Tag Archives for " FB "
Scott Redler’s Chart Attack: AAPL, FB
Yesterday’s tactical plan for Apple (AAPL) to buy/test near the 8day was a good road map. Now we’ll see if $108.30ish holds and builds an upper floor to digest a nice post earnings move from $102.75 to $110.23. Some of my spreads expire this Friday. September will sit. Facebook (FB) has been digesting/lethargic since they sold the earnings report at highs. Yesterday could be a start as I nibbled at the 21 day which has been support. In order for it to get better, it needs to take out and close above $124.40 but the real area is $126. Positions Disclosure: Scott J. Redler is long AAPL call spreads, FB P.S. Want to get an edge in today’s algo/HFT-driven markets? Click here to learn about Rob Smith’s FREE Quant Edge Webinar
Continue Reading -->Crude’s Big Move… and 4 Other Thoughts on Today’s Action
Attention! On Thursday afternoon, T3 Live’s Dave Green is hosting a FREE trading webinar. Click here to learn how Dave crushes the market! 1) Crude Move Crude oil got a nice lift on this morning’s EIA inventory numbers. We saw a substantial builds in overall and Cushing, OK inventories, but massive draws in gasoline and distillate inventories. However, we’ve gotten other recent data (Saudi pumping levels, API data) that is bearish, and it’s now down a little. If crude oil can’t hold, it will embolden the bears. 2) Bio/Pharma Weakness Biotech and pharma are getting hit today on negative news from Eli Lilly (LLY) and Mylan (MYL), which is not good because health care is a key bull driver However, they’ve rocketed off post-Brexit lows so it’s fair to accept some consolidation after big, dramatic moves. A move off the lows would be encouraging, though I wouldn’t count on it. 3) Sentiment The ISE Sentiment Index is reading 100 as of 10:30 a.m. ET, which is perfectly neutral. (100 calls bought for every 100 puts) However, there is opposing action between individual names and the index/ETF sides. On the index side, traders look pretty bearish. (just 35 calls for every 100 puts) In individual names, the reading is 155 (155 calls for every 100 puts). Meanwhile, the Investors Intelligence survey was released today, showing that 54.3% of newsletter writers are bullish. This is very close to II’s 55% danger zone. 4) Large Cap Tech Sagging Big tech names like Apple (AAPL) and Facebook (FB) are looking “saggy” today, for lack of a better term. Like the health care complex, they could use a little consolidation time after posting big gains. That said, traders may get discouraged of tech loses its leadership status, since it’s played a big role in keeping equities at all-time highs. 5) Still No Vol… Volatility is still nowhere to be found. So far today, the S&P has trade in a less than 5-point range, which is threatening to put me to sleep all over again. I still think we’ll get a volatility spike soon, but there’s no sign of it yet today. Look at oil. We’ve gotten a lot of news is the past 18 hours, and it’s still barely doing anything. Click here to check out Dave Green’s webinar this Thursday!
Continue Reading -->Morning Call Express: New Month
In today’s Morning Call Express, Scott Redler welcomes us to a new month and talks about the sideways action we have seen in the SPX and what levels to look at for movement. He also looks at recent earnings names like AMZN and GOOGL along with a game plan for each. Scott also looks at the action in FB and AAPL.
Continue Reading -->T3’s Take T3: Pop & Drop at the F.B. Corral!
By Michael Comeau 1) Lucky 13 for Facebook Yesterday after the close, social media giant Facebook (FB) delivered a massive earnings beat, sending shares as high as $133.91 in extended trading, or up 8.6%. The company is seeing significant growth in mobile, higher revenue from Instagram, and improving user engagement metrics, Facebook’s huge numbers weren’t exactly a surprise, since the company had beaten Wall Street’s earnings estimates for 12 straight quarters, making yesterday lucky number 13. This set the stage for a sell-the-news reaction, and Facebook finished well off the highs at $125.00 up 1.4% on the day. However, Facebook shares are still doing incredibly well in 2016 with a 19.4% year-to-date gain. 2) Jeff Cooper on Facebook’s Exhaustion Signal This afternoon, my buddy Jeff Cooper issued an interesting take on Facebook’s weakness: FB is poised to leave a large-range Gilligan sell signal if it closes at/near session lows. This is an exhaustion signal marked by a gap up to a new 60 day high with a close at/near session lows. AAPL is a different pattern as its earning’s gap was not a gap to new 60 day highs or 52 week highs or all time highs as is the case with FB. My takeaway is that institutions are scale-up sellers on pops. Tomorrow we get the reaction to two other FANG stocks (AMZN and GOOGL). If they react similarly to FB or don’t blow out expectations, there may be nothing left on the table to prevent a slide. 3) Another Day, Another Grind Given that crude oil is a major drive of equity market sentiment, I’ve been a bit surprised at how well equities have held up in the face of oil’s near-20% decline off the highs. And again today, we saw oil decline sharply… and stocks basically rolled their eyes. The S&P 500 went nowhere for the second day in a row, finishing at 2170.06, up 0.2%. In fact, the S&P hasn’t made a 1% move since July 8. Facebook and Apple’s (AAPL) small gains today helped the Nasdaq outperform. Biotechnology led the decliners’ column today, with the S&P Biotech ETF (XBI) falling -0.5%. Energy stocks were down on oil’s decline, with oil service names showing notable dips. P.S. My partner in crime Kurt Capra is hosting a FREE trading webinar after the close on Tuesday, August 2, 2016. Click here to sign up
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