Futures were pointing towards a nice open as we finished up our Weekly Wrap and ahead of the European markets opened late last night but had weakened ahead of the bell here at home. Tech was showing strength but the mixed open has lead to some choppy trading as we head into the second half of the session.
We covered a ton of information and clues to look for as far as the bulls attempt to continue their momentum while the bears try to stop it this week. Of course, one of the market-weighing events will be today’s earnings report from Apple (AAPL, $528.61, up $2.65) after the bell. We talked about Wall Street’s expectations for the company and the chart work we have been doing over the last few weeks is pointing towards a huge move in after-hours trading and into Tuesday’s session.
We also profiled call options from last week that doubled ahead of the news and the option pits have been extremely active today. While we don’t have an official trade for Apple going into the report, we do have a number of current trades that will be affected by the outcome. Our portfolio is also light so we could take an earnings trade or two this week as we have a number of them on our Watch List. We profiled a Burger King Worldwide (BKW, $20.70, up $0.94) trade on our sister site on Friday that more than doubled on today’s open and our Watch List will be profiling up to 10 possible new trades this week and into next.
We could have a super busy Tuesday with some New Trades but for now let’s stand pat and let the other players come into the pot. We could have some nice paydays coming this week with our current chips in play and we don’t need to raise the stakes until the action starts to heat up which will be very soon.
As we head to press, the Dow is up 21 points to 15,591 while the S&P 500 is higher by 3 points to 1,763. The Nasdaq is down a point to 3,942.
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