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.


sp'60min


Summary

*earnings due from AMZN
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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.
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*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.
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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 ever...it often reverses on the day after earnings.