Call me crazy.
Actually, they're all "pump & dump" schemes thanks to the Fed... In fact, maybe its finally time to eschew interest rate-pegging and ZIRP entirely, and thereby allow financial markets to once again engage in honest price discovery and two-way trading; and to allow the natural business cycle to meander along its own capitalist path as determined not by the 12 members of the monetary politburo (aka Fed), but the +300 million consumers, producers, investors, entrepreneurs and yes even speculators who comprise the real main street economy.
Don't worry about it... Just buy a 1MM shares of I IN THE SKY INC. IPO when it goes public and watch it go from 3 cents to over $50 in less then a week. Like Yellen said, "She sees NO bubbles in this market." Which is why companies like CYNK deserve their $$$billion valuations even though they have NO revenue, NO assets, NO product, and in CYNK case ONE employee - who btw just happens to also be the CEO, CFO & Janitor.
Apparently all it takes is a lawyer (which undoubtedly accounts for the $25,000 in "professional" expenses contributing to their NOL).
I just couldn't resist…this thing is a fraud! CYNK Technology Corp, the so-called social media development company now has a market capitalization in excess of $6 billion, or 1/3 the value of TWTR and greater than Cablevision & Jabil Circuit. Now that insane! Because according to the company’s official filings, the company has ONE employee, NO website, NO revenue, NO product, and NO assets!
Anyhow, and for the record…I shorted 7000 shares today of this POS between 20 & 21!
Sorry Poles, I didn’t see your post earlier… Anyhow, to answer your question I would have to say that judging from the chart alone CME will IMHO break through its 50DMA @ the 70.28 support level next week. And if it does I see it retesting the 68 level as well—66 (its mid-April low) in a worst case scenario.
Whether the catalyst for doing so ends up being further weakness in ICE’s PPS or an overall market reversal, I wouldn’t be able to tell you at this point—though my nonscientific, none TA, gut instinct tells me to not be surprised if we see some sort of further market pullback from today’s level… Possibly even one that ends up retesting support levels around the 50DMA @ around 16,662. But we’ll see… In the meantime have a great weekend and may all your trades be profitable ones.
Ahhhaa63, Poles is correct...the 184 level is what you should be watching and not 188. Though, I have to admit a close around 185 will peek my interest as well. GL either way and have a great weekend.
Poles, I think it's that so-call "hero-the-zero" guy (ahhhaa63's nemeses) b/c he/she only started posting after ahhhaa63 posted he was shorting ICE. I could be wrong, but then again whoever it is...it's obvious they're making this stuff up.
Twitter is still unprofitable and needs a home run to fulfill the large expectations priced into the stock, which I doubt will happen... Right now Twitter's user base is still contrasting and a shift to mobile will hurt Twitter's revenue stream.
Furthermore, I suspect that the recent WS upgrades are an attempt to run up the stock to around the $43-45 range so the banks can get their large clients out prior to earnings on July 21st.
Anyhow, anyone else care to weigh in?
Be careful with this one, charts are now sawing a spinning top formation forming following its recent defined downtrend which usually suggests that the sellers are losing conviction and that a bottom may be in. Right now and absent the markets rolling over ICE has decent support at this level (188 range), which is why I said earlier that I need to see a close under 185 on decent to strong volume for me to be convinced that ICE will gap down further... Right now the charts still saw ICE trapped in a trading range between 188 (low) and (194) high. Possibly 200 if market breaks over 17000.
At least you weren't short TWTR... Up +6% today after Evercore Partners reiterated an "overweight" rating and $48 price target on the company.
Same here Poles, the 188 level is key as far as ICE is concerned... And I wouldn't worry too much about aahhaa63, I'm sure he hedged that short trade.