9:10am (EST)
Futures are pointing towards a higher open this morning following yesterday’s selloff. The Dow ended Thursday with a 132 point drop and settled at 10,308 while the S&P 500 fell 13 and finished at 1,096.
Today is a quadruple witching day which means contracts for stock index futures, stock index options, stock options and single stock futures all expire today. It is what is known as “Quadruple Witching” day on Wall Street and it can be extreme volatility depending on the current market environment.
We mentioned yesterday that we expected the market to power higher today but given the lack of volatility over the past couple of months, we don’t believe we that will be the case today.
We had a number of companies report earnings after the bell last night and Wall Street seems to like what they heard. Research In Motion (RIMM, $63.46, down $1.21) is over $70 in pre-market trading after reporting strong earnings that beat analysts’ expectations. The company reported earnings of $1.10 a share versus estimates of $1.04. Revenue came in at $3.92 billion which was ahead of the $3.78 billion the Street was calling for.
Oracle (ORCL, $22.88, down $0.24) also came in with better-than-expected results while Palm (PALM, $11.72, up $0.11) however, reported a wider loss than expected as their smart-phone sales declined. Palm is back below $11 in pre-market trading.
Elsewhere, Celgene (CELG, $50.62, down $1.16) is up 9% in early trading to $55 after a late-stage study show its drug, Revlimid, significantly slowed the progression of sickness in patients following a type of stem cell treatment.
We have much more to talk about this morning in the Members Area so let’s get to it. As we head to press, the Dow futures are up 22 points.
Tags: call option trading, Celgene, chicken option trades, Covered Calls, momentum stock option trading, option trade picks, option trading online, options blog, options mentoring, options newsletters, options track record, oracle, Palm, put option trading, Research in Motion, Rick Rouse, stock option trade pick service, straddle option trades, strangle option trades, support and resistance levels, triple-digit option trades
This entry was posted
on Friday, December 18th, 2009 at 9:14 AM and is filed under Company Commentary, Earnings, Hot Stocks.
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Both comments and pings are currently closed.
RIMM Rocks, Palm Rolls
9:10am (EST)
Futures are pointing towards a higher open this morning following yesterday’s selloff. The Dow ended Thursday with a 132 point drop and settled at 10,308 while the S&P 500 fell 13 and finished at 1,096.
Today is a quadruple witching day which means contracts for stock index futures, stock index options, stock options and single stock futures all expire today. It is what is known as “Quadruple Witching” day on Wall Street and it can be extreme volatility depending on the current market environment.
We mentioned yesterday that we expected the market to power higher today but given the lack of volatility over the past couple of months, we don’t believe we that will be the case today.
We had a number of companies report earnings after the bell last night and Wall Street seems to like what they heard. Research In Motion (RIMM, $63.46, down $1.21) is over $70 in pre-market trading after reporting strong earnings that beat analysts’ expectations. The company reported earnings of $1.10 a share versus estimates of $1.04. Revenue came in at $3.92 billion which was ahead of the $3.78 billion the Street was calling for.
Oracle (ORCL, $22.88, down $0.24) also came in with better-than-expected results while Palm (PALM, $11.72, up $0.11) however, reported a wider loss than expected as their smart-phone sales declined. Palm is back below $11 in pre-market trading.
Elsewhere, Celgene (CELG, $50.62, down $1.16) is up 9% in early trading to $55 after a late-stage study show its drug, Revlimid, significantly slowed the progression of sickness in patients following a type of stem cell treatment.
We have much more to talk about this morning in the Members Area so let’s get to it. As we head to press, the Dow futures are up 22 points.
Tags: call option trading, Celgene, chicken option trades, Covered Calls, momentum stock option trading, option trade picks, option trading online, options blog, options mentoring, options newsletters, options track record, oracle, Palm, put option trading, Research in Motion, Rick Rouse, stock option trade pick service, straddle option trades, strangle option trades, support and resistance levels, triple-digit option trades
This entry was posted on Friday, December 18th, 2009 at 9:14 AM and is filed under Company Commentary, Earnings, Hot Stocks. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.