Closing Brief

US equity indexes closed moderately mixed, sp +5pts @ 2114 (intra low 2094). The two leaders - Trans/R2K, settled u/c and +0.5% respectively. Near term outlook remains bullish, with new historic highs due for all indexes. The VIX continues to reflect a market that has virtually no concern of anything.


sp'60min

Summary

... interesting day... not least with the closing hour insane drama in TWTR.
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As for the broader market, minor opening gains.. but a swift washout in the morning.. before what was a rather typical (and expected) latter day recovery.
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Special closing update on TWTR... due.. with charts!


TWTR, 5min

TWTR, daily

So.. the re-listing price was $40.00...  with an initial bounce to the $44s.. settling in the $42s.

There will be high risk of an upside reversal tomorrow.

What am I doing? I'm pretty glad to be a mere onlooker to this momo stock madness. I did like TWTR at $51/50 (having bailed from a long position @ $51.95 last week) and I certainly like it more in the low $40s. For now.. I ain't getting involved.

As for earnings.. EPS of 7 cents... was fine... rev' was light.. and the Q2 outlook was somewhat depressed. Overall though.. I still consider TWTR infinately better than FB.

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more later... on the VIX