Latest News: Technology |  Celebrity |  Movies |  Apple |  Cars |  Business |  Sports |  TV Shows |  Geek

Trending

Filed under: News

 

Facebook Flying As Santa Claus Visits Wall Street

Dec 24 2013, 10:06am CST | by

10 Updates
Facebook Flying As Santa Claus Visits Wall Street
Photo Credit: Forbes
 
 

Comments

Full Story

Facebook Flying As Santa Claus Visits Wall Street

It looks like Santa Claus is coming to town. On this shortened Christmas Eve session, Europe is now on Day #5 of its rally, but a tiny bit off session highs. The Nikkei hits another six-year high but fails to hold. Fears are subsiding a little bit in China about their “liquidity crunch” as the PBOC injects $4.8 billion into the system, but the FXI might need more time to sort through these issues in 2014.

The S&P 500 is up 0.20% after U.S. markets closed at another all-time high yesterday.

In today’s Morning Call we go over the action in high beta tech.

Apple (AAPL) had a nice gap and go yesterday to register almost 4% gains after the China Mobile deal finally got done. Now, the longer it holds above today’s gap, with $562ish being the level to trade against, the higher the probability we could go after $575 highs. A close above that and $594 could be in the cards.

Google (GOOG) also had a nice gap-and-go after making a new all-time high on Friday. It looks a bit extended, so some digestion would be healthy. There is no current buy set-up, that was at $1017 or $1072 or even $1092 – not here north of $1115.

Amazon (AMZN) had a nice inside day yesterday to digest the breakout to new highs on Friday. Basing above $396-399 would keep its momentum intact. Above $404.72 and it could make another push, but take some care up here.

Netflix (NFLX) is inching higher above its 8-day EMA. The stock also had a nice move up yesterday and closed above prior resistance of $379.80. You could look for potential upside momentum above yesterday’s high, but it’s not very compelling.

Tesla (TSLA) has been a bit spotty lately but the Model S did get its 5-star safety rating approved. The stock is gapping up more than 4% above $149 on the news and could potentially squeeze further.

Some recent Leaders we went over had nice moves but are now hard to buy (but that doesn’t mean they’re blind shorts).

3-D Systems (DDD) had nice overnight gains to put in a new high at $91 yesterday. After a big three-day move, it’s hard to buy up here. Use yesterday’s high of $91 as the new pivot to trade around. The technical buy zone was $82.65.

Twitter (TWTR) continued its quest for new highs as the stock put in a big green candle and closed on highs yesterday. After a 7.5% gain, some digestion would be nice. There have been lots of nice buyable strategies at $42 then $50.39 and even through $60.30. Now it’s more difficult .

After basing above its 8-day EMA, Facebook (FB) also posted impressive gains yesterday of 4.8% to put in a new high at $58.32. Use this pivot high as the new point of reference to trade around. This is not a spot to get heavy as those tactical entries already triggered. The stock is up another 2% today.

Goldman Sachs (GS) tacked on another 0.75% to close on new 52-week highs yesterday. It’s a bit extended from short-term moving averages. Compared to the momentum we’ve seen in some tech stocks it’s been a slow trade, but a nice one since $170ish.

At this point there isn’t a whole lot to do, in my opinion. If you have a macro plan stick to it. If you were looking for opportunities, there have been plenty of them since the powerful reversal on Fed Day last Wednesday. Over the next few sessions could see some continuation but it can also be tricky. I’d take it slow and enjoy the holiday.

HAPPY HOLIDAYS! I thank all of you for your contribution to my network and my life. Community has strength in numbers – I’m excited that ours is still growing strong.

/>/>

*DISCLOSURES: Scott Redler is long AAPL, GS, BAC, C, GE, FXI calls. Short SPY.

Source: Forbes

 

iPad Air Giveaway. Win a free iPad Air.

You Might Also Like

Updates


Sponsored Update

Update: 10

4 Firms In Iskandar Malaysia Get Facilitation Fund Totalling RM16.2 Million

Source: Malaysia Today

(Bernama) – Four companies have received the facilitation fund amounting to RM16.2 million from TERAJU@Iskandar Malaysia in an information sharing programme on business opportunities and assist ...
Source: Malaysia Today   Full article at: Malaysia Today 6 days ago, 7:42am CDT
 


Advertisement


Update: 9

Selangor’s Watergate about to explode

Source: Malaysia Today

Anwar brought Wan Azmi to meet Khalid to try to resolve this matter. Anwar supports the RM2.5 billion claim but Khalid is stubbornly sticking to the figure of RM250 million.... RE ...
Source: Malaysia Today   Full article at: Malaysia Today Jul 23 2014, 4:12am CDT
 

More From the Web

Update: 8

GLCs told to provide RM7 billion to develop Bumiputera firms

Source: Malaysia Today

(The Malaysian Insider) – Putrajaya has directed government-linked companies (GLC) to generate RM7 billion in business opportunities for Bumiputera firms this year, Prime Minister Prime Minister Datuk Seri Najib ...
Source: Malaysia Today   Full article at: Malaysia Today Jul 17 2014, 2:05am CDT
 

Update: 7

Rafizi shows proof of Putrajaya’s hand in contentious carpet-trader loan

Source: Malaysia Today

Eileen Ng, The Malaysian Insider PKR lawmaker Rafizi Ramli today revealed documents to prove Putrajaya interfered in the RM32 million Bank Rakyat loan to ‎controversial businessman Deepak Jai ...
Source: Malaysia Today   Full article at: Malaysia Today Jul 16 2014, 2:16am CDT
 

Update: 6

PAS MP claims Bank Rakyat loaned carpet-trader RM215m, interest free

Source: Malaysia Today

(Malay Mail Online) – Controversial businessman Deepak Jaikishan (pic) was given a whopping RM215 million interest-free loan from state-owned Bank Rakyat, a PAS lawmaker alleged today, despite Putraj ...
Source: Malaysia Today   Full article at: Malaysia Today Jul 14 2014, 5:52am CDT
 

Update: 5

MRCB, Nusa Gapurna and PKNS settle suit over RM3 billion PJ Sentral project

Source: Malaysia Today

(The Malaysian Insider) – Malaysian Resources Corp Bhd (MRCB), Nusa Gapurna Development Sdn Bhd (NGD) and PKNS Holdings Sdn Bhd have reached an out-of-court settlement over the ownership of ...
Source: Malaysia Today   Full article at: Malaysia Today Jun 21 2014, 2:53am CDT
 

Update: 4

Story behind Syed Mokhtar’s ‘RM2.25 billion tax-exempt’ Bernas deal revealed, says PKR MP

Source: Malaysia Today

(The Malaysian Insider) – An innocuous written reply in Parliament has provided a peek into the cosy relationship between the Najib administration and Malaysia’s best-known busines ...
Source: Malaysia Today   Full article at: Malaysia Today Jun 15 2014, 12:56pm CDT
 

Update: 3

Constitutional monarchy still murky concept

Source: Malaysia Today

After the RM4.5 billion land sale, the Sultan of Johor secured a 15% stake in MOL Access Portal (MOL) for RM396 million and took a 20% stake in Berjaya Times... READ MOR ...
Source: Malaysia Today   Full article at: Malaysia Today Jun 14 2014, 12:37am CDT
 

Update: 2

Sultan of Johor’s RM4.5 bil backlash?

Source: Malaysia Today

Has Sultan Ibrahim of Johor’s succession of big money deals over the last six months caused the tide of public opinion to turn against Johor’s royal palace? ...
Source: Malaysia Today   Full article at: Malaysia Today Jun 11 2014, 8:49am CDT
 

Update: 1

Putrajaya denies carpet dealer given interest-free loan

Source: Malaysia Today

Eileen Ng, The Malaysian Insider Putrajaya today refuted allegations that Bank Rakyat had allowed carpet dealer Deepak Jaikishan to repay a RM32 million loan without interest following intervention from a... READ MORE ...
Source: Malaysia Today   Full article at: Malaysia Today Jun 11 2014, 5:44am CDT
 

Shopping Deals

 
 
 

<a href="/latest_stories/all/all/31" rel="author">Forbes</a>
Forbes is among the most trusted resources for the world's business and investment leaders, providing them the uncompromising commentary, concise analysis, relevant tools and real-time reporting they need to succeed at work, profit from investing and have fun with the rewards of winning.

 

 

Comments

blog comments powered by Disqus

Latest stories

Sharknado 2: The Second One Premieres Tonight
Sharknado 2: The Second One Premieres Tonight
Sharknado 2's about to strike Manhattan, New York City. Find out how to survive SyFy's latest monster movie.
 
 
Jadeveon Clowney Aces Jim Washburn's Drill
Jadeveon Clowney Aces Jim Washburn's Drill
Houston Texans rookie linebacker Jadeveon Clowney is just the second player to ace defensive line coach Jim Washburn's drill for evaluating pass rushers.
 
 
Master of Craft Game Review
Master of Craft Game Review
A brand new role-playing game (RPG), Master of Craft (MoC) is fully rendered in 3D. Avid fans and lovers of RPGs enjoy its unique economy where they are allowed to craft and produce their own armors and weapons. Moreover, players can also operate their market and experience to be a merchant and run their own town. The objective of the game is to build a large empire of buildings and focuses solely on crafting armors and weapons.
 
 
Liam Neeson and Natasha Richardson&#039;s Final Moments
Liam Neeson and Natasha Richardson's Final Moments
Liam Neeson's opening up about the couple's final moments before taking Natasha Richardson off life support.
 
 
 

About the Geek Mind

The “geek mind” is concerned with more than just the latest iPhone rumors, or which company will win the gaming console wars. I4U is concerned with more than just the latest photo shoot or other celebrity gossip.

The “geek mind” is concerned with life, in all its different forms and facets. The geek mind wants to know about societal and financial issues, both abroad and at home. If a Fortune 500 decides to raise their minimum wage, or any high priority news, the geek mind wants to know. The geek mind wants to know the top teams in the National Football League, or who’s likely to win the NBA Finals this coming year. The geek mind wants to know who the hottest new models are, or whether the newest blockbuster movie is worth seeing. The geek mind wants to know. The geek mind wants—needs—knowledge.

Read more about The Geek Mind.