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Posts Tagged ‘JPMorgan Chase’

Market Hits Fresh 2011 Lows

Tuesday, October 4th, 2011

9:00am (EST) 

We mentioned yesterday we were excited about the market going lower because A) it proved our homework back in August was about to pay off and B) our subscribers have made a wheelbarrow full of money over the past few weeks following our option recommendations.  Of course, 2011 has been a hard market to trade considering all the major events that have taken place and the recent 8-week trading range has been just as much of a headache.  However, one thing our students know is that the longer a market, or stock, stays in at trading range the bigger the breakout or breakdown becomes. 

We knew going into last week the bulls had a lot of work to do and once they failed to clear short-term resistance, we knew the trading range was about to crack – to the downside.  We also got a hard date on when Greece’s fate would be determined which also lead us to believe there would be more anxiety as push comes to shove.  Yesterday’s technical damage was exactly what we wanted to see, as the decline pushed the major averages to new 52-week closing lows.

Even good news here at home continues to take a back seat to Europe’s woes, as Greece admitted that it does not expect to hit its deficit target.  Also weighing on the market was the data from overseas which pointed to a slowdown in manufacturing. 

Bankruptcy rumors spooked Wall Street and Airlines stocks as AMR (AMR, $1.98, down $0.98) fell 33% on water-cooler talk they might need to higher some Chapter 11 lawyers.  In the company’s defense, they did state they were not seeking a prepackaged bankruptcy but often times where there’s smoke, there’s fire.  United Continental Holdings (UAL, $17.11, down $2.27) gave back 12% while JetBlue Airways (JBLU, $3.49, down $0.60) tumbled 15%.  We saw some cracks in the sector back in August but we failed to give our UAL put option trade enough time to take advantage of yesterday’s debacle. 

Elsewhere, Financial stocks took a beating as they suffered the worst loss of any major sector by falling 4.5%.  Bank of America (BAC, $5.53, down $0.59), Morgan Stanley (MS, $12.47, down $1.04), Goldman Sachs (GS, $90.08, down $4.47) and JPMorgan Chase (JPM, $28.65, down $1.47) all hit new bottoms and could go even lower. 

We have been warning our readers of Goldman’s troubles and we have said BAC was going to $5 but neither looks like a buy quite yet.  In fact, we now have a triple-digit profit (+145%) in our Goldman Sachs put option from last week and all we have to do now is protect our gains.  In pre-market action, Golden Slacks is trading in the $80’s. 

As far as the market, let’s go over the numbers and more downside targets because it’s going to get worse…    

The Dow dropped 258 points, or 2.4%, and ended at 10,655.  There was strong support at 10,800  (which is now resistance) but this level acted like a wet paper towel trying to stop a cannonball…

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If you are not a subscriber but would like to read more and check our chart work for the indexes and our current trades, please click here.  Futures are pointing towards another nasty open which is good news for us.  Dow futures are lower by 96 points to 10,443 while the S&P futures are off by 11 points to 1,075.  Nasdaq 100 futures are down 16 points to 2,050.  We have quite a few trades that are up triple-digits so we have set HARD STOPS to protect our profits.  However, with the futures tanking, it looks like we could see continued gains for our trades.

Intel Pushing Higher Ahead Of Earnings

Tuesday, October 13th, 2009

1:00pm (EST)

The bulls are trying to get the market higher today after starting off the session behind the 8-ball.  They are doing a pretty good job as they did get the market into positive territory but we have since slipped once again.  The Dow opened lower and traded to a low of 9,815 (down 70) but has rebounded off the session lows.  Currently, the Dow is down 13 points to 9,872.

We have a mixed bag with the Financial stocks.  The credit card companies are doing well…American Express (AXP, $35.39, up $0.31), Mastercard (MA, $216.78, up $0.78) and Visa (V, $74.47, up $0.77) are up while Bank of America (BAC, $17.80, down $0.23), JPMorgan Chase (JPM, $45.23, down $0.83) and Goldman Sachs (GS, $186.32, down $3.80) are slightly lower.

Of course, the big news today is Intel’s (INTC, $20.61, up $0.21) earnings after the bell.  The stock has held up rather well today and there is heavy volume in the option pits.  By the look of things, the action is pricing in a 5%-10% move in the stock and there is a bullish tone being set.  However, Intel will need to beat on earnings AND revenue, in my opinion, for us to move higher.

Current Subscribers are up 60% on one of our Intel trades and can check the Members Area for the updates…oh, Imax (IMAX, $10.16, up $0.11) has set a 52-week high of $10.25 today and continues to reward our patience.

JPMorgan Up Pre-Market/ Google On Deck

Thursday, April 16th, 2009

9:20 am (EST)

This has been “cheap out-of-the-money option and earning expiration trade week” and it only happens four times a year. I like to consider these four times a year events like going to Las Vegas or Atlantic City. These options trades have been no different than playing $50 hands of three-card poker or a slot machine and they either hit or they don’t. However, since we know the stocks, and we have charts and past history we can look at, the odds are a lot beter then the “house” odds. I mentioned a slew of hot plays that were a gambler’s delight in the Weekly Wrap and all of them have had pretty good success.

Yesterday’s update right before 2PM was to stay away from JPMorgan Chase (JPM, $32.56, up $1.86) and maybe roll the dice on Google (GOOG, $379.50, up $10.59) if you are “Ed” the gambler and not “Joe” the plumber.

The JPMorgan Chase April 35 calls (JPMDB, $0.54, up $0.26) were at 43 cents and actually gained another 25% after the update. It’s funny because the last thing I said before yesterday’s opening bell was that the rally in financials was fading and it would be up to Goldman Sachs (GS, $121.19, up $6.08) to get everybody back on track.

Well guess what. Low and behold, Goldman jumps 5% yesterday! It was the one “clue” I said to watch for with the financials. This was incredible because the stock closed at $130 on Monday, dropped $15 on Tuesday to $115, and is now trading near its $125 stock offering that the company did to raise $5 billion. That is “sickishly” bullish. And I just came up with a new word for “SportsCenter”…it could also mean Goldman’s uptrend is intact.

The JPMorgan April 35′s should jump this morning and pay close attention to the Goldman Sachs April 125 calls (GSDE, $0.95, up $0.33). They hit a low of 32 cents yesterday and $125 could be the battle ground for where the stock settles. In fact, Goldman could make a run to $130 if the financial stocks rally today and Friday.

With Google, there are whispers that the company could miss earnings and there are others who feel the company could report over $5 a share and totally smash Wall Street’s expectations. Since we are gambling, I’m in the camp that Google will break $400.

I said the April 420 calls (GOPDD, $2.95, up $1.00) “could do well” at $1.45 and they freakin’ doubled after the 2pm update! Now you can clearly see what kind of returns expiration week on options can provide. Of course, it’s a doubled edged sword that cuts both ways, baby. If Google hadn’t of rebounded in the afternoon yesterday, these calls would be going the south.

The April 400 calls (GOPDT, $6.95, up $2.35) were trading at $4.40 and gained over 50%.

Google doesn’t announce until after the bell today so if the stock can continue higher, sell the calls before the closing bell. This is where a lot of inexperienced traders hold positions hoping to make even more money. I can see letting the position ride if your gains are less than 20% because these are gamble trades anyway, but remember, we are the house and why would we let a 100% return go?

Again, as I have preached all week, it is so much easier to sleep when you have made a 100% return and gotten out of a trade before a major news event. Yes, there are additional profits that might be left on the table but by taking what the market is practically giving us, we leave the table with our pockets full, not empty.

I’ll be back later this afternoon with an update and a possible trade or two for Friday.

Rick Rouse
Rick@OptionsMentoring.com

Monday Morning Playbook Update

Wednesday, April 15th, 2009

1:50pm (EST)

I mentioned a slew of names and trades in the Monday Morning Playbook in the Weekly Wrap Sunday night. Most of the trades have done rather well and here is a look at what has happened so far. Remember, in the Weekly Wrap I said all of these trades were with April options and the purpose was to show you how to trade option expiration week with cheap out-of-the-money calls. But I stressed the importance of being in-and-out of these trades the day before of the day after.

Monday’s trade was the Goldman Sachs (GS, $119.54, up $4.43) April 140 calls (GSDH, $0.04, unchanged) which opened at 69 cents that morning and were at $2.32 when I did an update to sell them later in the day. I had mentioned to get into them for under $1.00 if you could and the trade was good for a 200% return. Now look at how much the calls are worth. Goldman sold-off just like we thought it would after announcing plans to raise $5 billion.

I already covered the Citigroup (C, $3.77, down $0.24) and Bank of America (BAC, $9.79, down $0.30) trades this morning.

The Intel (INTC, $15.41, down $0.60) April 17 calls (NQDS, $0.02, down $0.27) were at 16 cents on Monday morning and doubled yesterday before they announced earnings. I have mentioned numerous times in the past if you are up 50%-100% before a company announces that you can always get out and take the entire risk out of the trade. We knew Intel was going to beat earnings and its was a given that they would be as quite as a church mouse when giving guidance for the second quarter. That crushed the stock but it is holding up well today. We will be looking at Intel again…there is too much to like about the company right now.

Another financial name I tossed out there was Piper Jaffray (PJC, $31.17, up $4.09) which reported earnings today. The April 30 calls (PJCDF, $1.40, up $0.95) were at 85 cents on Monday and closed at 45 cents yesterday. If you got in Monday you have made 75%, if you got in yesterday before the closing bell you made 200%. Sell them NOW.

The only trades left to be profiled are JPMorgan Chase (JPM, $31.78, up $1.08) and Google (GOOG, 369.89, up $0.98).

The JPMorgan Chase April 35 calls (JPMDB, $0.43, up $0.15) were at 77 cents Sunday night and have lost half their value. A 10% move gets the stock over $35 from current levels and I expect JP to move at least that. I also don’t think they sell-off as bad as Goldman even if they say they are doing a stock offering to raise cash. However, the momentum has faded with the financials like I said this morning so I would stay away.

As far as Googs, well, the April 420 calls (GOPDD, $1.45, up $0.57) could do well. The April 400 calls (GOPDT, $4.40, down $0.20) are trading right where they closed at last Thursday. The May 450 calls (GOPEJ, $2.40, down $0.05) are actually trading 30 cents higher from where they were profiled at. If Google can pull a rabbit out of its hat, the stock could easily soar to $425 which would be a huge return for the April calls as they would move from $4 to $25. The May 450′s would at least double.

However, if Google fails to meet Wall Street’s expectations or even if they do and the stock sells off, the April calls will expire worthless. The May calls will still be alive but it would be hard to predict what happens to them if Google shares get slammed.

I like the upside on the April calls but it’s a bet only a gambler would make. I don’t gamble (too often) and this is only a show-and-tell session. Or better yet, a mentoring session. Basically you are risking $450 to make $2,500. Will Google be the one stock that gets the bulls back in the market this week?

Rick Rouse
Rick@OptionsMentoring.com

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Trader Comments:
    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. REGINA L.

    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. STEVE T.

    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. SCOTT H.

    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 PETER G.

    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. LAWRENCE O.

    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! C.J.

    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! SHAUN

    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. MICHAEL K.

    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!
    PARAG P.

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

    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. MIKE

    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. TRISH D.

    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! MIN L.

    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! JOE G.

    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. GREG F.

    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. NOEL

    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. TODD F.

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

    “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. :) ” NOEL

    “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.” CHRISTIAN

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

    “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.” CHARLES M.

    “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.” BRYAN C.

    “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.” JOHN H.

    “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.” JEFFREY

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

    “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.” GREG

    “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.” KEN

    “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.” GARETT

    “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.” TERENCE

    Jan. 31 2012
    Rick, new member...Studied all current trades, did some chart work,picked ZNGA, PEP, MGM...Sold on Feb. 2 for $3600.00 profit...Cost for 1-year membership to your newsletter was less than $1000.00..All I have to say..Thank you. John H –

    3/18/11
    Rick, I purchased 10 contracts of the Nike March 85 puts Thursday afternoon for $2.00. Thing is, I was upset because the puts went down to $1.60 or so before the market closed. Well, needless to say Nike didn’t impress Wall Street and when I turned on the computer this morning the puts were worth $7.10! Sold them for a $5,100 profit!. Thanks again, you are the MAN. Chuck J-

    2/3/12
    Hi Rick,

    I will start off with a thank you for your time and dedication to all
    the research you and your team commit yourself to. This is not me just being excited about the profits I have accumulated aka (bank) ! You have helped me get back to the passion I had of researching stocks/options. Keith N-

    Hi Rick,

    I want to share my great results on GMCR. Based on your comments on February 15th, I bought 20 options at $0.28. They closed today at $7.00, which is a 2,300% gain. My $560 dollars turned into $14,000 in less than a month. In decades of trading, this is my single best trade ever. Thank you! By the way, the Dow was down 228 points today and I could care less. What a great trade. It proves the amazing power of options. I am so grateful for your service, which calls it straight all the time, your options trading manual, and most of all, your amazing skill
    at finding winning trades. I have attached a copy of the trade from
    my brokerage screen.

    Hi Rick,

    Wow!! my account it up 70% since i joined last month and market is going the opposite direction. Really appreciate your service. I just wanted to drop a note to say THANK YOU. Hope to be with you guys for a very long time. Mel

    Rick,

    Great call on Fosl I bought the may 120 puts for 3.70 yesterday morning just sold for $32.00 today
    Keep up the great work
    Thank you, Henri

    Rick –

    I bought 10 Deckers Outdoor (DECK) May 55 puts at $0.50 on 4/26/12 and sold them on 4/27/12 for $1.65. I made $1150 in one day. Thanks. I knew something good would happen sooner or later.
    HOW THE HECK did you know Green Mountain Coffee (GMCR) was going to go down 20 points???!!!! I bought 10 of the May 35 puts at $0.49 and then 5 more at .30. I sold them at 5.80. Thank you again.
    You have made a believer out of me. Alan

    Rick –
    I have only been a member for about 6 weeks but I have done well on most of the trades. My first two were QQQ and SPY a month ago and since then I've gotten into the groove and been doing well.
    I try to execute the trades that you recommend as soon as you send them out, sometimes I can't and I miss the Entry price. However, sometimes when I miss the Entry, the price goes down and I get a better price.
    That's exactly what happened with GMCR.
    You recommended it at around $.81 I think, but by the time I got to it, the price was $.27. I bought 100 Puts on Wednesday May 2, 2012 and sold half of them 24 hours later at $5.95 for a nice 2,203% gain. As per your recommendation, as GMCR went above $30 I sold the remaining 50 Puts at $5.50 for a slightly less 2,037% gain.
    On average that one trade netted me a 2,120% gain, entirely based on YOUR recommendation (and a little bit of luck). To put this in real terms, I risked $2,700 on Wednesday and pocketed $54,550 just 24 hours later.
    So uhh, let's do that again real soon!!
    Feel free to use my name. The tax guys have me on speed-dial already anyway. Dennis

    Rick:
    That was awesome on your GMCR pick, I know how risky it can been holding into earnings but you pulled it off. 
    I just started my autotrading with you today and am in on your QQQ play. I look forward this service. 
    I have a busy career and I have tried to follow and trade throughout the day and found it too hard. I hope you continue to have a great year, I plan to go along for the ride. I am starting slow but will pile more in once I have secured some profits. 
    Keep up the good work your trading has been spot on. I am sure you paid your dues to get this point in your career. Anthony

    Rick:

    Great call on GMCR!  I have been trading for about 15 years actively.  This may be the best trade I ever made.  Got in on Monday, April 30 and the stock was up from when you recommended it.  It went up further after I got in.  Here are the facts:
    Monday, April 30th: Bought 15 June 37's at $1.25= $1900 approx
    Thursday, May 3rd: Sold 15 June 37's at $9.30=$13,950
    Gain for the week: $12,050.
    I understand you will not get them all right.  It’s important to ride those winners and as you could tell from my selling price, I sold when the stock went to $28.10, so left a little on the table.  Who can complain.
    Keep the suggestions coming, looking for another jump on your FSLR, one that I have been riding very hard.
    Best regards, Bob
      

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