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    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: MORNING WRAP 21 JANUARY: | ASX to rise | Eco-fibre play Nanollose leads ASX healthcare sector with 292% gain |

    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: AFTERNOON WRAP 20 JANUARY: | ASX hits 11 month high | China shares rise on c.bank’s liquidity boost; EV, healthcare stocks shine |

    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: MORNING WRAP 20 JANUARY: | ASX to rise | 3 cannabis players discuss how to view the sector through a biotech lens |

    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: AFTERNOON WRAP 19 JANUARY: | ASX rises 1pc | US eyes Australian market as cannabis investment fund takes stake in Lifespot Health |

    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: MORNING WRAP 19 JANUARY: | ASX to rise, $A eases amid greenback surge | Battery sector cries out for more graphite as shortfall looms |

    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: AFTERNOON WRAP 18 JANUARY: | ASX sheds 0.8pc | Tietto Minerals appoints COO to drive development of Abujar gold project | China, Hong Kong stocks climb on upbeat GDP data |

    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: MORNING WRAP 18 JANUARY: | ASX to fall, global equities lower | Neuroscientific is researching a potential cure for post-COVID lung damage |

    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: AFTERNOON WRAP 15 JANUARY: | ASX down 0.6pc over the week | Lithium sector springs back to life amid acquisition deals and price rises | China stocks fall as consumer, liquor firms retreat |

    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: MORNING WRAP 15 JANUARY: | ASX to rise | Wall St lifts on Biden stimulus |The potential life-changers on Tolga Kumova’s radar in 2021 |

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    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: MORNING WRAP 21 JANUARY: | ASX to rise | Eco-fibre play Nanollose leads ASX healthcare sector with 292% gain |

    The Cotton Row Journal, week of 18-22 Jan

    Cabrera Capital Daily Game Plan

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    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: AFTERNOON WRAP 20 JANUARY: | ASX hits 11 month high | China shares rise on c.bank’s liquidity boost; EV, healthcare stocks shine |

    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: MORNING WRAP 20 JANUARY: | ASX to rise | 3 cannabis players discuss how to view the sector through a biotech lens |

    Bloomberg Chart of the Day

    Jason Sen: FX

    Cabrera Capital Daily Game Plan

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    GMTT – chart of the day – DAX Index (Germany) – Jan 19, 2021

    GMTT – chart of the day – DAX Index (Germany) – Jan 19, 2021

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    GMTT / Chart of the day / Apple / Oct 27, 2020

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    NASDOG.com: Corn, What Changed Today?

    NASDOG.com: Corn, What Changed Today?

    NASDOG.com: Stocks Getting Serious; Quick Word on Beans

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Much ado about tweeting, but S&P weak into 2014

Danny Riley by Danny Riley
Thursday, November 7, 2013
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Much ado about tweeting, but S&P weak into 2014
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Today is Twitter’s (TWTR:NYSE) big day. When the company raised its public offering price to between $23 and $25, the value of the company jumped to $15.5 billion, and it could end up the largest IPO by an Internet company in the U.S. and the largest IPO since Facebook.

internet IPOs

The S&P (ESZ13:CME) has been up so much one has to wonder what the catalyst could be to knock it back down. We all know that when the taper drums start beating again the S&P will get soft. We also know the debt ceiling and another government shutdown won’t help the bulls’ cause either.

While the market may still be going up now, we don’t expect it to remain that way in the beginning of 2014. Several weeks ago I asked, with the S&P up 26% from this time last year, if the Twitter IPO could mark a short-term top in the markets. With so much expectation built in, what if the stock rallies too much and then sells off on the first day?

The Street has such high expectations it’s not a question of whether the stock go up, it’s will it go up too much? I remember when Google [GOOG] went public and I remember the catastrophe the Nasdaq trading glitch caused during the Facebook [FB] IPO and how the stock sold off. They say the Twitter IPO could fall in between Google and Facebook for the size of the public offering.

[pullquote]The Asian markets closed mostly lower and Europe is mixed. This morning’s economic calendar includes 7 economic release, a 3-, 6- and 52-month note and bond announcement and Jeremy Stein and William Dudley speaking from the Fed.[/pullquote]As you can see by the chart, Twitter’s IPO could come in above the $1.9 billion Google earned. We use Twitter and have nearly 16,000 followers but I am just not sure where the company will be in, say, 10 or 15 years. Will people still be tweeting? Is it a fad or is it for real? Our guess is that after the IPO, the stock sells off and that it will take a full year or more to get a real feeling for the direction of the company. There is an old saying: “When everyone’s buying it’s time to start selling.” Today that saying will be put to the test.

Our view: The markets are going to be preoccupied by Twitter today. We could be 100% wrong, the IPO goes great and the S&P rallies again. The overall price action in the S&P has been “back and filling” and making higher lows and could easily go ripping higher, but it will still have to face Friday’s jobs numbers and we just don’t think the S&P is going to like that very much. Additionally, next week is the November options expiration, so we will also have to be looking for the Pit Bull’s Thursday/Friday low before the expiration. Our view is to buy the early weakness and sell rallies.

As always, keep an eye on the 10-handle rule and please use stops when trading futures and options.

  • In Asia, 8 out of 11 markets closed lower: Shanghai Comp. -0.48%, Hang Seng -0.68%, Nikkei -0.76%.
  • In Europe, 11 of 12 markets are trading higher: DAX +1.30%, FTSE +0.12%.
  • Morning headline: “Twitter IPO to Be Bigger Than Google ”
  • Total volume: 1.32 million ESZ and 6.3k SPZ traded
  • Economic calendar: Chain store sales, Gallup US Payroll to Population, Federal Reserve Gov. Jeremy Stein speech at Chicago Fed’s International Banking Conference on shadow banking, GDP, jobless claims, EIA natural gas report, New York Federal Reserve Bank President William Dudley speech to the Global Economic Policy Forum in New York, consumer credit, Fed balance sheet and money supply

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