MomentumOptionsTrading.com Midday Update for 6/30/2014
Nasdaq Clears 4,400/ 3 New Trades
Although this is a light week for Wall Street with fireworks on Friday, the real show begins next week with 2Q earnings season kicking off. There are a few trades worth watching this week as Acuity Brands (AYI), A. Schulman (SHLM), CalAmp (CAMP) and Paychex (PAYX) report on Tuesday
Constellation Brands (STZ), Frischs Restaurants (FRS), Greenbrier Companies (GBX) and Unifirst (UNF) announce their numbers on Wednesday.
On Thursday, International Speedway (ISCA) and ITT Educational Services (ESI) wrap up the week with the market closed on Friday. ITT Educational is at 52-week lows and may be ripe for a put option trade.
There are also a few trades I like for the Weekly Wrap, which is now 18-4 (82%) for 2014 (103-11, or 90% win rate, since 2011).
The Daily portfolio is in prime position and has been on an incredible run lately. The portfolio is 21-4 since mid-April for an astounding win rate of over 80%. For the year I have a 65% win rate for ALL of my trades. This is consistent with the 6-year track record which is also sporting an incredible win rate of nearly 70% and has never had a losing year.
It is a feat I’m proud of but also shows my dedication to outperform the Wall Street pros year-in and year-out.
As far as the market, trading has been mixed to choppy but the first day of July is usually bullish. Heading into the second half of trading , the Dow is down 18 points to 16,833 while the S&P 500 is up a point to 1,961. The Nasdaq is up a 12-pack to 4,410 and the Russell 2000 is gaining a point to 1,190.
I have 3 New Trades today for the Daily. I also have another Profit Alert for the Weekly Wrap and possibly a new recommendation as well. Look for another update in an hour or so but for now, check the Members Area for the updates!