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Thursday, May 9th, 2013
9:00am (EST)
The first day of May belonged to the bears buts it has been all bulls and no bull since as they ran their current winning streak to 5-straight session following Wednesday’s push higher. There was some early morning and a late day pullback off the highs but the indexes were able to push through the choppiness to record all-time closing highs for the second day in a row.
The Dow jumped 49 points, or 0.3%, to close at 15,105. The blue-chips held the 15,000 level following the opening dip to 15,021 and recovered their losses before Wall Street’s lunch break. The high came in at 15,106 and keeps our near-term target of 15,300 in play as long as support holds.
The S&P 500 added a 6-pack, or 0.4%, to finish at 1,632. The index went out at its high after testing 1,622 in the morning. A run to 1,650 is still looking good as long as 1,625 is held. There is further support at 1,600 if it doesn’t and a break back below this level will cause some uncertainty.
The Nasdaq gained 16 points, or 0.5%, to settle at 3,413. Tech traded down to 3,389 on the open but the 7 point loss was quickly erased shortly within the first hour of trading. The index also went out at its peak and keeps 3,500 on the map.
The Russell 2000 advanced 2 points, or 0.3%, to end at 970 while S&P 500 Volatility Index ($VIX, 12.66, down 0.17) fell 1%.
We have a number of trades that will be in play at the open so stay on your toes after the open in case we take action on current trades. As we head to press, futures look like this: Dow (-8); S&P 500 (-1); Nasdaq 100 (-7).
Subscribers, hit the Members Area for the current updates.
Posted in Futures, Market Analysis, Market Commentary | Comments Off
Tuesday, February 12th, 2013
9:00am(EST)
The market traded lower on Monday ahead of this week’s big events as the bears tried to find an opening to slow down the bulls momentum. Much of the action stayed south of the boarder and the few attempts to turn green were brushed back, including the one in the final few minutes of trading.
We made a mental note the bulls lost Monday’s session as we said they needed a win but by the fraction the bears won, it might not have as much impact depending on the rest of the week and Friday’s close.
The Dow declined 22 points, or 0.2%, to end at 13,971. The blue-chips traded to a low of 13,940 before recovering some of their losses but didn’t have the fight to push 14,000 or resistance at 14,200. The lows were higher than last week’s low and dip to support so the damage was minimal.
The S&P 500 slipped less than a point, or 0.1%, to settle at 1,517. The index traded down to 1,513 and held 1,510. This will be our first clue a test to 1,500 is coming this week if 1,510 drops. If this level holds then we are looking for a trip to 1,525+. The index did traded into positive territory briefly before the close and set another 52-week high of 1,518.31 before giving it back.
The Nasdaq fell 2 points, or 0.1%, to finish at 3,192 even. Tech showed some strength late in the day but backed off 3,194 into the close. We are still expecting a pop past 3,200 and possibly up to 3,225-3,250 over the near-term but anything below 3,175 would be a momentum killer this week. Yesterday’s low was 3,182.
The S&P 500 Volatility Index ($VIX, 12.94, down 0.08) inched up to 13.42 but closed below 13 which was bullish while the Russell 2000 held its own by losing just 3-quarters of a point to close at 913.
One stock we have mentioned over the years that we love to hate and is getting attention again is Moody’s (MCO, $45.49, up $2.12). We were just thinking to ourselves last month how amazing it was shares had hit double-nickels ($55) as we have hated the stock since the $20’s and into the $30’s.
We often made fun of Moody’s as they were always an “after the fact” downgrade firm and got a lot of credit for doing nothing with no blame during the financial crisis in 2008. We missed last Monday and Tuesday’s plunge from $55 to $49 to $45 and last Friday’s low was $40.67.
There could still be a profitable option trade in Moody’s and we will check the chart work and our research to see if a rebound is coming or a test to the $30’s is in the works. Remember, you can read some of our past articles on Moody’s by typing in the company’s name or ticker symbol in the search box on our website.
Futures were showing a lower open on geopolitical tensions last night but have improved throughout the morning as we head towards the bell. We said this could be one of the skeletons in the closet that could derail or pose headwinds for the market so we will have to keep an eye on North Korea. As we head to press, futures look like this: Dow (+12); S&P 500 (+1); Nasdaq 100 (-1).
We have added a few more possible plays to our Watch List, some calls and some put options, so stay ready in case we close current positions and open new ones as we expect volatility to start picking up. Subscribers, check the Members Area for the updates.
Posted in Earnings, Financial Stocks, Futures, Market Analysis, Market Commentary | Comments Off
Thursday, November 15th, 2012
9:00am (EST)
The President did his best Beatle’s impersonation but it didn’t help the market. The bulls made another feeble attempt at resistance and were hoping for some good news on the Cliff. Instead, the bears pushed them over it leaving the bulls hanging by a thread.
The Dow fell 185 points, or 1.5%, to close at 12,570. The blue-chips tested resistance at 12,800 which was prior support and kissed 12,797 but they started turning south shortly after the open. The low for the session came in at 12,542 and our near-term target of 12,600 since mid-October has been triggered. We mentioned in our Weekly Wrap/ Monday Morning Outlook there was a chance of 12,400 being tested this week if the downside momentum picked up speed. (continued…)
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If you are not a subscriber but would like to read more please click here. We are one of the fastest growing stock options trading advisors on the internet and we are doing well for 2012. We offer 2-3 powerful call or put option trades each week (depending on market conditions) aimed at triple-digit returns for our Daily newsletter and our Weekly Wrap Covered Call Portfolio strides for double-digit returns on a monthly basis and is 26-0. Together, we are 144-50 (75% win rate) for both newsletters and we doubt you will find a better options trading service.
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Tuesday, October 16th, 2012
12:10pm(EST)
Futures were showing a higher open throughout the night as they were up ahead of the European open and got stronger before the start of trading here at home. The bulls have managed to push resistance that was prior support as the indexes are up nearly 0.75%, on average.
We had a checklist for the bulls coming into the week and all year long they have managed to push the market higher just as it appears ready to fall off a cliff (pun intended). Coming into the week, the bears were thisclose to pushing a new leg lower but we warned the bulls have been resilient.
We have also talked about volatility pickin up and we are starting to see that with the 1% daily swings. The week is still early so expect more of the same as the real battle is just beginning.
We have been mums on the overseas developments this week because there hasn’t been much to talk about except Spain’s pending bailout. The zombies on the other side of the pond will start a 2-day summit on Thursday and Spain has to ask for the bailout before the ECB (European Central Bank) can start buying their bonds. Spain is trying to hold off as long as it can before asking for the bailout because it comes with more strings attached and instead might seek a “credit line”.
Another curveball the market might have to deal with this week besides earnings will be the economic news, not only here at home, but China’s as well. Questions and growth rates remain a hot topic of debate and China has been known to report some funny numbers to make things look better than they are. Expect more of the same when they report their GDP (Gross Domestic Product) numbers.
As far as the happenings here at home, company earnings will also play a big part of the news with some heavy-hitters reporting this week. Friday is October options expiration and the last 6 years and 7-of-the-last-8 have resulted in a lower Dow. Friday is also the 25th anniversary of the Monday, October 19, 1987 stock market crash that saw the Dow fall over 22% in a single-day. (continued…)
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If you are not a subscriber but would like to read more please click here. We are one of the fastest growing stock options trading advisors on the internet and we are doing well for 2012. We offer 2-3 powerful call or put option trades each week (depending on market conditions) aimed at triple-digit returns for our Daily newsletter and our Weekly Wrap Covered Call Portfolio strides for double-digit returns on a monthly basis and is 24-0. Together, we are 135-45 (75% win rate) for both newsletters and we doubt you will find a better options trading service.
Posted in Economic News, Futures, Trade Update | Comments Off
Wednesday, May 23rd, 2012
9:00am (EST)
Yesterday’s market action reminded us of Saturday’s Preakness horse race as the bears “had another” to claim the photo-finish win. The bulls led the entire session as the Dow and S&P were looking to make it back-to-back wins for the first time since late April but the bears won the race as the closing bell sounded.
The Dow slipped 2 points, or 0.01%, to finish at 12,502. The blue-chips tested 12,600 like we said they would but had trouble clearing this level as they attempt to make a run at 12,800. Yesterday’s low was 12,447 but the close above 12,500 was positive.
The S&P was up less than a point and settled at 1,316 after reaching a peak of 1,328. The move above 1,325 could be a clue that 1,350 is still in play but we are waiting for 1,334 to print as confirmation.
The Nasdaq fell 8 points, or 0.3%, to close at 2,839. Tech kissed a high of 2,867 before fading down to 2,823. The close above 2,825 was encouraging but resistance at 2,850 needs to be cleared as confirmation for a possible run back to 2,900.
Side Chart Notes: The Russell 2000 fell 5 points to end at 759 while the S&P Volatility Index closed just under the 22.50 level at 22.48, up 0.47.
Facebook (FB, $31, down $3.03) continued its freefall while its CEO enjoys the honeymoon, literally. Word has it that Mark and his longtime gal tied the knot, which is cool, and well deserved, but the timing seemed a little weird to us.
Most CEO’s don’t plan on getting married the day after their company goes public but a $20 billion bankroll sure makes the places and things you can do seem unimaginable. Good for Mr. and Mrs. Zuck but shares are starting to suck and were down another 9% yesterday.
The only reason we brought you this story, because we are tired of typing the name, is because the options should be listing in a week or so for Facebook. The premiums on the call and put options will be expensive and we might have to get creative but we plan on dabbling in them once they list.
Futures are showing a nasty open this morning after being weak for much of the night. Dow futures are down 95 points to 12,381 while the S&P 500 futures are lower by 11 points to 1,303. The Nasdaq futures are declining 21 points to 2,514.
Subscribers, check the Members Area for the updates.
Tags: binary options, call options, futures options, high beta stocks, Hot stocks, momentum options, Momentum stocks, option market, option tips, options, options mentoring, options trading, options trading course, stock market options, weekly options, what are options
Posted in Futures, Market Analysis, Market Commentary, VIX | Comments Off
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Bulls Continue Streak
Thursday, May 9th, 2013
9:00am (EST)
The first day of May belonged to the bears buts it has been all bulls and no bull since as they ran their current winning streak to 5-straight session following Wednesday’s push higher. There was some early morning and a late day pullback off the highs but the indexes were able to push through the choppiness to record all-time closing highs for the second day in a row.
The Dow jumped 49 points, or 0.3%, to close at 15,105. The blue-chips held the 15,000 level following the opening dip to 15,021 and recovered their losses before Wall Street’s lunch break. The high came in at 15,106 and keeps our near-term target of 15,300 in play as long as support holds.
The S&P 500 added a 6-pack, or 0.4%, to finish at 1,632. The index went out at its high after testing 1,622 in the morning. A run to 1,650 is still looking good as long as 1,625 is held. There is further support at 1,600 if it doesn’t and a break back below this level will cause some uncertainty.
The Nasdaq gained 16 points, or 0.5%, to settle at 3,413. Tech traded down to 3,389 on the open but the 7 point loss was quickly erased shortly within the first hour of trading. The index also went out at its peak and keeps 3,500 on the map.
The Russell 2000 advanced 2 points, or 0.3%, to end at 970 while S&P 500 Volatility Index ($VIX, 12.66, down 0.17) fell 1%.
We have a number of trades that will be in play at the open so stay on your toes after the open in case we take action on current trades. As we head to press, futures look like this: Dow (-8); S&P 500 (-1); Nasdaq 100 (-7).
Subscribers, hit the Members Area for the current updates.
Posted in Futures, Market Analysis, Market Commentary | Comments Off