Is "STUCK" or STOCK...that's sucks...*

Stuck futures up on hopes stimulus to continue; Tesla stumbles

Reuters – 11 minutes ago

 

By Chuck Mikolajczak

 

NEW YORK (Reuters) - U.S. stock index futures rose on Wednesday on the possibility the Federal Reserve may keep stimulus measures in place longer than anticipated ahead of data key later this week on the labor market and economic growth.

John Williams, president of the San Francisco Federal Reserve Bank, said Tuesday the Fed should wait for stronger evidence of economic momentum before pulling back on its massive bond-buying program, but should then announce a definitive end to the stimulus.

Adding to speculation about a more dovish Fed, two of the Federal Reserve's top staff economists made the case in new research papers for more aggressive action by the U.S. central bank to drive down unemployment by promising to hold interest rates lower for longer.

Many market participants have expected the Fed to hold off on scaling back its $85 billion monthly bond purchases due to expectations that a partial government shutdown in early October has hurt the economy.

The S&P 500 (^GSPC) is up 23.6 percent for the year, putting it on track for its best yearly performance since 2003, boosted in large part by the Fed's stimulus measures.

S&P 500 futures rose 8.8 points and were above fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures gained 67 points and Nasdaq 100 futures added 12.25 points.

Tesla Motors Inc (TSLA) shares slumped 11.1 percent to $157.15 before the opening bell after the electric car maker forecast a weaker-than-expected fourth-quarter profit and posted third-quarter Model S deliveries that disappointed some analysts.

Microsoft Corp (MSFT) edged up 0.6 percent to $36.85 in premarket trading after sources familiar with the matter said the world's largest software maker had narrowed its list of external candidates to replace Chief Executive Steve Ballmer to about five people, including Ford Motor Co (NYS:F) chief Alan Mulally and former Nokia (HEX:NOK1V) CEO Stephen Elop.

As earnings season moves into its tail end, S&P companies expected to report earnings on Wednesday include Qualcomm Inc (QCOM) and Whole Foods Market Inc (WFM).

According to Thomson Reuters data, of 404 companies in the S&P 500 that reported results through Tuesday morning, 69.6 percent beat Wall Street's expectations, above the long-term average of 63 percent. However, just 53.3 percent beat revenue forecasts, below the 61 percent average since 2002.
European shares rose, erasing the previous session's losses, on better-than-expected results. (.EU)

Most Asian markets were little changed amid uncertainty over monetary policy in the United States and Europe, though Japanese stocks rose, thanks to gains in major car makers.


* Just read this column from Yahoo news...

Halloween Market

It's the first day of November, a Halloween day, no idea if the market is conducive to trade or participate today, the way I can see from the market today is quite confusing. Maybe there might be a last 'minute' trade before the close, but I think lots of noise might happen early in the market. Though the indices are on the positive trend as of this posting, the futures are in quandary. We'll see how it goes, will just do net surfing for the day and do some/search other activity/interest for some diversion, sometimes we need to take a break/stay away from the market once in a while. Though it's so hard to be away from the market when you are so 'attached' to it (seems better than having a partner?), especially if you sleep and breath with the market, in bad times and in good times, in losing and in winning, love the market is what you do.

!@#$%^&*(+? Setup For Thursday

With this 15 minute chart from Crude, I don't know ever since I learned trading in '07, no idea if I can trade this s#$%@&*...

Addendum: I think it's for Halloween?

 

A Nice Triangle Setup ('Offense') From Gold

Spotted this pattern from Gold late in the overnight session and was able to capture the main move. As if it was the days of the Chicago Bulls era under Phil Jackson's 'triangle offense'. And it was a slam trade today from Gold. Nice triangle formation!

A Golden Surge From Gold

A very interesting move by the Gold early in the session when it surge vertically as shown from the 15-min chart below. It formed a double bottom as shown from the rectangular box before it burst like a gunfire. If you are late with the sudden strike, you can still catch the half move when it pulled back from the 'u' pattern like area. It was consolidating from the 1310 to 1320 range level the past few days as shown from the 5-hour chart (second below), also a box pattern like. Actually it was a bull flag from my observation, but a long/extended one. Though from my point of observation, it was a very risky 'long' trade but it is a valid one (considering lots of negative comments from some pundits), just with a tight stop. And likewise it was seconded by the positive employment reports.

Don't Get Involved In The Market When He Is Not Acting Well

It's late night and can't get to sleep and wanting to find out or should I say how the market works or how it affects or relates to individual(s). It's just the thought of one of 'those' times that you wonder or give some meaning on your own especially if you've been attached to the market for quite a while and still trying to figure out really how the market 'really...really' works. I made those two words repeatable because when you are involved with the (like you sleep and breath with it) market on a daily basis, it is like a cycle that is always repeating same movement that you can't understand. It is like an insane person or a human being having a Parkinson's disease. And all the participants are trying to understand everything on it and they can't detect nor figure it out how to approach an 'insane' market. Most of all will conclude 'that's how the market is', if the market is not that 'insane', there is no market at all, as some will/would chorused. I might agree with that statement that the market is that 'that' insane, because you cannot really 'understand' the market and will never be. The market is a continuing unpredictable 'animal', that will haunt each and every participants because of its notorious or treacherous moves. I am talking here about in the trader's perspective not through investors insights. Trading the market is such a very delicate endeavor especially if you are not that prepared, and if you are treating trading as a ticket to a cash machine. That's a wrong impression. There are many reasons why we traders fail to understand... is that we cannot just trade and get involved in the market all the time. Especially if he is really...really that crazy, or else we will end up one.

Shutdown 'Short' Trade Setup

As the government shuts down, the market went shut down too. And the best way is to capitalized on it. And this 5-min chart from Gold was a no-brainer 'short' trade. Just press the sell button (upper arrow) and press the buy (cover) button (lower arrow), and on your way for a nice profitable trade. That's why watching and observing the market movement is the best way to participate and gain from it. Patience pays off and it's a virtue!