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After-Hours Tech Wreck -- bulls give up hard-fought gains


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#1 dTraderB

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Posted 25 October 2018 - 04:39 PM

A great trading day as the markets went up almost vertically with shallow intraday pullbacks, and then dropped like a stone during the last hour and thenagain in the after-hours session. 

S&P Futires dropped from an intraday high of 2723 to 2681 -  almost 2% 

NQ Futures dropped from an intraday high of 7074 to 6887 - just over 2.5%

 

See here for snapshot of an after-hours screen 

 

https://money.cnn.com/data/afterhours/


Edited by dTraderB, 25 October 2018 - 04:40 PM.


#2 dTraderB

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Posted 25 October 2018 - 04:43 PM

Amazon shares fell as much as 9 percent in after-hours trading after the company released a mixed third-quarter earnings report. The tech giant reported earnings of $5.75 per share, much higher than the $3.14 per share analysts expected. However, the company missed on revenue, reporting $56.58 billion compared to the Street's $57.10 billion estimate.

Amazon also gave weak revenue guidance for the fourth quarter, which includes the crucial holiday shopping season. The company expects revenue between $66.5 billion and $72.5 billion, while analysts estimated $73.89 billion.

 

Alphabet stock fell nearly 5 percent in the extended session after the company released a quarterly earnings report that missed revenue expectations. Google's parent company reported earnings of $13.06 per share, while Wall Street expected $10.42 per share. 

 

https://www.cnbc.com...l-and-more.html



#3 dTraderB

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Posted 25 October 2018 - 04:48 PM

The Wall Street analyst who called this stock-market rout sees another nasty drop for the S&P 500

There is more pain in the pain trade ahead.

That is according to Michael Wilson, Morgan Stanley’s chief U.S. equity strategist, who said, during an interview on CNBC midday Thursday, that a current market rebound belies a market that is badly damaged and ready to sink further.

Wilson describes current conditions as a “rolling bear market,” which began in February, and predicted that the S&P 500 index SPX, +1.86% could fall to between 2,450 and 2,500. That represents a roughly 8% to 10% drop from the broad-market benchmark’s current levels. “And we think we get their in four to eight weeks,” Wilson said.

https://www.marketwa...-500-2018-10-25



#4 dTraderB

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Posted 25 October 2018 - 04:50 PM

“The key levels we look for internally once again failed to exhibit themselves in a meaningful way Wednesday. At this stage the market’s decline looks like a measured move, which would imply another 4% to‐5% downside, zeroing in on the lows from the correction earlier this year,” said technician Jeff deGraaf, chairman of Renaissance Macro Research, in a Thursday note.

 

https://www.marketwa...arns-2018-10-25



#5 dTraderB

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Posted 26 October 2018 - 05:44 AM

VIX has spiked to October 2018 high

 

3 NQ trades so far this morning.... early bird catches you know what 



#6 dTraderB

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Posted 26 October 2018 - 07:36 AM

Economy on fire!  

 

The US economy grew at a 3.5% pace in the third quarter, faster than expected

 

https://www.cnbc.com...ic-product.html



#7 dTraderB

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Posted 26 October 2018 - 07:37 AM

Nice pop, S&P Futures 16 points from low!



#8 dTraderB

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Posted 26 October 2018 - 08:11 AM

OK, that was the GDP pop, now let me try to ride this down another leg, unless the bulls can save the day....



#9 dTraderB

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Posted 26 October 2018 - 08:13 AM

I hold no QQQ options! sad... but needed to focus on NQ and VXX

 

But, I will buy QQQ calls today....real slippery that market, but will put in wildly optimistic limit orders and then fine tune it as the day goes on... or even a buy stop QQQ Call order, JAN 2019 strike, nothing before that! I am willing to pay more ...



#10 dTraderB

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Posted 26 October 2018 - 08:51 AM

85-point NQ long trade