12/01/2016 Live Update

[daytradingES]

33.6
3
100.8
1.2
1.2%


sounds nice but 1.2% (if they don't cheat) could be taken by shale and Iran?

do you know what the increases coming on would be TOC?

[Al_Dente]

NY advancing stocks = 0.9 x declining stocks (roughly 1-to-1 flat, chop at the moment)
NY advancing volume = 1.7 x declining volume
Wild guess that the volume is going into anything oil

[Trades with cats]

Oil, the only time horizon for me is from now to July, the peak of summer demand. US shale is only drilling in the sweet spot, so expecting them to recover almost a 10% drop in production in a few months just isn't likely. Same deal with Iran and Iraq as both have to invest big time to expand production. Saudi end game has to be supporting the sale of ARAMCO so if I am guessing wrong and the shale guys pull a miracle I think Saudi will just cut more. After the deal for ARAMCO goes through and they have a mountain of cash all bets are off. Longer term, yes this is a bandaid on a spurting chest wound. But for now hope trumps reality. I do guarantee that after all the retail has bought their full the trading houses will time news articles on cheating with especially large inventory builds because after all that is how oil trades.

Also as Economaters pointed out in his video yesterday the shale guys have sold a lot of oil at 50 to 55. If it hits 70 this July (60 last year) that is a lot of lost revenue. I am guessing at some point those with the available credit will be buying back those contracts. If they are skillful it could make for some very sharp recoveries from any sell offs. I am thinking this is going to be a wild ride. And with the bond market the way it is I think a chunk of money is headed for the oil rollercoaster.

[fehro]

NDX <20w/50d/20d ugly.. COMPQ nears 50d/20d

[fehro]

SPX still looking for the previous ATH retest 2193ish

come to papa.. . possible support near here

almost there..

[Daniel]

Recent winners Transports (esp Rails), Industrials and Banks continue strong... QQQ continues weak, now probing just below the Oct low.

Staples and Utes also very weak. Homebuilders are fading.

Market is still showing very sector-specific behavior.

[fehro]

FB loosing friends fast

[fehro]

SPX still looking for the previous ATH retest 2193ish

ding ding … finally cover more shorts here.. small piece to run

[Al_Dente]

Favored by PEOTUS
Smalls lead down… not a good sign...
https://stockcharts.com/freecharts/cand ... YT,UUP|M|0

[Al_Dente]

CAT Halted, News pending
?

[Trades with cats]

Cat guides down earnings estimates.

[Al_Dente]

CAT reopens

[uempel]

Daily SPX, today's low was twice an intraday high last August ...

[Al_Dente]

CAT was part of that “Make America White Again” campaign.
Good for industrials, keep jobs here, big boom, everyone buys tractors and heavy construction stuff…

CAT 8-K filing Shows Company Believes FY17 EPS Of $3.25 on $38B Of Sales And Rev. Too Optimistic Considering Expected Headwinds
(Analysts Had Been Expecting $CATFY17 EPS $3.25 on Sales of $38.13B).

[Daniel]

XLF, KRE, XBD, FXI fresh hod

[fehro]

SPX bouncey bounce.. VIX holding support

[fehro]

TRANSports nHOW .. as NDX/COMP takes out 2 weeks of gains.. and pressing those lows

[Al_Dente]

where is OOB ?

[uempel]

BPs: all quite weak except BPNYA which is up 0.25% and of course BPENER which is up more than 3 % at the moment ... Refusal of BPNYA to turn down should caution anybody who wants to aggressively play the downside ...

http://stockcharts.com/freecharts/candl ... ,$BPENER|B|

[uempel]

where is OOB ?

Al, his name implies where he is ...