Tuesday 28 April 2015

3pm update - minor gains into the close

Most US equity indexes look set for minor net daily gains, with the sp'500 to settle within the 2112/18 zone. USD remains weak, -0.7% in the DXY 96.10s. Metals are holding gains, Gold +$11. Oil is battling to stay positive, +0.3% in the $57s... ahead of the latest API/EIA inventory reports.


sp'60min



USO'60min



Summary

*Oil has been stuck for the better part of two weeks. If the next set of inventory reports come in no higher than 3/4 million barrels.. the likelihood is for a break to the upside.. into the low $60s.

I remain long Oil - via USO, seeking an exit in the 20.50/21.50 zone.
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A pretty mixed day... but overall.. it sure looks like we'll close a little higher. Daily candles are offering a spike-floor in most cases.. which bodes bullish.. ahead of the GDP/FOMC tomorrow.

Indeed.. tomorrow should prove to be pretty interesting.

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notable weakness: AAPL, -1.4%... on what is pretty large vol'. On any basis though.. renewed upside in May looks due.
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3.13pm.. TWTR is seeing some crazy price action ahead of earnings.


Does someone know something?

*I have no position in TWTR (having bailed last week @ $51.95). I was considering going long for earnings.. but on this occasion.. I will refrain.

I'm not in the mood for any extra stress!


3.16pm.. It seems - from Zerohedge... TWTR results have been leaked.... hence the drop...

The rumour.. rev' miss..  EPS 7 cents vs 4.... but market is not happy with it!


3.20pm.. There will be absolute hell if the TWTR reports turn out to be fake! Stock has been whacked around 4%.. losing the key $50 threshold.

If the 'real results' at 4pm come in different... crazy.

*...and partly.. thats why I usually avoid momo stocks.... the hysteria!


3.29pm... woah... TWTR... suspended... ahead of a news release.  -5.8%.. and holding.


3.35pm... Pretty entertaining drama with TWTR... now its a case.. do they bring forward their earnings before the close?