It doesn't happen too often but if you ever see the VIX outside the BB's, it is a very high probability trade to invert
Trump is supposed to release a tax package tomorrow. We don't know whether he will release it during the regular trading hours or not, will be interesting to see if we get a sell the news event or the party goes on at Wall Street
In .68 out .86 Not the best trade and probably got out too early again... but not bad for trading at work I guess...
Don't know when the tax plan will be coming out today, but my guess is that the market will be holding up well at least till the plan finally comes out
They are talking on tax cut now, seems like the market is moving a little lower while Munchin is talking
Here are some of the upcoming ERs due out after the close today: ($LVS $PYPL $AMGN $XLNX $WLL $UCTT $FFIV $BWLD $ORLY $NTRI $SU $TER $NOW $TSCO $CTXS $MEOH $SAM $GG $CDE) Spoiler: CLICK HERE FOR THE EARNINGS TIMES & ESTIMATES AFTER THE CLOSE TODAY! Here are some of the upcoming ERs due out before the open tomorrow morning: ($CLF $F $AAL $BMY $CELG $NOK $LUV $UAA $STM $UPS $MGM $DPZ $SIRI $CMCSA $VALE $RTN $ABBV $EXAS $DOW) Spoiler: CLICK HERE FOR THE EARNINGS TIMES & ESTIMATES BEFORE THE OPEN TOMORROW MORNING!
Might be time to start watching oil here. It's way oversold and coming into the summer driving months. Maybe even NAFTA talks could give it a bump.
slightly surprised to see vix still with the 10-handle here ... the vix full range yesterday (high/low/close) was sub 11 ... i read somewhere that's only happened a handful of times in history btw just a quick heads up to everyone in here but my schedule has changed just a bit this week ... i likely will no longer be able to get a morning market movers thread up in the pre-markets like i've used to been doing for the past year now ... i can still post up the earnings stuff in here during the lunch hours but that's about it ... admittedly those morning threads really ate up a lot of my time not to mention were quite tedious to put together every morning ... not sure if they will be missed or not ... didn't really see anyone reading or posting in them anyway ... but i just won't have time to do those anymore for the time being. i'm hopeful that i will still have time to run all of the weekly market polls and stock picking threads ... but unfortunately my participation during the day will be dwindling a bit more this summer ... kind of sucks ... if i could choose i would hang out here all day lol
BIG afternoon for tech earnings today! Here are some of the companies due to report after the close today: ($AMZN $MSFT $GOOGL $INTC $SBUX $WDC $SWKS $GPRO $BIDU $EXPE $CY $SRPT $WFT $SWN $KLAC $SIMO $FTNT $VRTX) Spoiler: CLICK HERE FOR THE EARNINGS TIMES & ESTIMATES AFTER THE CLOSE TODAY! 0
Funny you mention the VIX Cy Just bought some 11.5 may calls. With Trump in the whitehouse, the volatility is nuts.... lol
@bigbear0083 you should take a few weeks or a month off this summer, let @StockJock-e fill in for you. Once he see's all the work you do around here I think you could renegotiate your contract for a raise lol. As for the VIX, Most people here know that I started getting pretty bearish a couple of weeks ago... and I have been completely wrong (so far). I still feel that the markets are feeling very toppy and as we move back to normalizing rates we could move back to normalized cycles and "Sell in May" just might come back into favor. SPY below 237.39ish could produce a lower low on the SPY very quickly imo
So here is my Thursday morning, sleep deprived, bearish take, strongly influenced by the theories of accumulation/distribution discussed in the book "A complete Guide to Price Analysis". MM's are taking profits, but they need to unwind their positions without dropping prices. The way they accomplish this is they "use the news" to unwind their position. Every time "the Donald" tweets something about MAGA (lower taxes, re-negotiating NAFTA, killing Obama Care, whatever) retail jumps in gleefully buying, full of FOMO and patriotism. You can see MM's selling with high volume all while they are holding up prices with small candles and large green candles with lower volumes when they sell into the news. When they have unwinded their positions they will unload the last of their shares collapsing the markets, retail will hold too long and when they can take no more pain they will sell at lows where the MM's will happily start building positions again for the next run up. ...rinse and repeat..
No problem Cy, enjoy the summer and the weather out there when you get a chance, I know a lot of people here appreciate what you have done in this forum If you need to take a little off from the weekly/daily contests then just let us know I did read what you posted on the morning by the way, I just couldn't read them like until 1 pm EST since I am in Hawaii
