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Bulls Takes a Breather, BofA Update

Wednesday, August 5th, 2009

12:30pm (EST)

The market is down a little after a weak Institute for Supply Management (ISM) number that reported business at service companies were lower than expected last month. The news came out at 10am and the Dow has been testing a triple-digit loss ever since. At 9,247, the Dow is currently down 72 points. The Nasdaq is at 1,987 while the S&P 500 is at 998.

One stock that continues to impress is Bank of America (BAC, $16.33, up $0.69) which has broken above its December lows which was prior resistance. We got shaked-out of the August 15 calls (BYOHO, $1.57, up $0.57) at 94 cents but some of you kept the trade open. These calls were profiled at 32 cents last Friday.

The current breakout is something to watch. I’m looking at the chart right now and I need to do further research but I like the the August 17 calls (BYOHQ, $0.44, up $0.25) up to 50 cents and the September 18 calls (BYOIR, $0.55, up $0.26) as quick trades. If you buy 10 or 20 contracts, try to look for a $200-$500 profit and get out.

Rick@MomentumOptionsTrading.com

Tags: Bank of Amercia
Posted in Company Commentary, Option Trades | No Comments »

News Flash: Dendreon News Coming Tuesday/ Goldman Announces

Monday, April 13th, 2009

What a busy day. What a busy weekend. I spent most of the weekend doing the Weekly Wrap as there were numerous topics I wanted to discuss but still didn’t get them all in. However, the ones I did fit into the newsletter were all on stage today.

Of course, the one stock about to steal the show is Dendreon (DNDN, $7.30, up $1.00). Either that, or they get laughed off the stage. After the bell, the company said they would be announcing the results of the Phase 3 Provenge study at 9am (EST). Wow. Big news.

I had mentioned the plan was to roll into the August 10 calls (UKOHB, $2.20, up $0.10) after selling the April 10 calls (UKODB, $0.32, up $0.11) and the May 7.50 calls (UKOEU, $2.65, up $0.55). A lot of you still have positions in the April and May call options so good luck as well.

I really hope everybody makes a lot of money with this one because I have been talking about this event for weeks. If things don’t go your way then hopefully you knew this going in. Do me a favor, if you do make money, send me your emails. If you don’t, you can still send me one and tell me what a lousy pick it was.

Goldman Sachs (GS, $130.15, up $5.82) announced earnings after the bell and beat Wall Street’s expectations. However, the stock is down $2.87 as I type. The April 140 calls (GSDH, $2.80, up $1.88) swelled up and posted a 200% gain for the day. The calls opened at 69 cents and I had mentioned to get in them below $1.00. At 11am, I sent out an update suggesting to sell all or at least half of them. We are getting the “buy the rumor, sell the news” in after-hours trading and this is why I suggested taking profits. Of course, the stock can still make a turnaround by Tuesday morning but hopefully you stuck to the gameplan.

Bank Of Amercia (BAC, $11.02, up $1.47) also had a monster day which meant more good news for those of you still holding the May 6 calls (BYOEF, $5.15, up $1.20) and the July 10 calls (JLWGB, $1.90, up $0.60). The May 6 call options were profiled at 75 cents on March 11th and the July 10′s were at 30 cents. Raise stops from $3 to $4 for the May options and raise the stop on the July 10′s from 95 cents to $1.50.

Take-Two Interactive Software (TTWO, $9.45, up $1.05) made a push towards $10. The May 10 calls (TUOEB, $0.97, up $0.57) opened at 65 cents but traded as low as 55 cents shortly after the market opened. The June 10 calls (TUOFB, $1.30, up $0.66) opened at 85 cents and were up over 100% for the day. So far, so good with this one.

There is a lot more happening with the other trades we have open and I will try to update you by the morning with the rest. Watch for this and the Provenge news. Hopefully, I can get the morning blog done before the opening bell but I probably won’t be able to type as fast as Dendreon’s shares are going to be moving.

Oh yeah, today is the one-year anniversary of the blog. Well, actually, yesterday was but I wanted to thank everyone for letting me share my thoughts and for your support over the past year. Happy 1-year anniversary everybody!

Rick Rouse
Rick@OptionsMentoring.com

Tags: Bank of Amercia, Dendreon, Goldman Sachs, Take-Two Interactive Software
Posted in Company Commentary, Earnings, Hot Stocks, Market Analysis, Option Trades | No Comments »

Gold Hits $1,000

Friday, February 20th, 2009

Gold has topped $1,000 an ounce this morning, rising $23.80, or 2.4%, to $1,000.30. The last time gold topped $1,000 was last March when the price reached a record $1,033.90 an ounce. Gold is up nearly 50% from its low of $681 in October and that $1,033 record appears likely to be broken.

The Spider Gold Shares (GLD, $97.77, up $2.00) continue to make a run towards $100 which has meant good things for our call options. The March 99 calls (GLDCU, $3.60, up $0.90) were profiled at $2.05 on February 2 and the March 100 calls (GLDCV, $3.15, up $0.65) were entered at $1.90.

Research in Motion (RIMM, $40.20, down $1.89) fell below $40 earlier in the session. On Wednesday, I mentioned RIMM could be headed back into the $30′s and we now have some decent profits on the put options I profiled.

The March 40 puts (RUPOH, $3.10, up $0.75) were profiled at $2.15 and have hit a high of $3.50 this morning. The March 35 puts (RUPOG, $1.33, up $0.40) were profiled at 85 cents. Let’s see how the rest of the day unfolds before we close this one out. I really don’t trust them over the weekend but they may be worth holding.

The Dow Jones Industrial Average Index (DJX, 73.65, down 1.01) trade is also working well for us. We entered the March 75 puts (DJXOW, $3.85, up $0.45) at $3.10 on Wednesday and the March 74 puts (DJXOV, $3.50, up $0.50) at $2.75. The Dow continues to weaken and we could be headed below 7,300.

I’m thinking of closing the Bank of Amercia (BAC, $3.39, down $0.54) trades for a loss. With the possibility of nationalization hanging in the balance, BofA could be headed even lower. The two call options, the March 6 calls (BYOCF, $0.25, down $0.05) and the March 7 calls (BYOCG, $0.17, down $0.02) were entered at 90 cents and 60 cents, respectively, on 2/12. There is plenty of time left for the calls to bounce back but we may be better off closing them today.

Rick Rouse
Rick@OptionsMentoring.com

Tags: Add new tag, Bank of Amercia, Dow Jones Industrial Average Index, Research in Motion, Spider Gold Shares
Posted in Option Trades | No Comments »

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REGINA L.
I just want you to know that I love the way you write and explain everything. I am new to this, and have lost 50% of my account until I met you guys. Iit is slowly coming back. I will be calling to set up a year
of membership rather than the one quarter. Thanks again, and LOVE YOU ALL.

STEVE T.
Rick, I appreciate the advice. I think I will just sit back and utilize your selections only for awhile. This will obviously save me a great deal of money in commissions. I have gone thru your entire site including the video on money management. This has brought me to the stark realization that I have been trading too much for too little. I definitely have not been "swinging for the fences", but I also think I have been getting impatient with trades and getting out too fast. This has no doubt caused me too trade too much. I like, and definitely agree on, the advice on money management. Thanks for the help.

SCOTT H.
Thank you!!! I held on to the NFLX position since Nov. 13 at a cost of $1.89. Sold ½ on April 14th for a 540% return and the other ½ upon earnings for 702% return. Total profit of $11,615 a 621% return. Keep the recommendations coming and thanks to you and your team for the service you provide.

PETER G.
Rick & Team, GREAT Call on NKE for my two trading accounts:
1) Entry at .65, out at 1.45, 1.55 Profit = $415
2) Entry at .60, out at 1.75, 1.50 Profit = $485

LAWRENCE O.
Hey Rick! Here is an update on what your picks have done in my accounts.

1) Great call on the JoyG March 55. I bought when you said, then bought again on one of the dips. Booked 80+% profit. Made enough to pay for your service for years to come.

2) Also booked profits on your Berk Feb 74 (80%) and threw a major chunk of change at the March 75’s (190+%). I would have never known that Buffet's stock had split if it weren’t for your service. Bought the shares also for the long haul. Won’t look at them for another 20 years. Great job on getting us in before the indexes did.

3) Took profit on your Imax March 12.5. 20 cent trailing stop at 1.90 yesterday. Not sure what the profit on that was, but profit is profit.

I see that you took a loss on some of these. It’s all good. I look to trade your “ideas” not your exact calls. I THANK YOU! For your ideas and commentary. Keep up the good work. And keep those ideas coming.

C.J.
Loving this subscription so far! I got into the BRK feb 76 calls the day you talked about right before the split...now up over 300% (0.70 to 2.475)! Keep the good picks coming and let's see some OSIS and EMC upside soon! Just wanted to share my positive enthusiasm on your newsletter...it gives us individual investors great ideas on not only the options market, but also the broader equity market! Case in point is BRK...I can't always read the breaking business news but its easy to read your twice daily updates on my smartphone...helped me get some BRK shares immediately after the split which I will hold for the long haul! Thanks again!

SHAUN
Aloha Rick - Thank you so much for the great CL pick. I am not sure if there was buy-out/merger news or what but at 3PM today Colgate-Palmolive absolutely EXPLODED to the upside, and my calls turned into green candy when they went from 1.40 to 3.8 in a matter of seconds! I even sold a few for over 4.0! Much thanks and keep the solid picks up my friend, honestly. Only a fool would scoff at 267% gains... Peace!

MICHAEL K.
I like the fact that you ask for comments from subscribers. Good customer service. By the way, am enjoying the service so far. Some good
profitable calls. Keep up the good work.

PARAG P.
Woo hoo! Out for 50% on WMT this am. Making up for my depression for getting out of pcln for a 30% gain monday :( you the man! any word on the manual? My friend Mike ( who I sent to your service) told me he emailed you about your integrity in reporting fills. I echo that sentiment big time.. keep it up! Cheers!

JAY P.
Hi Rick, as a new member all I can say is, 'show off' LOL, with PCLN.

MIKE
Rick, I am a new subscriber to your service, and I want to say I am impressed. I am impressed by your results, but more than that I am impressed by your reporting of your fills. You could have easily said you got that Wal-Mart call today for 80 cents, instead you reported 98 cents! Good job and keep it up, I watched the reporting of the fills first, and then I subscribed. Thank You.

TRISH D.
Hi, good morning. I jumped the gun a little on this one (PCLN). But still made $1,675.00 profit!! Very happy!! Keep up the good work!! Thanks.

MIN L.
Hi there, I have joined recently, and I am very happy to tell you that I am up over $10,000 on your picks in a month. I started on 10/7 with the Intel pick. I'll be your member for life. Please don't quit on us. Also, I am learning a lot about options. I didn’t get in your recent APOL and that gold trade and only had one loss on CHK. I appreciate all the DD you do. I enjoy your market commentaries. Best advice site period, and I have tried a few here and there. Again, you guys rock!

JOE G.
Thanks be to Momentum Options Trading for providing me with some fantastic wins. I just started with this service and am up nearly 50% in less than a month. There have been losses, but if I manage them properly, I will continue the best efforts given on the blog (in which there are no complaints). What a great cause for humanity. I feel more confident about my trades and continue to play the wins. Best of all, I am now keeping my regular paychecks in the bank! Thank you!

GREG F.
Rick - I wanted to say thanks for getting me started on the right foot with your service. I have made six trades since starting on October 22, 2009. Five are winners and One loser netting me $6,245. Thanks again and keep the trade recommendations coming.

NOEL
I got into the Nike 60 Call at 1.85, sold at 5.00, also bought a 55 put at 1.05, but got stopped out at .35. What a ride! $2830.00 in the black even with the put. It's right at 100% return. I hope earnings season coming up is going to look like this trade.

TODD F.
Nice call on Nike. I think I'll go buy a pair with my profits! : ) I did the straddle for safety but still made 62% on the trade. Not bad for less than 24 hours. If Goldman is right, then the Nov 70s or 75's could be a steal today.

PAUL H.
What a sweet way to get introduced to Momentum. My first trade based on your picks and it a 2X. Thank you!

NOEL
“Limit order was set at 1.60 on RIMM so it sold. I may have left some money on the table but you can't go broke making a profit. That was a fun trade. Thank you. Good call. I’ve been watching and trading Rick's advice since March. It’s usually a fun ride, but I give him heck when it's wrong to. :) ”

CHRISTIAN
“Your service rocks! I made bank on Dendreon last week! The other thing I have to say is that it took me quite a while to find a REAL options trading service like yours. Most of what’s out there is 99% scam and very sketchy. Momentum Options Trading is the first service I found that I can trust and seriously make money with.”

JOHN
“I made $420.00 on ANF in 2 days. Thanks for the trade and updates on getting out of the trade.”

CHARLES M.
“I did follow a lot of your trades with 1-2 contracts per trade and YTD I’m up 108%. I try not to follow blindly by not entering all of your trades and sometimes entering the ones you don’t. I entered AIG a few weeks ago against recommendation – that one hurt.”

BRYAN C.
“I have been following you for several months and am interested in the new service. I hate to see the free service go away but as they say, “all good things must come to an end”. My ability to join will be greatly influenced by the monthly fee so I’m very curious to see the new prices. Thanks for making April a great month for me and my family.”

JOHN H.
“I have really enjoyed the past month since finding your blog. You have made some great calls. I would appreciate info. on the new options mentoring program. Thanks.”

JEFFREY
“Hi Rick, I have been following your blog for several months now and I would like to be including on the list for your new service and to receive more information about it. And yes I was a Dendreon winner with your tips. Turned $280 into $7700, and literally saved my butt.”

ED
“I made over 6k on your Dendreon trade, and I’m very interested in learning how you pick and trade options. Sign me up.”

GREG
“Rick – Wow what a day! I got in at the Dendreon calls at $2.25. Thanks to for your advice. I appreciate that. This company has a lock on this type of therapy and no one else in the world is close. Kind of reminds me of the type of companies that Peter Lynch and Warren Buffet suggest that investments be made in. Companies that can build a moat around their business model, that allows them to charge a premium for their product or service. In other words - a monopoly.”

KEN
“Hi Rick, Thank you so much for the Dendreon trade, I made almost $10,000 with that trade with a little over $2,000 investment. You have shown me the power of options trading. Again, thank you so much for all your inputs.”

GARETT
“Hi Rick, thanks for the encouragement to play the dendreon calls! did freaking great! Got in the first lot at $1.44 on 3-24-09, sold at $2.45, 70% not bad. Bought it back at $2.30 on 4-7-09 closed out on 4-14-09 for 454% gain! Wow! I love it when that happens. So, thanks the encouragement to get back in when others were saying sell, sell, sell. Keep up the good work.”

TERENCE
“Rick – Thanks for Dendreon – it has made all the headlines today! I missed on RIMM earlier, but I’ve been holding onto DNDN calls since 3rd week March. Of course today it all paid off today, as DNDN rocketed up.”

Posts Tagged ‘Bank of Amercia’

Bulls Takes a Breather, BofA Update

News Flash: Dendreon News Coming Tuesday/ Goldman Announces

Gold Hits $1,000