digits and never forget
tyb
Morning Market Report
Nice start to the week-equity wise-considering the news cycle this morning. We are likely to see flat markets leading up to thursday when the ECB spews on it's rate decision. That does not mean the guts will be inactive though.
Nasdaq is the best performer so far. Likely seeing some shorts covering to add to this.
Watching the 10-year T note, CME fed watch odds, gold, silver, oil, what passes for 'earnings' reports now- Pepe on it.
Please watch for Silver today, and going forward as it is at muti-year highs: gold too. Last night the 'last' prices were below the actual bid (sale) price offered by half a cent.
This usually portends a paper tsunami as the Silver miner ETF's all dropped quite a bit on friday-another tell that system is gearing up for a massive paper drop.
This has been a trend for MANY yrs so do tread carefully here. It had a decent size dop (about .50 cents on COMEX silver on friday but I don't think they are done with it).
Both gold and silver are stable at present. $1426.xx and $16.4x
The big banks out of the way we start to get into the 'meat' of earnings season. Plenty of second-tier and regional banks today, and TD ameritrade. The latter should show the health
of the retail trading arena. Revenue derived by commissions will probably be down quite a bit.
Blackstone Mortgage Trust-BXMT, comes out tomorrow (the one where Blackstone group itself was buying shares on open market)- Epstein property diggers take note! you may find some things in here
Will do the Blackstone Group 10-Q when it comes out though.
Google comes on Wednesday-probably another large hole like last qtr ($18b in the goodwill 'bucket' 10-Q analysis Q1). Amazon is also released on that day too.
They did not book the black money as ad revenue like Facebook, Twatter and several others. Link to daily earnigs releases:https://www.bloomberg.com/markets/earnings-calendar/us
Halliburton: beat analysts’ estimates for second-quarter profit, as higher international demand for its oilfield services cushioned weakness in North America, its largest market.
Demand for services like drilling and pumping has also been hit by weak oil prices late last year and pipeline constraints in the Permian Basin, the biggest shale play in the United States and home to a majority of the oil rigs.
Halliburton’s revenue from international markets jumped more than 12% to $2.60 billion, while revenue from North America fell 13.2% to $3.33 billion.
It took pre-tax impairments and other charges of $247 million….."other charges"…Excluding one-time items, the company earned .35 cents per share, estimates were at .30 cents.-muh "other" charges.
It's up about 1.5% in opening action. Morgan Stanley is also out pimping Apple leading up to it's earnings release too. That comes on July 30th which gives it plenty of time to run up the equity.
Mebby they can pull an Epstein and ditch it the day BEFORE earnings come out like the brunswick(Q3, 2017 earnings release trade entered in on September 11th -no shit really!) example from last night.
BTW the only equity he held for moar than a few days (44 to be exact) and it was sold the day before earnings and then brunswick shit the bed. His examples show an average trader at best-certainly not one one considered a 'financial wizard'.
That is not an unknown strategy(done it many times as it is using the system to your advantage) however that was the ONLY example of that (extended hold) in the 1099 examples dropped last night-incidentally those were dropped 2 week ago and passed right over then as well as the Gratitude information.
The system likes to run equity's up prior to earnings releases and many can take advantage of that trend- so it's not unheard of to do so. But it is the only example in that window, late summer, early fall 2017.
They already know the results several weeks prior to qtr closing so if they know it's going to be bad or miss estimates they "create" space for it to drop in to on the release.
Part 1/2 and sauce for all in part 2
Part 2/2
In bankruptcy news we have this headline: Philly Oil Refinery Files For 2nd Bankruptcy In 2 Years After Massive Fire.
Philadelphia Energy Files for Chapter 11
Philadelphia Energy Solutions LLC filed for bankruptcy protection as the fuel-making company grapples with the aftermath of a June explosion and fire at its oil refinery that forced it to shut operations.
The company has submitted Chapter 11 petitions at the U.S. Bankruptcy Court for the District of Delaware, according to new filings at the court.
It will be the company’s second trip to bankruptcy court in less than two years, after emerging from Chapter 11 in August 2018. Estimated liabilities are as high as $10 billion, according to the filings.
https://www.rigzone.com/news/wire/philadelphia_energy_files_for_chapter_11-22-jul-2019-159362-article/
of course!!!!
A couple of analysts raised expectations for Amazon days before earnings
Deutsche Bank analyst Lloyd Walmsley raised his 12-month price target on Amazon to $2,515 per share from $2,315, implying an upside of 28%.
KeyBanc Capital Markets analyst Edward Yruma also raised his price target to $2,200 per share from $2,100, implying an upside of nearly 7% from Friday’s close.
Amazon is scheduled to report quarterly results on Thursday.
https://www.cnbc.com/2019/07/22/a-couple-of-analysts-raised-expectations-for-amazon-days-before-earnings.html
Some Economic data out this morning too. Chicago Fed National Activity Index (CFNAI) and it has improved…just, but still showing the trend from June. A slight contraction (overall trend) as anything under O is defined as contraction-even though it went from -.03 to -.02.
The index’s three-month moving average, CFNAI-MA3, ticked up to –0.26 in June from –0.27 in May. So not a whopper of a report but slow steady improvement.
This suggests economic activity was below the historical trend in June. Ty calculated risk for the factual grabs.
Speaking of data and key events..please check this out from ZH as it is a good summary of World-Wide financial activity and data release tha is relevant to this week. Plus Mueller testimony on Of note Super Mario will be bloviating on Thursday regarding ECB policy with regards to rates-look for them to address the
Deutsche Bank situation and it would not surprise me one bit if they popped out some three-letter acronym facility to start buying up those shitty assets. Blackrock's Larry Fink already floated that trial balloon over the weekend suggesting they "have to buy assets".
Translation= hurry up fucker we are drowning in this shit and need a bailout soon. Margin call "lawrence" you POS.
Key Events In This Extremely Busy Week: Draghi, BoJo, Mueller And Lots Of Earnings
highlighting Weds here: Wednesday: The July flash PMIs in Japan, Europe and the US will be the main data focus. Away from that July confidence indicators are due in France, June M3 money supply data due for the Euro Area and June new home sales data due in the US.
Earnings highlights include Boeing, Caterpillar, Ford, Facebook and AT&T. Former Special Counsel Mueller will testify before the House Judiciary and Intelligence committees on Russian election interference.
https://www.zerohedge.com/news/2019-07-22/key-events-extremely-busy-week-draghi-bojo-mueller-and-lots-earnings?
plus factual grabs from various fin related outlets.
https://finance.yahoo.com/quote/%5EIXIC?p=^IXIC
https://www.dailyfx.com/crude-oil
https://www.cmegroup.com/trading/interest-rates/countdown-to-fomc.html/
https://www.marketwatch.com/investing/bond/tmubmusd10y?countrycode=bx
>Whatever happened to Bezos's old Latina girlfriend….