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Market Mixed at Halftime

Wednesday, January 11th, 2012

12:40pm (EST)

The market has spent much of today’s session in negative territory but Tech is showing strength as we head into the second half of trading. The S&P and Dow are off their lows and are trying to join the Nasdaq as the bears are looking to slow down the bulls momentum into the close.

Tech is showing strength despite Microsoft (MSFT, $27.87, up $0.03) saying PC sales were off about 1%. Our subscribers recently closed a Microsoft January call option trade for a 124% return and we recommended rolling some of the profits into some longer-term options.

Shares appear headed to $30+ as the slight pre-warning ahead of next week’s earnings announcement doesn’t faze us. Microsoft should easily beat analysts’ estimates which is what we are hoping for at least.

While Wall Street is on lunch break, we see an opportunity to add another option trade. We have been watching a put position on a stock that has been on our Watch List and we feel a breakdown is coming.

As we head to press, the Dow is down 46 points to 12,416 while the S&P 500 is off 3 points to 1,288. The Nasdaq is higher by 3 points to 2,705. Subscribers, check the Members Area for the NEW TRADE and for the updates on our current trades.

Tags: Dow, MSFT, Nasdaq
Posted in Market Analysis, Trade Update | Comments Off

Bulls Pushing July 2011 Highs

Tuesday, January 10th, 2012

1:30pm (EST)

We have our fingers in a lot of pies so we have to keep today’s afternoon commentary short.

Futures were pointing towards a nice pop at the open which was enough to push the major indexes right up to our near-term targets. We are still waiting for confirmation of a “breakout” to our upper-end targets but today’s move has generated some nice profits for us either way.

The Dow is up 65 points to 12,457 while the S&P is higher by 10 points to 1,291. The Nasdaq is advancing 23 points and is at 2,699. Tech has kissed 2,700 after trading to a high of 2,712 so let’s see if it holds as we enter the second half of trading.

We have been super busy this morning after releasing a New Trade and closing half of another to take profits of 90%. Some of our other positions are showing strong 30%, 40% and 50% gains so we are also getting close to locking in profits for those trades as well. As we head into the back half of the week, these trades could approach triple-digit returns if the bulls can keep the rally going.

Although our foot is on the gas pedal, we still want to close a few positions into strength in case there is a curveball or pullback after the run up to resistance.

Subscribers, check the Members Area for the updates and stay locked-and-loaded. We may have some action to take later this afternoon.

Tags: Dow, Nasdaq, option tips
Posted in Market Analysis, Market Commentary | Comments Off

Add Another Headline Worry

Wednesday, December 28th, 2011

12:20pm (EST)

Now we know why we learned World History in high school.

After a decent start, the market is pulling back on fears of a possible US conflict with Iran. Tensions have been rising for a few weeks over Iran’s threat to shut down the Strait of Hormuz which happens to run 15 million barrels a day of oil through its waters, or one-fifth of the global production.

The country has been moved to the top of the global sanctions list due to its thirst for nuclear weapons and said shutting down the Strait would be easier than drinking a glass of H20. The US fired back (possible future pun intended) by saying no way Jose and will take action if Iran attempts to block the 4-mile width passage.

The US has been trying to, ah what’s a good word, “conform” Iran for decades and this threat of war shouldn’t be taken lightly. We aren’t worried about the outcome of who would “win” a war because it is never a good thing but the fight would be swift and Iran would suffer terribly. We are more worried about Iran’s hunger to build a nuclear weapon and the fact that oil could double to $200 if shots are fired.

Let’s hope it doesn’t come to battle and cooler heads prevail but this could get ugly.

As far as the impact on the market, the bears are pushing support after the bulls ran the indexes higher at the open. However, once the US/ Iran news started making the rounds on the business channels, stocks pulled back. War doesn’t necessarily mean the market will automatically go lower and there our other countries who share our same interest in keeping the Strait open.

As we head to press, the market is near its lows. The Dow is down 133 points to 12,157 while the S&P 500 is off by 14 points to 1,250. Both indexes have slipped below their 200-day moving averages. The Nasdaq is showing a decline of 30 points to 2,595.

We have some more profits to take in case the pullback gets worse but we are looking for support to hold. Subscribers, check the Members Area for the updates.

Tags: Dow, Nasdaq, S&P 500, stock market war worries, US+Iran conflict
Posted in Market Analysis, Market Commentary, Oil | Comments Off

Bulls Recover, Push Resistance Again

Thursday, December 8th, 2011

9:00am (EST)

The market appeared as though it would end flat for the second straight session, but a late afternoon charge by the bulls reversed most losses and left the bears with an empty feeling. We said in yesterday’s afternoon update that the futures market had penetrated resistance in overnight trading but those gains had faded by the time the opening bell sounded. Little did we know resistance would come into play before the closing bell as the final hour of trading got crazy.

A late day rumor of a possible $600 billion International Monetary Fund (IMF) lending program created a buying frenzy, but those rumors were dispelled after an IMF official said no such action was being considered. This caught the bears off guard and although they recovered as well, with both sides positioning themselves ahead of today’s European Central Bank’s (ECB) monetary policy statement.

The Dow added 46 points, or 1.4%, to finish at 12,196. The blue-chips tested a low of 12,060 in the morning but easily busted through our-near-term target of 12,200 late in the day before finishing just below this level. This was the third time this week the 12,000 level has held which has been solid support and we mentioned a close above 12,200 could get the Dow to 12,350-12,400 next. Same deal for today.

The S&P 500 gained nearly 3 points, or 0.2%, and closed at 1,261. The index traded down to 1,244 and below near-term support at 1,250 but was never really in danger of kissing 1,225 which is the next wave of support. We are still looking for a pop to 1,275 with a shot a 1,300-1,325 by yearend.

The Nasdaq fell for the second straight day by the slimmest of margins, down one-third of a point, or 0.01%, to end at 2,649. Tech dropped to a low of 2,612 about an hour into the session but the bulls held 2,600 while pushing a high of 2,660 into the close. We are looking for a pop past 2,675 with a run past 2,700 on good Europe news.

The real story behind yesterday’s rally though, may have been the Financial stocks which were down about 1% on the open but managed to worked their way into positive territory for a 1.2% gain by the time the bell sounded.

The next 2 days are going to be fun and this morning, futures are slightly lower as we head to press and look like this: Dow (-46); S&P 500 (-7); Nasdaq (-9).

Subscribers, check the Members Area for the updates.

Tags: Dow, Financial Stocks, S&P
Posted in Market Analysis, Market Commentary | Comments Off

Upside Momentum Continues

Monday, December 5th, 2011

1:00pm (EST)

Futures were pointing towards a strong open this morning on hopes France and Germany could come together and agree on a new fiscal pact that would helpstem Europe’s debt crisis. We mentioned last night that French President Nicolas Sarkozy and German Chancellor Angela Merkel would be meeting today and they seem to have outlined the basic principles of another “plan” to increase budget discipline.

The proposal will be presented in detail on Friday when the European leaders meet and will involve amending or rewriting the treaties that govern the European Union. This should go smoothly, right?

There was also some “good” news out of Italy as they unveiled new spending cuts to help lower the country’s budget deficit. The austerity measures are equivalent to roughly 2% of Italy’s Gross Domestic Product (GDP) and will be voted on later today.

Here at home, economic news was less than stellar as U.S. non-manufacturing activity fell to 52 in November from 52.9 in October. The print above 50 was still bullish though. The other bit of news we got was also slightly negative as U.S Factory Goods declined 0.4%.

As far as the market, the good has outweighed the bad with the bulls pushing our first set of resistance levels for the week

The Dow is up 154 points to 12,173 while the S&P is higher by 22 points to 1,266. The Nasdaq is showing a 47 point pop and is at 2,674.

We’ve had some nice pin action on our current trades today so we are going to lock-in half profits on some of them. We still think the market is headed higher but just like we bought call options on weakness, we now have to sell a few of them into strength to lock-in profits. Subscribers, check the Members Area for the updates and we will be back in the morning with our next report.

Tags: Dow
Posted in Market Commentary | Comments Off

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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 ‘Dow’

Market Mixed at Halftime

Bulls Pushing July 2011 Highs

Add Another Headline Worry

Bulls Recover, Push Resistance Again

Upside Momentum Continues