of the so-called continuing claims declined 17,000 to 2.14 million, also the lowest reading since November 2000.
     
  10. anotherdevilsadvocate

    anotherdevilsadvocate Well-Known Member

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    AMD (@Tiptopptrader posting in the stock's thread) and precious metals picking back up.
     
  11. OldFart

    OldFart Well-Known Member

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    QQQ can't seem to get up above that TL

    qqq.png
     
  12. OldFart

    OldFart Well-Known Member

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    Broke through this time...too bad my internet connection is messed up today. Hopefully, tomorrow it'll be fixed.:mad:
     
  13. StockJock-e

    StockJock-e Brew Master
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    Yeah, it was looking pretty solid yesterday, I guess some longs decided it was time to lighten up.
     
  14. OldFart

    OldFart Well-Known Member

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    are we forming a bottom here on the QQQ's?....

    qqq.png
     
  15. StockJock-e

    StockJock-e Brew Master
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    Yeah, I would say so.

    AAPL just needs to pop below 92 to scare off those longs looking at that support, then rally off from there and up we go again.
     
  16. OldFart

    OldFart Well-Known Member

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    Yep, I've been looking at AAPL as well, and it looks like you may be right...they're just running stops on it and bad mouthing it on CNBC to get it cheaper...bastards!
     
  17. DoveJohns

    DoveJohns Active Member

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    It's amazing how quickly things changed for TSLA, LNKD and WTW after ER. Seems like shorts are back in control

    WTW opened around +16% and up only 2.3%
    LNKD was up more than 10% just end of last week after ER was announced but now it is back to pre-ER share price
    TSLA was up nicely and now already in negative territory... We can find more examples...

    Not to mention what is going on with FIT... Beat both top and bottom line, raise full year guidance and still managed to go down almost 18%

    I expect a classic Friday relief rally tomorrow but who knows...
     
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  18. StockJock-e

    StockJock-e Brew Master
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    Im not counting the bulls out yet!
     
  19. duck mich

    duck mich Member

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    are we fully in bear market now?
    what happened to AMZN today ?
     
    #79 duck mich, May 5, 2016
    Last edited: May 5, 2016
    MaximusAnalysis likes this.
  20. MaximusAnalysis

    MaximusAnalysis Active Member

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    Today's Market Thoughts

    Names included in video:

    TSLA
    AMZN
    ACAD
    IWM

     

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