Good morning. Happy Thursday.
The Asian/Pacific markets closed mixed. Australia and New Zealand rallied better than 1%. Europe is currently mixed. There are no 1% movers. Futures here in the States point towards a positive open for the cash market.
The dollar is up a small amount. Oil is up a little; copper is flat. Gold and silver are mostly flat.
CSCO did well with earnings. They raised their dividend, and the stock is up 7.4% pre market – a huge move for the company.
WMT beat estimates by a penny. The stock is down $1.73 before the open.
One of Facebook’s lock ups ends today. 268 million shares, or about 10% of outstanding shares, are now available to be sold. This is big but not nearly as big as their mid November lock up expiration. According to Business Insider, these are the dates…
I’m thinking a time to buy FB may be right around that November lock up. Some selling pressure ahead of the date along with a little downside pressure after may provide a good buying opportunity. I’ve seen it happen many times. Everyone thinks a stock is going to tank, and instead it takes off.
AAPL is supposedly in talks with cable companies about Apple TV (not an actual TV, the set-top boxes). TV is the last frontier. It’s one piece of technology that hasn’t changed in decades.
The market has been very slow lately, but some discrepancies are starting to form between the indexes. Here’s the daily S&P. Yesterday it hit a higher high, but a small rising wedge is forming. Be careful out there. You definitely don’t want to put all your chips on the table. More after the open.
headlines at Yahoo Finance
headlines at MarketWatch
today’s upgrades/downgrades
this week’s Earnings
this week’s Economic Numbers
0 thoughts on “Before the Open (Aug 16)”
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The VIX readings suggest market near a top. Usually followed by a correct>6% lasting two months more or less.
The wedge shown in Jason’s graphs are suggestive of the top. Link of history of VIX.
http://1.bp.blogspot.com/-hWRDMPDpmOs/UCxbfJL9tQI/AAAAAAAABSw/Gw51Pbn5LpI/s400/vix.png
Thanks Whidbey
yes thanks whid great job figuring out the market should come down
please let us know when you figure out why it’s not
it was the hash of nite for some or high noon for others
not a bullish fed was moving
just some greedy insto bank market makers so easyly moving the market,probably on no volume moving the market to the opts ex strike price for tomorrows opts ex
the bull muster may be coming to a close–and the abbotours glue factory next
shares are just pawns to their derivitive masters
dont trade prawns trade galactic futures
too many puts put a floor under the market and make skanks job easy
opt traders crap in their own beds
3rd day in a row buying aci morning dip and selling afternoon
maybe some shorts could roll ole greenspan out in a wheelchair
and he could shake his fist and yell IRRATIONAL EXHUBERANCE !!
can naked shorts being called up cause a irrational exhuberance false break top
commonly called a blow off top
QE3 before the bell friday—-LOL
disappointing leading indicators would be a perfect excuse…
no matter what the numbers are
you can tell we’re close to a top
cnbc’s trotting out the goofy looking fukers
claiming we’re going up 20% from here
im short for a bit of fun ,but prob a flat day