sp'daily5
Summary
First soft target for the equity bears is the Friday close of 2079. After yesterdays gains, a break below that looks out of range today.
It is notable that any negative close today will keep the door open to a sig' break lower this Thurs/Friday. Naturally, it would likely be the Friday... with the jobs data.
A retrace IS due, but those hoping for anything more are surely going to be very disappointed by year end.
--
Corp' news. Activision (ATVI) purchase the makers of Candy Crush (KING). This is perhaps the dumbest deal I've seen in some years.
KING, daily
ATVI have paid almost $6bn ($18 a share) for a company that is worth arguably.....nothing. I can only imagine the CEO/board of ATVI are lost for ideas.. and thus went for the old 'lets go buy a company' strategy.
ATVI, daily
This purchase will likely come to haunt ATVI within a few years. At least EA weren't stupid enough to do such a thing.
--
Update from a typically loud Mr C.
--
Have a good Tuesday
-
*awaiting Factory Orders data (10am)