MomentumOptionsTrading.com Midday Update for 6/23/2014
Magic Monday’s in Jeopardy/ 4 More Profit Alerts/ New Trade!!!
I’ve talked about the upcoming 2Q earnings season for a few weeks now but often remind readers there is still plenty of action EVERY month and nearly every day in the market reporting earnings.
This week there are a number of interesting possible option plays but I also remind subscribers they are risky because a number of factors have to play out just right to get the big payoff. However, with chart work and homework you do better your odds of being successful.
This week, Micron Technology (MU) and Sonic (SONC) report after today’s close.
Walgreen (WAG) reports on Tuesday morning with Apogee Enterprises (APOG) and The9 (NCTY) coming after the close.
Wednesday is a BIG day for a couple of stocks I’m bearish on. Ahead of the open, Apollo Education Group (APOL) steps up to the plate along with Barnes & Noble (BKS), Carnival (CCL), General Mills (GIS), Lennar (LEN) and Monsanto (MON).
After the close, I will be watching the action in Bed Bath & Beyond (BBBY). H.B. Fuller (FUL), Herman Miller (MLHR) and Progress Software (PRGS) also report earnings.
Thursday is a busy day with Accenture (ACN), ConAgra Foods (CAG), Golden Energy Marine (SHIP), McCormick & Co (MKC), Schnitzer Steel Industries (SCHN), Winnebago Industries (WGO) and Worthington Industries (WOR) confessing ahead of the open. All eyes will be on Nike (NKE) after the close.
Ahead of Friday’s open, Finish Line (FINL) and KB Home (KBH) will update Wall Street with their numbers.
The bears are trying to snap a 9-session Monday skid and have held the blue-chips down for the first half of trading. The bulls are looking to make it to double-digits for Monday and Dow higher closes and have kept the losses in check.
The Dow is down 35 points 16,911 while the S&P 500 is slipping 3 points to 1,960. The Nasdaq is lower by 4 points to 4,363 and the Russell 2000 is declining 3 points to 1,185.
I am watching these stocks for a possible option trade but I have a New Trade that isn’t an earnings trade for now. There are a number of Profit Alerts as well.
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