Cobra's Market View

1 hour opening range, Stuck in the middle again, right at the middle of the overnight price range. In olden days I would have said looks like a boring range day but with news driven market and twitter I dare not say that.

IYT, SMH, and now KRE all gap fill. Not all sectors are strong today.

Talk about going sideways in a narrow range....

Trades with cats wrote:QQQ don't get it, wire service this morning talking about Amazon about to land 10 billion contract with Department of Defense for cloud services, that is their 50% margin bright spot in their business.

boss, have u got a link for that?
I would have thought AMZN would be last on the list, because tweets etc

Open question on yesterday, given today's lack of follow through:
1. Larry Kudlow using an experimental DARPA rainbow gun.
2. breakthrough in trade negotiations, we get someone who knows something from PBOC and they take Mnuchin and a future draft choice.
3. old school short squeeze

Trades with cats wrote:QQQ don't get it, wire service this morning talking about Amazon about to land 10 billion contract with Department of Defense for cloud services, that is their 50% margin bright spot in their business.

I thought the White house was planning to cancel some cloud services with Amazon??

come on come on
we need some HODs here

Random notes:
Sheryl Sandberg is supposed to be live on blmbrg at 3:00 ET
I hear the DAX is up 2.6% today

Giving the Bios a flyer....

Al_Dente wrote:come on come on
we need some HODs here

that would be nice!!

going for 2671.25?

Al_Dente wrote:come on come on
we need some HODs here

$INDU HOD
Other majors are very near

Amazon and DOD- tweet with picture of Bezo's in baseball cap and aviator sunglasses has been pulled. Lots of stuff last 24 hours or more in the media. For example http://thehill.com/policy/technology/38 ... d-contract. Bottom line it is a huge contract. Media says no one else is large enough to do the contract. Amazon claims a 50% margin on cloud services, doubt they will do DoD for free. Waiting for the fat lady to sing on this!

ES now above opening range 60.

Al_Dente wrote:

Al_Dente wrote:come on come on
we need some HODs here

$INDU HOD
Other majors are very near

HOD
SP
smalls
qqq near

Best looking m,ove so far today on my fast tick charts but the overnight high has paused it. My guess is those London/Frankfurt traders lightening up 20 minutes before their close.

Out of the bio trade...

fehro wrote:/ES 15m.. fwiw.. minor H&S … mind a retrace to yellow triangle.. key area… SPX 200d SMA key to the downside.. 20d.50d to the insane upside move.

INDU >20d RUT 3 points shy of 50d USdollar strong.. /CL holds 20d SMA retest mind those 20d/50d .. so close

Trades with cats wrote:Amazon and DOD- tweet with picture of Bezo's in baseball cap and aviator sunglasses has been pulled. Lots of stuff last 24 hours or more in the media. For example http://thehill.com/policy/technology/38 ... d-contract. Bottom line it is a huge contract. Media says no one else is large enough to do the contract. Amazon claims a 50% margin on cloud services, doubt they will do DoD for free. Waiting for the fat lady to sing on this!

Aside from the fact that the DOD shouldn't be putting stuff on the cloud for security reasons (*), they have had they own computers for a long time - why would they bother even outsourcing storage at all with storage so cheap?

I really hate this "OH MY we MUST do the cloud!! It is SO like now."

(*)
Delliote lost all clients info (emails confidential contract details stored on cloud,
Equifax - how does one spell incompetence?

Breakout =2673.25