Sign up today for an exclusive discount along with our 30-day GUARANTEE — Love us or leave, with your money back! Click here to become a part of our growing community and learn how to stop gambling with your investments. We will teach you to BE THE HOUSE — Not the Gambler!

Click here to see some testimonials from our members!

Monday Market Momentum – Still Movin’ On Up

Nothing seems to matter.

Trump's appearance at the G20 meeting this weekend was universally reviled as one of the worst foreign policy disasters since Chameberlain met with Hitler yet there's no indication of it in the Futures as we seem to be holding Friday's pumped-up, low-volume gains – so far.  

ABC's political editor, Chris Uhlmann delivered a scathing analysis of Donald Trump’s presidency during the G20 summit, accusing him of hastening America’s decline as a global superpower and criticised Trump’s presence at the summit in Hamburg, his leadership and use of Twitter, saying his actions in diminishing America are “the biggest threat to the values of the west."

No one at the event was able to disagree as America lost on every possible point while our former allies did end runs around us to make trade agreements with each other now that Trum is questioning our own long-standing trade deals.  It's been 45 years since Nixon went to China but Trump has pushed American foreign policy back to the stone age in just 6 months, generally to Vladimir Putin's advantage.

Putin, for his part, said he would happily accept President Trump's invitation to form a cyber security task force and get to the bottom of who is hacking the elections.  He also pointed to the reporters who were in the room for a briefing and said "These are the ones who insulted you?" to which Trump replied "These are the ones, you're right about that" and you can see Putin's man to his left making an ominous list (Putin is known for eliminating reporters who displease him). 

This is, of course, right after Trump has retweeted a video of Trump attacking a CNN proxy at a wrestling match and just last month Putin was joking with Czech President Milos Zeman about "liquidating" journalists.  Of course, Putin has mellowed over the years.  In 1995 and 1996, over 50 journalists were killed and only 5 in the last 2 years so either Putin is getting soft or reporters have gotten the message.  Either way, you can see why a budding Despot like Trump would look to Vlad for guidance…

We're still in post-holiday, low-volume mode in the markets and, as you can see from Doug Short's S&P chart, we're still treading water under that 2,440 line while we are still waiting for the Nasdaq to give us some signs of life.  

Janet Yellen will testify to Congress on Wednesday and the Senate on Thursday and the Fed's Beige Book will be released Wednesday.  We have a good amount of data this week with PPI, CPI, Retail Sales, Industrial Production, Capacity Utilization and Business Inventories highlighting a busy week as we catch up from reports that were put off due to the holidays.  

I myself am still on vacation and today is a "no-play" day as we don't have enough volume or data to place new bets (though we did pick a new long on IMAX in our Live Member Chat Room this morning) and we remain a bit bearish but mostly neutral and MOSTLY in CASH!!! while we wait for things to come into better focus.

Most exciting is that it's almost earnings season and next week 21% of the S&P 500 will report.  Q1 was pretty good but Q2 needs to be better as expectations are high and the price of many stocks is at record highs and investors are running out of patience in some cases.

Wages are rising, material costs are rising, prices are not being passed along to consumers so it will take a lot of fancy financial engineering to make Q2 look like Q1 but, so far, the 4% early reporters have been coming in in-line with consensus.  Not much of a sample set – but it's all we have to work on so far.

Be careful out there, 

- Phil

 


Do you know someone who would benefit from this information? We can send your friend a strictly confidential, one-time email telling them about this information. Your privacy and your friend's privacy is your business... no spam! Click here and tell a friend!



Comments (reverse order)


    You must be logged in to make a comment.
    You can sign up for a membership or log in

    Sign up today for an exclusive discount along with our 30-day GUARANTEE — Love us or leave, with your money back! Click here to become a part of our growing community and learn how to stop gambling with your investments. We will teach you to BE THE HOUSE — Not the Gambler!

    Click here to see some testimonials from our members!


  1. Good Morning


  2. Good Morning Savi!


  3. New member here. Good morning, all.


  4. Welcome rcs! Good mornin'


  5. Good Morning New Member!  ;)


  6. Phil, can you fix your video so it doesn't auto run when the page updates?


  7. Muck – I concur.


  8. Bournemouth !! / Phil

     

    When I was 17 spent a year there "learning english",  at that time Bmth, they had only a small casino and the town developed a network of english language schools, people mostly retirees lived of renting bedrooms to students, living "english way", there was a vibrant international community of youngsters from everywhere!! it was one of the best times of my life!…..Enjoy it!


  9. Sorry Phil, but I had to…. As for that political kerfuffle or Trump covfefe over the weekend, thanks for the inspiration StJL, Latch, Palot and Jelut, this is for all those of you who may or may not be ignoramuses. Sometimes I just want to do this and Out.



  10. FU FTR!!!!


  11. Frontier's executives say the business is trending in the right direction. Customer losses, excluding canceled past-due accounts, have eased. New managers include a former executive of Alphabet Inc.'s Google Fiber hired to improve network performance.

     

    what are they supposed to say? We are a bunch of morons for getting duped twice by Verizon. Sorry shareholders, but you are the bagholders but our debt holders will be paid in full…probably???


  12. Naybob – Some people just can't handle the truth… Back to work and out :-)


  13. FWIW – Bullish article on oil in Barron's.

    ~Citigroup senior energy analyst Eric Lee, featured in Barron’s as anticipating the bear market when the price was over $100, has become a short-term oil bull at current levels. In his view,

    ~The price of crude oil could touch $60 a barrel before the end of this year, as demand exceeds supply. That forecast would have been aggressively bearish as recently as three years ago, but with West Texas Intermediate trading last week at $44, $60 would mean a price jump of 35%.


  14. die TSLA!!!


  15. FU GNC, FTR, TGT, M, LB, TEVA, JO!!!!!


  16. Musk just can't pump TSLA anymore.  I noticed he didn't take a pic of the inside of the Model 3 which looks like crap.  Looking for the right bear put spread to do with the bad reviews I'm sure the car will get.  Not to mention that TSLA dealers are lowest ranked in customer satisfaction.


  17. GE under 26…dangit!

    LB approaching another 52 week low too

    TGT sinking again

    M sinking again

    FTR up yeah! geez


  18. FTR finally reverse split.   Hope options are available soon


  19. CDN--tomorrow probably



  20. So much for TSLA staying down.  Glad I waited.


  21. Looks like middle class is suffering around the world:

    http://www.pewglobal.org/2017/04/24/middle-class-fortunes-in-western-europe/


  22. Hola people!

    Looks like the markets are recovering already, /TF is lagging so the best bull to pay at 1,408 but tight stops below, especially if /ES can;t hold 2,425.

    Europe closed at highs, reset to Thurs morning:

    /NG with a big recovery too:

    Oil Up? Oil Down? Blame the Algorithms

    As oil market moves confound analysts and longtime investors, many are pointing fingers at the rise of automated trading and algorithms, which they say are distorting the market.


  23. M,LBTGT, wtf?

    amazoned again?


  24. Welcome RCS800 – I'm in Europe on vacation, usually here all day long but not this week.

    Video/Mkucs – Fixed but you may have to refresh screen.

    Bournemouth/Advill – What a super-nice, under the radar kind of place this is.  Poole too.  More casinos now, lots of clubs and tons of restaurants.  Once the summer ends everything is on sale as well.  

    Big Chart – 5,713 is the magic number on the Nasdaq but we've death-crossed there so a rejection would confirm a downtrend.  On the other hand, RUT and SPX were very bouncy off their 50 dmas – which confirms strength so don't be surprised if Nas blasts up through the cross.

    FTR $16.33 – Up 1,500%!!!!  Actually it's up 2.3% for the split-day, so better than crashing.  Chart is already adjusted like it's always been this way.

    Morons/Jabob – Why are they morons, FTR was spitting out tons of money and paying 15% dividends from their prior purchase so they went in for another round with similar terms for $10.5Bn more.   FTR's strategy is to pick up the "unprofitable" wire-line business other companies don't want because FTR is a $1Bn company with now $10Bn in revenues and, if they "only" make 7% (1/2 of what VZ makes) on those accounts, that's still $700m per $1Bn in value.

    Or you can choose to believe that, after having 7 years of experience purchasing and converting VZ wireline accounts, that FTR decided to recklessly bankrupt their business by spending another $10.5Bn, not to expand their own business, but to go back to VZ and add more coverage areas that VZ didn't want, which they will now operate at a loss because they hate their own company and want it to fail, which will certainly cost them their jobs that they also didn't want.

     Oil/Albo – I don't see demand exceeding supply unless OPEC cuts some more but, as we expected, people are now extrapolating off last week's single drawdown.

    TSLA/Rustle – Holding the line at $300 so far:

    Market Chart/StJ – Looks closest to the 20s.

    Middle Class/StJ – Have to be careful with endpoints in 2009,10,11….  What did we hit, like 9% unemployment.  I'm sure at least 16M jobs were clearly lost and that's 10% of our working population and most of those people would have fallen out of "middle class" for the duration.

    LTBGT/Jabob – What is that, some sort of trangender index?  AMZN is back on track to $1,000 – retail beware!

    Oddly enough, AMZN is not such a big thing in the UK from what I've seen.   Could mean growth opportunity but everyone knows who they are – they're just not that interested. 


  25. Phil--should we be adding to GE, M, TGT, LB, GNC now?

    these names have been sinking and I would think this is when you would start pounding the table unless you have changed your mind about them ?

     If M was good at 35 then 21 seems awfully cheap>?

    If GE was good at 28 then under 26? or is it too early?

    If LB was good at 58 then under 44?

    IF TGT was good at 65 then 50???

    IF GNC was good at 17.5 then under 8???

    Not to mention FTR which I know you like down here.


  26. thanks Phil about ftr…

    hilarious on lgbtgt ;-)


  27. Hey. trans is a popular an growing market… BUY!

    LOL, long trannies


  28. Jabob – That is quite a falling knife portfolio. 

    Never thought I'd see M with a 7% yield. 

    Phil, I know you're not a fan of AMZN, but they sure are wreaking havoc on retailers.

    It does seem to me that M is worth a shot here, combined with selling the 2019 $20 puts and the $25 calls.  Looks like a good trade.


  29. albo--seems like 2017 has been the year of falling knives for us..

    amzn has been a killer on both ends…

    hopefully, it is helping us all with opportunities in the long run..


  30. Adding/Jabob – Once we see what they earned we will make decisions.  If we get through earnings and the market is still chugging along and we don't think our FU stocks are that bad – then why shouldn't we deploy more cash there rather than poking at new stuff?  GE way too early.

    The logic of scaling in is to allocate 4 blocks of purchases.  So, if you have a $50,000 allocation block, you:

    • Buy 1x for $12,500 
    • Stock drops 20% – you decide to stay in.
    • Stock drops 40% – you DD at $7,500, giving you 2x for $20,000, 20% off the original price.
    • Stock drops 20% more, now $6K and you are down $4,000 (40%) per 1x.
    • Double down again (assuming you still like them) for $12,000 and now you have 4x for $32,000 – still $18,000 cash on the side and each allocation block cost you $8,000 and each is down $2,000 (25%).

    That's the general progression but,  when we sell puts we roll them and short calls offset some of the losses, etc.  In fact, since you still have $18,000 cash and 4x is $24,000, you probably have enough cash to go 8x or just wait for 1x to get down to $4,500 (another 20% down, 64% off the original price) and then it would cost you $18,000 for 4x more and you'd have 8x for your full $50,000 allocation or $6,250 with the stock at $4,500, so you are down $1,750 28% on your $50K allocation ($14,000) despite the fact that your stock "catastrophically" fell $8,000 out of $12,500 per block (64%).

    So FU all the way to there and THEN we start worrying about whether or not we should keep it!

    In the case of GNC, which is 50% off already – if we're not sure there's no reason to hurry, if it gets cheaper, then our DD is cheaper (if we decide to keep it) and, if we decide it's dead then, then we're glad we didn't DD.  If it goes back up, we're glad we're recovering and, if we feel compelled to buy more, it's still much lower than where we started.  

    In the case of M, I definitely want to hear what they say at earnings.  LB too.

    On FTR, we've been waiting to see the post-split reaction and for the new post-split options to come out.

    Trans/Mkucs – In the UK papers this week, two guys who used to be girls are having babies and they are calling this the first male pregnancy.  Maybe I'm old or sexist or something but I think they are all nuts.

    AMZN/Albo – It's a new paradigm, a retailer that doesn't need to make money on the things they sell.  In theory, it can't keep going that way but, so far, no signs of slowing down.  I certainly like M as a new trade but could be a rough ride.  


  31. thanks Phil!


  32. LOL Phil, Welcome to the UK.  WE do have some fun on our little Island.  Boy's who were girls having babies is just a way of distracting ourselves from the bad news.

    We also have Morris Dancers who perform a similar cultural role. :-)


  33. Girls will be boys/Malsg – It's not the fact that it's happening, it's that people seem to think it's news somehow.  And this thing with the sick baby being such a big deal too – wow.  I wish we had time to worry about that kind of stuff!   Instead we have Russians hacking our elections, millions thrown off health care, etc.  

    And what's up with this:

    RUT made a nice catching up move, as expected.  

    See, even on a slow day we can find something that makes a $1,000 move.  All I did was read the news, see there was nothing to be bearish about and, of course, we're completing our bounces and then I looked for who was lagging to make a bull play.  Once we set /TF as the play, we then note where the other indexes are at the moment to give us stopping out indicators.  

    Now we take that off the table and look for either a fresh horse or, because the indexes all look toppy now, look for a possible reversal.  

    /NQ 5,700 is very likely to be rejected so that's a good line if /TF is below 1,420 and /YM below 21,400 and /ES below 2,430 (which indicates they all failed their next breakout).  

    So shorting /NQ with the stop above 5,700 is the most likely play now. 

    By the way, that's also based on the fact that there's been no interesting news to give us an additional pop and the volume at 1pm is just 20M (low).


  34. Phil, can you give me your thoughts on the dollar in the medium term?  I'm still holding two long contracts from early June, at 97.13, and am thinking about when to double down. 


  35. FT – well.. I don't subscribe (though have in the past) and don't get emails from them, except this morning, I get an email from FT Alerts titled: "Donald Trump's Alarming G20 Performance"  Hmm. unsolicited promotion. Spam. Someone is trying to sell something.


  36. FTR – go go FTR! up 1,382% ;-)


  37. Dollar/Palotay – It's not so much Dollar weakness as Europ strength in the last few months.  That comes because Brexit is a bit more orderly than feared (hopefully).  

    So while the Euro climbs, there is downward pressure on the Dollar but $1.15 should be a pause.  The other factor is who's tightening and who isn't.  So far, the Fed is and others are not but if they start to tighten, then we relatively weaken a bit.  So it should be a long, slow climb back to 100-103 range that's likely to take the rest of the year.  

    FTR/Scott – Jinxed it, down again.


  38. Phil—does that $$ view make you bearish on gold miners? ABX? 


  39. IMAX playing nice today.


  40. HOV breaking to new 52 week high


  41. ABX/Jabob – No, it's a slow burn that will have some pressure on gold but gold/Dollar not paying all that much attention to each other.  Longer-term we have rising rates = inflation = gold is an inflation hedge story back on track.

    IMAX/Scott – Top Trade in a slow market – we'll have to see if it sticks.

    HOV/Scott – There's one back from the dead:

    • "Too big to fail has been solved," said Jamie Dimon earlier this year. “Taxpayers will not pay if a bank fails.”
    • Not so fast, says Minneapolis Fed President Neel Kashkari, noting the Italian government and the ECB on June 1 teamed on a €6.6B bailout of Banca Monte dei Paschi, while protecting some bondholders who should have had to take losses. Then there was Italy's move to protect bondholders of two more banks on June 24 with up to €17B of capital and guarantees.
    • Systemic risk wasn't an issue, so what gives? It turns out, bondholders vote too, and in the Italian cases, the bagholders would have been retail investors. Regulators claim this is a unique circumstance, but Kashkari notes there always seems to be a unique circumstance when bailouts are considered.

    • An interesting divergence is taking place in the forex market – while the dollar (UUPUDN) has continued to trend lower vs. nearly all major currencies, it's been moving higher vs. the yen (NYSEARCA:FXY).
    • Today, it takes 114.20 yen to buy one dollar, up from just 109 a month ago, and the highest since early May.
    • The obvious excuse for the return of the dollar/yen carry trade (sell yen to buy dollars) is the growing gap in the government bond yields of the two countries, and the rising hawkishness of the Fed alongside Bank of Japan's resolve to continue to ease.
    • The yield on the 10-year JGB thus trickles along at about 0.10% (not a typo), while the yield on the 10-year U.S. Treasury has jumped to 2.38% from as low as 2.12% in late spring.
    • Dollar/yen today us up 0.25%.

    • Amazon's (NASDAQ:AMZN) annual day of deals kicks off at 9 p.m. ET today and will run until 3:00 a.m. on July 12.
    • New deals will be posted on the site every five minutes for the extended 30-hour period.
    • Two trends to watch this year with the Amazon Prime event are the deeper entry into apparel and grocery by the Seattle e-commerce giant.
    • In apparel, the list of companies selling on Amazon now includes Calvin Klein (NYSE:PVH), Tommy Hilfiger, Michael Kors (NYSE:KORS) and a new children's brand from Carter's (NYSE:CRI).
    • The grocery sector has to worry about Amazon's larger selection of food items available on Prime Day through AmazonFresh and Prime Pantry. Prime Day will include discounts on alcohol, soda, water and snacks in certain cities. The broad list of companies with their eyes on Amazon's food play includes Albertsons (NYSE:ABS), Supervalu (NYSE:SVU), Kroger (NYSE:KR), PepsiCo (NYSE:PEP), Dollar General (NYSE:DG), Blue Apron (NYSE:APRN) and Target (NYSE:TGT)

    • The jittery apparal store sector is getting roughed up to start the week.
    • Abercrombie & Fitch's (ANF -19.8%) decision not to sell itself and go it alone is influencing some names, while concerns over Amazon's aggressive Prime Day positioning is setting a negative tone on a broad basis. Cautious analyst commentary on Dick's and Five Below is also in the mix.
    • Notable decliners include Destination XL Group (DXLG -8.5%), Big 5 Sporting Goods (BGFV-5.9%), Dick's Sporting Goods (DKS -5.9%), Francesca's (FRAN -5.9%), Ascena Retail Group (ASNA -4.7%), Barnes & Noble (BKS -4%), Gap (GPS -4.8%), Guess (GES -4.9%), Express (EXPR -5.9%), Kirkland's (KIRK -5.6%), Kohl's (KSS -4.4%), Cato (CATO -4.2%), Stein Mart (SMRT -4.1%), American Eagle Outfitters (AEO -4.2%), J. Jill (JILL -2.6%), Finish Line (FINL-3.1%), Dillard's (DDS -3.1%), Urban Outfitters (URBN -2.4%), Tilly's (TLYS -2.5%), Buckle (BKE-5%), Macy's (M -3.3%)and Nordstrom (JWN -2.5%).
    • The SPDR S&P REtail ETF (NYSEARCA:XRT) is down 2.09%.
    • Shares of Best Buy (NYSE:BBY) are down 6.46% in a strong reaction to news that Amazon is setting up its own version of a Geek Squad.
    • If you think the sell-off is overdone, you're not the only one. Bank of America Merrill Lynch is defending the retailer, saying the new Amazon service will only have a limited impact on Best Buy's sales. Loop Capital notes that Best Buy's Geek Squad has a much broader set of services and thinks it could take years for Amazon to compete at scale. Geek Squad revenue is only 3% of Best Buy's sales, which doesn't square with the large drop in share price today.
    • Best Buy is off its lows of the day. Trading voume is 50% higher than normal activity.
    • Source: Bloomberg
    • Previously: Amazon mobilizes its own 'Geek Squad' (July 10)

    Popular oil ETF just had its largest one-week outflow this year

    • Investors pulled $357.6M from the U.S. Oil Fund (NYSEARCA:USO) last week, according to Bloomberg. That's the largest weekly outflow since December.
    • The exit came as the late-June bounce for crude ended in a big way, with black gold falling nearly 4% to $44.23 per barrel last week.
    • Oil this morning is down 0.25% to $44.07. USO -0.4%
    • The world is heading for an oil supply shortage that U.S. shale production will be unable to prevent, as the oil price downturn of recent years has cut investments in long-term oil exploration and development projects, Saudi Aramco CEO Amin Nasser says.
    • The long-term outlook for oil supplies is "increasingly worrying," with ~$1T in investments lost during the downturn and fewer new deposits being discovered, Nasser told the World Petroleum Conference in Istanbul, adding that the world needs at least 20M bbl/day of new production over the next five years to meet rising oil demand as well as offset the natural decline of developed fields.
    • The petroleum industry will be at the heart of global energy for years, and the transition to use of alternatives will be “long and complex," Nasser says.
    • Aramco remains committed to invest more than $300B over the next decade to maintain its spare oil production capacity and explore for more natural gas, Nasser also says.

    • Halliburton (HAL +0.6%) has been hiring ~100 new workers each month so far this year to keep up with surging demand for fracking in west Texas, according to the head of the company's Permian Basin operations.
    • HAL has expanded its active fleet of fracking trucks and pumps in the region by 30% in recent months, adding more than a third to its area workforce to 2,700 employees, Chris Gatjanis tells the Houston Chronicle, calling the situation a "bottleneck" and "a challenge to get people to work here."
    • But U.S. oil prices have fallen into the mid-$40s/bbl again, and it is not yet clear whether oil companies in the Permian will retreat again, Gatjanis says, adding that for now, companies are waiting to see how long the recent oil price downdraft lasts before deciding whether to pull back demand for oilfield services.

    • Total (TOT +0.6%) is in a strong position to take a lead role in helping Qatar expand production from the South Pars gas field – the world's largest – largely because of its involvement in the Iranian side of the shared deposit, Reuters reports, citing sources familiar with the government's thinking.
    • TOT's signing last week to develop the South Pars field, as Iran's part of the shared reserves are known, makes the company the first oil major to return to Iran since the easing of western sanctions and places it ahead of rivals such as Exxon Mobil (NYSE:XOM) and Royal Dutch Shell (RDS.ARDS.B) in the early running for developing the expansion.
    • TOT CEO Patrick Pouyanne tells Reuters: "Of course, I won't go to the same field in Iran without telling Qatar… The Iranian block where we are supposed to produce is next to the border with Qatar. When I traveled to Doha I discussed it with the [Qatari] authorities and they told us: 'It is OK, we know you'.
    • Canadian lender Desjardins says it is temporarily suspending its funding of energy pipelines and may make the decision permanent in September, citing concerns about the impact such projects may have on the environment.
    • Desjardins has committed $145M to Kinder Morgan’s (KMI -0.6%) Trans Mountain pipeline expansion, and a permanent decision likely would mean it also would not help finance other major Canadian pipeline projects, including TransCanada’s Keystone XL (TRP -0.4%) and Energy East and Enbridge’s (ENB -0.5%) Line 3.
    • Such a move would follow Dutch lender ING's policy of not funding projects directly related to oil sands, and is another sign that pipelines could have a harder time getting funding as banks face increasing pressure to back away.
    • The cost of Lockheed Martin's (LMT +0.6%) F-35 jet program, already the most expensive U.S. weapons program ever, is expected to rise ~7% to at least $406B, Bloomberg reports, citing a draft report, which would mark a reversal after several years of estimates that have fallen to $379B from a previous high of $398.5B in early 2014.
    • Extending production of the 1,763 Air Force versions could be one source of the $27B increase in the new cost estimate, Bloomberg reports.
    • The increase in the total acquisition cost estimate may grab the attention of Pres. Trump, who has publicly asked for lower costs for individual F-35 jets.

    Nomura sees 29% jump in Q2 Macau casino EBITDA

    • Nomura forecasts Macau casinos generated $1.73B of EBITDA in Q2, up 29% from last year's level.
    • The firm also calls out a Q2 winner in the sector. "In the past few quarters, VIP improvement has been heavily concentrated to Wynn (WYNNOTCPK:WYNMFOTCPK:WYNMY). For the VIP recovery to be sustainable, we will expect the VIP growth to be more spread out," reads today's update from Nomura.
    • Related ETF: BJK.
    • Goldman Sachs’ chief U.S. equity strategist David Kostin expects stable margins for large-cap tech stocks going into Q2, per CNBC.
    • Kostin writes in a note that the S&P 500 Information Technology sector beat consensus estimates in Q1 and analysts expect Q2 margins to fall 31 basis points. But Kostin expects FY17 margins at a stable 19.9%. 
    • Goldman’s picks for top margin growths in FY17: Nvidia, Lam Research, and Qorvo. 
    • Jefferies downgrades Intel (NASDAQ:INTC) from Hold to Underperform and drops the price target from $38 to $29, a new Street low.
    • Analyst Mark Lipacis cites industry shifts away from the data center model, which Intel dominates. 
    • Lipacis also believes the industry will continue moving towards parallel processing and IoT due to lowering supply prices and improving tech in the space. 
    • Analyst’s parallel processing picks: Nvidia top pick but also sees Advanced Micro Devices, Xilinx, and Cavium as well positioned.
    • IoT picks: Maxim, Texas Instruments, Analog Devices, and Microchip. 
    • Source: Bloomberg
    • Intel shares are down 1.51% premarket. 
    • Nvidia shares are up 1.73% premarket.
    • Spider-Man: Homecoming took in $140M at the international box office and $117M in the U.S. to mark the second best opening weekend in the history of the Spider-Man franchise. The solid showing for the Sony (NYSE:SNE) feature is the third best movie opening of the year after Guardians of the Galaxy Vol. 2 and Wonder Woman.
    • Universal's (NASDAQ:CMCSADespicable Me hauled in $34M in the U.S. for the weekend and Sony/Tristar film Baby Driver took in $12.75M.
    • The U.S. box office is down 0.2% YTD at a gross of $6.043B through July 9.
    • Previously: Spider-Man comes to Sony's rescue (July 9)

    • That’s the prediction of blogger and Apple (NASDAQ:AAPL) watcher John Gruber who cites supply-chain issues and demands in the pricing, according to CNBC.
    • The $1,199 to $1,249 predicted price range pertains to the 64GB version of the highest end iPhone thought to release this fall, which will reportedly include an OLED screen.
    • Gruber predicts that the 256GB model could cost between $1,299 and $1,399. 
    • Previously: KeyBanc analyst expects OLED iPhone delays (July 10)
    • The Senate Republicans are still short the 51 votes they need to pass the GOP health care proposal.
    • Senator John McCain said he thinks Republicans should work with Democrats to craft health care legislation, while Senator Ted Cruz called for a measure to simply repeal Obamacare and debate a replacement.
    • "No action is not an alternative," commanded Senate Majority Leader Mitch McConnell.
    • President Donald Trump made some waves over his suggestion of a potential cybersecurity partnership with Russia. Key lawmakers such as Senator Marco Rubio and Senator Lindsay Graham criticized the idea of working with the nation accused by U.S. intelligence agencies of hacking efforts.
    • Reaction was divided within the Trump team. U.N. Ambassador Nikki Haley was quoted Sunday as saying "we won't ever trust Russia," while Treasury Secretary Steven Mnuchin applauded a potential U.S. plan to "fight cyber" with Russia.

     


  42. I'm off to dinner, will try to check in later.


  43. Jabo – M,LBTGT, wtf? amazoned again?

    Muck – Hey. trans is a popular an growing market… BUY!  LOL, long trannies

    Phil – In the UK papers this week, two guys who used to be girls are having babies and they are calling this the first male pregnancy.  Maybe I'm old or sexist or something but I think they are all nuts.

    Malsg – LOL Phil, Welcome to the UK.  WE do have some fun on our little Island.  Boy's who were girls having babies is just a way of distracting ourselves from the bad news. We also have Morris Dancers who perform a similar cultural role.

    Girls will be boys/Malsg – It's not the fact that it's happening, it's that people seem to think it's news somehow.  

    Thanks for my ROFLMAO and musical adventure of the day, I met her down in a club in old Soho and I've had my share of this and Out.


  44. FU AMZN!!!!!!!


  45. ftr under a buck… unreal

    what a POS!


  46. Dollar Outlook -The broad trade weighted dollar is coming off a high. Multiple carry trades EUR, CHF, SEK, AUD, NZD, RUB, BRL all pressing YTD highs. The USD/JPY is hitting a two month high going from 108 to 114. Cheaper yen, low yen borrowing cost, and higher US bond yields could reverse that and Out.


  47. FTR  what a deal! Come on 80c… I'm not selling, just waiting patiently to buy Jabo's stake… :)


  48. What about FTR preferred shares which are mandatory convertible June 18?



  49. Good morning!

    Travel day, back to London.  I'll put up a post and then on the Train, will check in from there, by noon, I imagine.