Thursday, 24 July 2014

Closing Brief

US indexes closed with minor mixed chop, sp +0.9pts @ 1987 - with a new intraday high of 1991. The two leaders - Trans/R2K, settled u/c and -0.2% respectively. Near term outlook is bullish into next week.



*earnings due from AMZN

So.. a bit of a choppy day.. but with another new historic high in the sp'500.

I hold moderately long overnight, via the R2K.

*Clown finance TV interview at 5pm EST, Liesman and King O'... the primary topic will be the economy/business.  No doubt the algo-bots will be quietly...listening.

more later.. on the VIX

4.22pm.. AMZN earnings... lousy .. a loss of 27 cents per share....vs. 15 loss .. expected.

It remains a joke of a company, the height of 'crony capitilism', with arguably the worse board of directors in the western world.

Global turnover of $70bn or so, and they still can't turn a profit.

AMZN -5.5%....but.. as often reverses on the day after earnings.