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Apple Today 3/03/2017 OPEX (AAPL)

seymour_greenz • March 3rd 2017 12:13:07 PM

Good Morning,

S&P Futures are down 4 with -3 Fair Value, NASDAQ Futures are down 11 with -11 Fair Value and Dow Futures are up 7 as we wrap up this first week of March with an appearance from Janet Yellen at 1pm where more details on a March rate increase may come to light, though expectations for an increase are already quite high. If your Amazon package is late... keep in mind that an Amazon employee mistyped a command intended to adjust the S3 billing system and wound up shutting down many more servers than intended, leading to a series of failures that took out S3 among other services.

This morning's Economic Calendar includes: PMI Services Index, ISM Non-Manufacturing Index and Fed's Evans and Lacker at Monetary Policy Forum followed by Baker-Hughes Rig Count, Janet Yellen speech and Stanley Fischer speech this afternoon.

The earnings winner is: Big Lots, Inc. (BIG), up over 5%. On the other hand, Costco Wholesale Corporation (COST) is down over 4%.

Futures were down in early morning, recovered most losses sharply at 5am, peaking just after 6:30am and are off the highs as we approach the open.

Asian markets ended down. China went down 0.36%, Japan dropped 0.49% and Hong Kong led the decline, down 0.79%. European markets are mixed. The UK is down 0.20%, Germany is down 0.34% and France is up 0.52%.

Commodities are mixed this morning. Oil is up 0.40%, natural gas is up 0.75% and gold is down 0.12%. Unleaded gas is up 0.74% and heating oil is up 0.30%. Metals are up except gold. Meats are down. Cocoa, cotton, corn and soybeans are up while coffee and wheat are down.

Global stocks off highs, dollar edges lower as Fed rate rise looms. One bitcoin is now worth more than one ounce of gold. Amazon's $150 million typo.

Autodesk, Inc. (ADSK) reported Q4 results yesterday afternoon with an adjusted loss of 28 cents per share that beat expectations and is down nearly 2.5% in pre-market. Costco Wholesale Corporation (COST) announced Q2 results that missed expectations and is down over 4%.

Revlon, Inc. (REV) reported a Q4 loss this morning with adjusted profit of 43 cents per share and is up nearly 1.5% in pre-market. Big Lots, Inc. (BIG) announced Q4 results with adjusted earnings of $2.26 per share that beat expectations and is up over 5%.

A leading Bullish ADSK swing trade strategy is: When the 17 SMA is Above the 40 DEMA AND the 36 Day Smoothed Stochastics is Bullish, daily bars.

AAPL had a cloudy day yesterday, ending down 0.59% on lower than average volume. AAPL opened up at 140 to high volume and quickly set an intra-day high of 140.27 at 9:32am on high volume before selling off below 140 on strong volume and then drifting downwards for the rest of the day with conviction on low volume until hitting an intra-day low of 138.76 at 3:44pm on moderate volume ahead of the close before bouncing slightly towards 139 into the bell on good volume. AAPL ended the day down 83 cents at 138.96 and gained 4 cents in after-hours to 139.

This morning in pre-market, AAPL opened lower and scraped a pre-market low of 138.55 at 7:50am ahead of OPEX and Yellen. AAPL is currently down 33 cents at 138.63 as we approach the open.

Classic max-pain is 137. Today is OPEX. Have a good weekend with your friends and family.


Global stocks off highs, dollar edges lower as Fed rate rise looms:
http://www.reuters.com/article/global-markets-idUSL5N1GG2DO

One bitcoin is now worth more than one ounce of gold:
https://techcrunch.com/2017/03/02/one-bitcoin-is-now-worth-more-than-one-ounce-of-gold/

Amazon's $150 million typo:
http://www.npr.org/sections/thetwo-way/2017/03/03/518322734/amazon-and-the-150-million-typo

Mexican peso surges after comments from Wilbur Ross:
https://www.bloomberg.com/news/articles/2017-03-03/mexican-peso-could-recover-with-sensible-nafta-deal-ross-says

Costco raising annual membership fee on June 1:
http://www.techtimes.com/articles/200005/20170303/costco-raising-annual-membership-fee-from-june-1-how-does-this-impact-consumers.htm

American bank profits are higher than ever:
http://money.cnn.com/2017/03/03/investing/bank-profits-record-high-dodd-frank/

iPhone 8 to start mass production in September, featuring Apple-custom "built-in" fingerprint sensor:
https://9to5mac.com/2017/03/03/report-iphone-8-to-start-mass-production-in-september-featuring-apple-custom-built-in-fingerprint-sensor/

iPhone 8 to stick with a Lightning connector:
https://www.cnet.com/news/iphone-8-usb-c-or-lightning/

Advanced Micro Devices (AMD) is up 24% since the earnings:
https://www.zacks.com/stock/news/251504/why-is-advanced-micro-amd-up-241-since-the-last-earnings-report

Intel may cut prices in response to AMD's Ryzen 1700, 1700X, and 1800X launch:
https://www.extremetech.com/computing/245275-intel-may-cut-prices-response-amds-ryzen-1700-1700x-1800x-launch

Uber loses legal test case over language:
http://www.bbc.com/news/business-39154428

Nintendo Switch and the unconventional hype for an unusual game console:
https://www.nytimes.com/2017/03/03/technology/nintendo-switch-game-console.html

Would you pay $550 for a credit card?
https://www.bloomberg.com/news/articles/2017-03-03/-550-for-a-credit-card-amex-platinum-battles-chase-sapphire

Can SpaceX launch people around the Moon next year?
http://www.space.com/35884-spacex-moon-mission-2018-feasibility.html

NASA spacecraft avoids collision with Martian moon Phobos:
http://www.space.com/35903-nasa-maven-avoids-mars-moon-collision.html

Mars astronaut radiation shield set for moon mission trial-developer:
http://www.reuters.com/article/us-spacex-mars-israel-idUSKBN16A0ZJ

Ancient skulls give clues to China human history:
http://www.bbc.com/news/science-environment-39118752

Study finds humans cause 84 percent of US wildfires:
http://www.csmonitor.com/Environment/2017/0228/Study-finds-humans-cause-84-percent-of-US-wildfires

Volkswagen pumped enough illegal pollution into Europe's air to cause 1,200 early deaths:
https://qz.com/924118/volkswagen-pumped-enough-illegal-pollution-into-europes-air-to-directly-cause-1200-early-deaths/

This speck of DNA contains a movie, a computer virus, and an Amazon gift card:
https://www.theatlantic.com/science/archive/2017/03/this-speck-of-dna-contains-a-movie-a-computer-virus-and-an-amazon-gift-card/518373/

Sickle cell gene therapy "gives me joy and hope":
http://www.bbc.com/news/world-africa-39153206

Nervous system birth defects 20 times likelier for Zika-hit mothers, study finds:
https://www.theguardian.com/world/2017/mar/02/zika-birth-defects-cdc-central-nervous-system

Artificial embryo shows early potential for medical therapies, not babies:
http://www.cnn.com/2017/03/02/health/artificial-mouse-embryo-stem-cells/

What? Study predicts hearing loss may double in US by 2060:
http://www.upi.com/Health_News/2017/03/03/Study-predicts-hearing-loss-may-double-in-US-by-2060/9161488548273/

Exercise and psych therapy best for cancer-related fatigue:
http://www.medscape.com/viewarticle/876518

Was it good for computer?
https://www.cnet.com/news/icon-smart-condom-ring/


Today's Economic Calendar:
9:45 PMI Services Index
10:00 ISM Non-Manufacturing Index
10:15 Fed's Evans and Lacker at Monetary Policy Forum
1:00 PM Baker-Hughes Rig Count
1:00 PM Janet Yellen speech
1:00 PM Stanley Fischer speech


Notable earnings this afternoon after the bell: ARNA, EDAP, EVAR, TTPH

And on Monday before the open: AFI, CVGW, COE, DGLY, DXYN, DVAX, FRP, IMN, IFMI, JGWE, LOAN, MRNS, MVIS, ONCS, PLUG, SOL, SCLN, SCYX, TST, TISA, WLB

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