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  1. Phil

    Good morning!  

    AAPL $476 at the moment after bottoming at $457 overnight.  

    Nas futures right at 2,723 and still a good long over the 2,725 line.  

    Asia was mixed with the Nikkei up 1.3%, Hong Kong flat, Shanghai down 0.8%, India down 0.25% and Singapore up 0.5%.

    Europe opened flat but picked up nicely and, other than the Nasdaq, our Futures are holding up well so our biggest fear – that AAPL's earnings may be the straw that breaks the rally's back – is unfounded (so far).  

    3:55 AM European stocks are mostly lower as Apple's lackluster earnings – well it's all relative – cast a global shadow. "Despite the firm close in the U.S. and better-than-expected (PMI) data from China, European traders appear to be on a more cautious footing," says trader Jonathan Sudaria. "The after-hours release of Apple earnings have not been interpreted well." EU Stoxx 50 -0.3%, London +0.1%, Paris -0.1%, Frankfurt -0.3%, Milan -0.4%, Madrid +0.05%.

    4:32 AM Eurozone shares reverse course and turn solidly higher following improvements in German and eurozone PMI data, with even shares in France in the green despite the country's situation stayingrather depressing. EU Stoxx 50 +0.2%, London +0.2%, Paris +0.4%, Frankfurt +0.1%, Milan +0.2%, Madrid +0.3%.

    Profits at $1 Trillion Meet Valuations as S&P 500 Rallies (Bloomberg)

    Calling off the Recession?  Flash eurozone manufacturing PMI climbs to a 10-month high of 47.5 from 46.1 in December; manufacturing output 48 vs 46; services 48.3 vs 47.8; composite output 48.2 vs 47.2. The data "suggest that the eurozone economic downturn has eased," says Markit. "Forward-looking indicators…suggest that the rate of decline will continue to slow in the coming months, and a return to growth looks to be on the cards" in H1. (PR) 

    Flash German Manufacturing PMI rises to an 11-month high of 48.8 in January from 46 in December; manufacturing output 50.4 vs 47.1; services hits 19-month peak of 55.3 vs 52; composite output 53.6 vs 50.3. "Germany's private sector has kicked back into gear in January, as output rose at a pace that would deliver a swift recovery in GDP from the ground lost during (Q1)," says Markit. (PR)

    France still sucks:  Flash France Manufacturing PMI falls to 42.9 in January from 44.6 in December; manufacturing output 40.8 vs 43.3; services crashes to 46-month low of 43.6 from 45.2; composite output also hits a 46-month trough of 42.7 vs 44.6. "Sickly performances from both the manufacturing and service sectors resulted in the steepest drop in overall output for almost four years, while the…(speed) of job losses gathered pace," says Markit. (PR)

    Spanish 10-year bond yields may be only just above 5%, but the crisis in the real economy continued unabated in Q4, with unemployment rising to a record 26.02% from 25.01% in Q3. The number of people out of work reached 6M, or a third of the eurozone's jobless citizens. It was even worse for those under 25 as youth unemployment hit 60%. - On the bright side – 1/3 of Europe's unemployed are in Spain so, if we ignore them – things for the rest of the continent are looking up

    The euro turns positive against the dollar following Germany's decent PMI data and is +0.1% at $1.3321. Earlier, it hit a session low of $1.3288

    Almost flat earnings and a disappointing forecast from Apple (AAPL) leave a few casualties in Japanese trading today: Softbank (SFTBY.PK) – a Japanese carrier of the iPhone – is down 0.9%, Sharp (SHCAY.PK) and Foster Electric – both of which make parts for the phone – dropped 1.5% and 1%, respectively.

    Japanese exports fell a more than expected 5.8% in December, outpacing expectations for a 4.7% dip, as shipments to China slipped again and even U.S.-bound exports shrank. Imports rose 1.9%, sending the trade deficit to ¥641.5B ($7.24B), which was also wider than economists forecast of ¥548.5B. Exports to China have declined recently over political tensions between the two nations, fell 15.8% in December, while those to the U.S. slipped 0.8%, the first decline in nearly 14 months. Exports to Western Europe fell 12.3%.

     “These are bad numbers for the economy,” said Junko Nishioka, chief economist at RBS Securities Japan Ltd. and a former BOJ official. “The positive impact of the yen’s decline on exports has yet to be seen, but it is already boosting import values.”

    China's January HSBC Flash PMI rises to 51.9 from December's final read of 51.5. It's the 5th consecutive rise for the index which now stands at its highest level in 2 years. "Despite still-tepid external demand," says HSBC, "the domestic-driven restocking process is likely to add steam to China's ongoing recovery."

    China manufacturing capacity utilization in 2012 below 2008 level: UBSThe overcapacity problem in China created by booming economic growth in recent decades resulted in even lower utilization in the manufacturing sector in 2012 than during the global financial crisis in 2008.

    What Really Goes On In China.

    South Korea's Q4 GDP rises just 1.5% Y/Y, pulling growth for all of 2012 down to 2%, the weakest since 2009 and well below this summer's central bank forecast of 3%. The export-driven economy has been hit by the 1-2 punch of weak external demand and a strengthening won. The Kospi is down a fraction.

    More on Apple's (AAPL) FQ1 call: Tim Cook mentions over 2M Apple TVs were sold in the quarter, and asserts the TV is "an area of intense interest" (previous). The new iMac was also heavily supply-constrained during the quarter. The mix of current to prior-gen iPhone sales was similar to a year ago. CFO Peter Oppenheimer says new stock buybacks is something Apple continually assesses. This could be a good time for one. (live blog) (more on Apple) 

    Apple(AAPL) Sold More Than 2 Million Apple TVs Last Quarter, Tim Cook Dodges Question About Future TV Plans

    Boeing(BA) 787 to Stay Grounded as U.S. Can’t Explain FiresThe top two U.S. aviation regulators said they don’t know what led to battery flaws that prompted them to ground Boeing Co. (BA)’s 787, and defended their decision to not let the plane fly until the cause is found.

    And more oil:  Shale Oil Bonanza Reaches Australia With '$20 Trillion' Discovery. 

    Kashkari Resigns Amid 'Spotty' Fund Performance, Heads Back To Public Office.

    Is Contemporary Conservatism Just ‘Payola’? (Center for American Progress)

    The conservative movement is still an elaborate moneymaking venture (Salon)

    Dollar up and down but still around 80, oil $95.59, gold $1,681 with a lot of negative outlooks hitting them this morning, silver failed $32 ($31.975) so a good long over that line if the Dollar fails 80, copper down to $3.68 on China over-supply concerns (again).  Yes, it doesn't just magically go away…  Nat gas tested $3.50 and back to $3.58 but will suck for them when the cold snaps and gasoline refuses to lose at $2.85 but inventories today will be interesting.  Gasoline is a tempting but very dangerous short below the $2.85 line (/RB). 

    Notable earnings before Thursday’s open: ABCALK,ARGAVTBAXBMYBPOPCELGCYDOVEQTESIETN,FCS

    GWWJNSJVAKCGKEYLMTLUVMKCMMMMWW,NMMNOKORIPCPQSII

    RTNRYNSWKTZOOUALUNP,XRX

    Notable earnings after Thursday’s close: CPHDCRUS,EDEGHTETFCFLEXINFAJBHTJNPRKLACMSFT

    MXIM,QLGCRMBSRMDSBUXSCSSSXLSYNATTKRTPX,VRSN

    Thursday's economic calendar:

    8:30 Initial Jobless Claims

    9:00 PMI Manufacturing Index Flash

    9:45 Bloomberg Consumer Comfort Index

    10:00 Leading Indicators

    10:30 EIA Natural Gas Inventory

    11:00 EIA Petroleum Inventories

    4:30 PM Money Supply

    4:30 PM Fed Balance Sheet



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ValueWalk

2017 List Of The Best Investing Blogs On The Planet

By The Acquirer's Multiple. Originally published at ValueWalk.

Every year Tobias and I sit down to pick out fifty of the best investing blogs on the planet. This list is by no means complete and is certainly not in any particular order. If you’re an investor take some time to read through the great blogs on this list, they’ll provide you with an awesome starting point for your investing education.

If you think we’ve missed a great investing blog, stick it in the comments section below.

Here’s 50 of the best investing blogs on the planet for 2017, plus a couple more:

]]> Get The Timeless Reading eBook in PDF

Get the entire 10-part series on Timeless Reading in PDF. Save it to your desktop, read it on your tablet, or email to your colleagues.

We...



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Zero Hedge

In Memoriam, 2017

Courtesy of ZeroHedge. View original post here.

Authored by Robert Gore via StraightLineLogic.com,

You don’t fight for your country, you fight for your government.

The Golden Pinnacle, by Robert Gore

On Memorial Day, America remembers and honors those who died while serving in the military. It is altogether fitting and proper to ask: for what did they die? Do the rationales offered by the military and government officials who decid...



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Phil's Favorites

Investors Slowly Waking to Technology Tailwinds

 

Investors Slowly Waking to Technology Tailwinds

Courtesy of Wade Slome, Investing Caffeine

In recent years, investors have been overwhelmingly been distracted by geopolitical headlines and risk aversion caused by the worst financial crisis in a generation. In the background, the tailwinds of technological innovation have been silently gaining momentum. Although this topic is nothing new for Investing Caffeine followers, the outperformance of technology stocks has been pretty stunning in 2017 (see chart below), with the S&P 500 Technology sector rising almost +20% versus the Non-Tech sector eking out a little more than +1% return. Peered through the style lenses of Grow...



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Market News

Market Moving News

 

Financial Markets and Economy

This is the one thing veterans want you to know about Memorial Day (Business Insider)

Do not thank me for my service because today is not about me at all.

That's what a number of fellow military veterans said, when I asked what they wanted people to know about Memorial Day.

"It's not about us," said Staff Sgt. Jay Arnold, a soldier with the Illinois Army National Guard. "It's about those who went before us."

European Stocks Steady; Italian Banks Fall After Renzi Comments (Bloomberg)

European stocks were steady while shares...



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Digital Currencies

One Professional Investor's Take On Bitcoin

Courtesy of Zero Hedge

By Kevin Muir via The Macro Tourist blog

We all know Dirty Harry’s viewpoint about opinions, but I wonder what Detective Callahan would think about today’s bitcoin mania. It seems like every Tom, Dick and Harry feels obliged to weigh in about the manic action of the their favourite virtual currency, yet I am curious how many of these crack pundits have ever even transacted in bitcoin.

I am by no means an expert, but have at least owned bitcoins, mined th...



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Chart School

Weekly Market Recap May 28, 2017

Courtesy of Blain.

Another winning week for the bulls, in a year full of them!  Things kicked off with a bang with a gap up Monday as the after shocks of the Comey removal – the one thing that seemed to shake this market for 24 hours – passed in the night.   Wednesday, minutes of the Federal Reserve’s latest policy meeting showed broad agreement on plans to begin shrinking the central bank’s balance sheet and also pointed to a likely rate increase next month, as widely expected.   Another gap up to start the day Thursday and serenity was found for the week.  Every day was up for the S&P 500 to book a weekly finished of +1.4% while the NASDAQ raced ahead +2.1%.

The minutes of the early May meeting showed that members were ...



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Members' Corner

Robert Sapolsky: The biology of our best and worst selves

Interesting discussion of what affects our behavior. 

Description: "How can humans be so compassionate and altruistic — and also so brutal and violent? To understand why we do what we do, neuroscientist Robert Sapolsky looks at extreme context, examining actions on timescales from seconds to millions of years before they occurred. In this fascinating talk, he shares his cutting edge research into the biology that drives our worst and best behaviors."

Robert Sapolsky: The biology of our best and worst selves

Filmed April 2017 at TED 2017

 

p.s. Roger (on Facebook) saw this talk and recommends the book ...



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OpTrader

Swing trading portfolio - week of May 22nd, 2017

Reminder: OpTrader is available to chat with Members, comments are found below each post.

 

This post is for all our live virtual trade ideas and daily comments. Please click on "comments" below to follow our live discussion. All of our current  trades are listed in the spreadsheet below, with entry price (1/2 in and All in), and exit prices (1/3 out, 2/3 out, and All out).

We also indicate our stop, which is most of the time the "5 day moving average". All trades, unless indicated, are front-month ATM options. 

Please feel free to participate in the discussion and ask any questions you might have about this virtual portfolio, by clicking on the "comments" link right below.

To learn more about the swing trading virtual portfolio (strategy, performance, FAQ, etc.), please click here ...



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Biotech

Beyond just promise, CRISPR is delivering in the lab today

Reminder: Pharmboy is available to chat with Members, comments are found below each post.

Beyond just promise, CRISPR is delivering in the lab today

Courtesy of Ian HaydonUniversity of Washington

Precision editing DNA allows for some amazing applications. Ian Haydon, CC BY-ND

There’s a revolution happening in biology, and its name is CRISPR.

CRISPR (pronounced “crisper”) is a powerful technique for editing DNA. It has received an enormous amount of attention in the scientific and popular press, largely based on the promise of what this powerful gene e...



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Kimble Charting Solutions

Brazil; Waterfall in prices starting? Impact U.S.?

Courtesy of Chris Kimble.

Below looks at the Brazil ETF (EWZ) over the last decade. The rally over the past year has it facing a critical level, from a Power of the Pattern perspective.

CLICK ON CHART TO ENLARGE

EWZ is facing dual resistance at (1), while in a 9-year down trend of lower highs and lower lows. The counter trend rally over the past 17-months has it testing key falling resistance. Did the counter trend reflation rally just end at dual resistance???

If EWZ b...



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Mapping The Market

Bombing - Right or Wrong?

Courtesy of Jean-Luc

I am telling you Angel – makes no sense… BTW:

Republicans Love Bombing, But Only When a Republican Does It

By Kevin Drum, Mother Jones

A few days ago I noted that Republican views of the economy changed dramatically when Donald Trump was elected, but Democratic views stayed pretty stable. Apparently Republicans view the economy through a partisan lens but Democrats don't.

Are there other examples of this? Yes indeed. Jeff Stein points to polling data about air strikes against Syria:

Democr...



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Promotions

Free eBook - "My Top Strategies for 2017"

 

 

Here's a free ebook for you to check out! 

Phil has a chapter in a newly-released eBook that we think you’ll enjoy.

In My Top Strategies for 2017, Phil's chapter is Secret Santa’s Inflation Hedges for 2017.

This chapter isn’t about risk or leverage. Phil present a few smart, practical ideas you can use as a hedge against inflation as well as hedging strategies designed to assist you in staying ahead of the markets.

Some other great content in this free eBook includes:

 

·       How 2017 Will Affect Oil, the US Dollar and the European Union

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All About Trends

Mid-Day Update

Reminder: Harlan is available to chat with Members, comments are found below each post.

Click here for the full report.




To learn more, sign up for David's free newsletter and receive the free report from All About Trends - "How To Outperform 90% Of Wall Street With Just $500 A Week." Tell David PSW sent you. - Ilene...

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FeedTheBull - Top Stock market and Finance Sites



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