The NASDAQ futures drifted higher over night on low volume ahead of the jobs report at 8:30am. The initial reaction to the jobs report was a move higher. The report itself was mediocre-to-decent news thus an initial positive reaction is good, but not of the strongest conviction. The strongest conviction would be a positive reaction to a bad employment report. The strength was quickly faded by a strong bit of sell flow. It looks like the opening may be interesting today.
The long term time auction is buyer controlled. This can be seen as a series of higher highs and lows on the a daily chart of the NASDAQ composite. If sellers can succeed over the next few days at printing a lower high verses March, we will likely see the long term auction transition into a balanced state.
The intermediate term auction is in balance. Overhead supply came into effect yesterday morning and the resulting trading day was a press lower. The action probed prices back to the midpoint of this intermediate term balance where my expectation was to find buying. I will be watching the price action around 3632.75 for an early directional bias on the day. I have highlighted this level and a few other observations on the following volume profile chart:
The short term auction is very indecisive but I would call it a semblance of balance. Value is roaming somewhat aimlessly. We have a strong developed profile overhead which price rejected away from yesterday and since then we have been inching back upward toward the reference zone. I have highlighted this key upside profile as well as a few other observations on the following market profile chart:
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no bueno
taking first few lots off Transocean here:
Status Filled at $41.96
Symbol RIG
Description TRANSOCEAN LIMITED COM CHF15
Action Sell
Quantity 500 Shares
Trade Type Cash
Market Session Standard
Order Date 04/04/2014, 10:28:54 AM ET
04/04/2014 10:28:57 AM $41.96 51.000 $2,139.91
04/04/2014 10:28:57 AM $41.96 400.000 $16,783.62
04/04/2014 10:29:15 AM $41.96 49.000 $2,055.99
NET TOTAL 500.000 $20,979.52
*continue to hold (below 40 lots)
and plan to add back share if given the opportunity…yup
RVLT is holding the 3 level..thinking of avg up here..
f/d long cost avg $2.50..I’ll keep you posted.
Also.. cost avg up off those 23’s right here(1/3 add back)
Status Filled at $56.93
Symbol FB
Description FACEBOOK INC COM USD0.000006 CL A
Action Buy
Trade Type Cash
Market Session Standard
Order Date 04/04/2014, 12:07:23 PM ET
http://youtu.be/Fi9srqFqCFo
also selling some TZA
Acquired 03/04/2014(not certain if I posted that entry?) crazy that it’s not up higher..inverse nonsesnse?
Status Filled at $16.31
Symbol TZA
Description DIREXION SHS ETF TR DAILY SMALL CAP BEAR 3X SHS NEW
Action Sell
Trade Type Cash
Market Session Standard
Order Date 04/04/2014, 01:09:01 PM ET
*will continue to hold small position Price: $14.3599
Status Filled at $3.02
Symbol RVLT
Description REVOLUTION LTG TECHNOLOGIES INC COM
Action Buy
RVLT doesn’t rip until Sooz is on the bid
Thought $OESX was going to test 8
or was it 6