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MomentumOptionsTrading.com Morning Update for 12/02/09

Wednesday, December 2nd, 2009

It’s as if the Dubai news never happened…

The market picked up more momentum on Tuesday, as the Dow added 126 points to close at 10,471. We mentioned in the Weekly Wrap there was evidence of “baby bulls” when we were talking about Friday’s market correction…

“The Dow was pressured right from the jump and at one point sank to a low of 10,230 before finishing the day with a 154 point decline. We had factored in a drop to 10,100 but during the panic, the “baby” bulls stepped-in and lifted the market. The Dow had started the week at 10,318 and we ended at 10,309. The fact this level held while Wall Street was on vacation was impressive given the curve ball we got.” (END)

If you remember, the first reports of the Dubai World debacle had the debt at $60 million and whispers were calling for as much as $80 million in the hole. The fact that they are working to restructure a smaller debt ($26 billion) has put the event in Wall Street’s rear-view mirror.

In fact, the bulls pushed the Dow above 10,500 for the first time since October of last year. We have been calling for Dow 10-8 and given the trend it seems like that target could be reached.

However, let Friday’s “warning” ALWAYS be a reminder that you should try to have both call AND put options in your portfolio. If you will look at all of our trades from 2009, month-to-month, you will notice we like to follow this rule. Sometimes we get caught too and we were stopped out of some nice trades but don’t let these “events” scare you.

We want momentum, either up or down. In other words, we want action. The bulls have been pretty much unstoppable since March and we will top out at some point. Until then, all we can do is play the trend because after all, the trend is your friend…

The dollar continues to get pounded like a porn star and at some point, it too, will rebound. The current trend has been a weaker dollar and a higher stock market. This pattern that has played out for months and we will have to wait and see at what point this doesn’t work anymore.

And Gold…we are already hearing cat calls of $1,600 and Gold $2,000. That worries us but at the same time we continue to watch the gold stocks go bananas. Barrick Gold (ABX, $46.07, up $3.38) jumped another 8% yesterday and set a 52-week high in the process.

We spotted the potential breakout in Barrick Gold back in November and for those of you who have yet to see our Members Area; here was the trade on 11/3/09 that returned our subscribers 38% in two days. (Quotes are from that day)

“Barrick Gold (ABX, $38.97, up $2.46)

Buy to OPEN November 40 calls (ABXKH, $1.20, up $0.73)

These calls have been exploding this morning. They OPENED at 40 cents and we started watching them at 60 cents. These calls could make a run to $2.00 and they are moving fast. Do not pay over $1.30-$1.35 for them. This will only be a one or two day trade and the stock appears to be headed to over $40. Its 52-week high is $42.10.” (END)

If you will notice, our trade setup was for a one or two day window and we followed our trading plan to a “T” by closing the call options for $1.65. We should have stayed on the action and maybe we should have rolled some of those profits into the December 45 calls (ABXLI, $2.20, up $1.49) which zoomed 200% yesterday but we didn’t see the continued breakout in the stock.

We still don’t know how high gold goes but one thing is clear, it is on a roll right now.

Tags: Barrick Gold, momentum stock option trading, option trading online, option trading picks, options mentoring, options newsletters, options track record, support and resistance levels, triple-digit option trades
Posted in Gold, Hot Stocks, Market Analysis, Market Commentary, Option Trades, Trading Psychology | Comments Off

Gold Tops $1,200

Tuesday, December 1st, 2009

1:10pm (EST)

The bulls have pushed the market back to pre-Thanksgiving highs as the Dow is enjoying a 118 point gain and now stands at 10,463. The S&P 500 is back over 1,100 and is up 12 to 1,108 while the Nasdaq is up 31 points to 2,175.

We got a couple of mixed economic reports at 10am, but the news still gave the bulls confidence.

The Institute for Supply Management number came in at 53.6 in November from 55.7 in October. Not a good number as we had mentioned that Wall Street was looking for double nickels (55).

We got a huge housing number surprise. The National Association of Realtors said sales agreements rose 3.7% in October from September. It was the strongest level in over 3 years and a gain of over 30% from a year earlier. Many on Wall Street had expected the index would fall but we have been telling you that there may be a trade in the sector.

Gold continues to hit record highs and has topped $1,200 an ounce today. The yellow metal continues to be a safe haven and is up another $15 on a weaker dollar and policy comments from the Bank of Japan.

We would love to talk about more today but we want to get our subscribers into the Members Area. We have plenty to talk about with our current trades and there may be a couple more trades in the morning that we may add…

Tags: momentum stock option trading, option trading online, option trading picks, options mentoring, options newsletters, options track record, support and resistance levels, triple-digit option trades
Posted in Economic News, Market Analysis, Market Commentary | Comments Off

Market Looking At A Higher Open

Tuesday, December 1st, 2009

9:10am (EST)

The market managed to end the month of November with a slight gain as the Dow added 35 points yesterday and finished at 10,344. The Dow and the S&P 500 rose more than 5% in November, their biggest monthly gain since July.

The S&P 500 closed at 1,095, up 4 points yesterday while the Nasdaq closed at 2,144, up 6. The market got its second wind in the afternoon when Dubai World said that its talks with banks revolve roughly $25 billion in debt, a number that is much smaller than the $60-$65 billion that has been floating around.

As a result, the Financial stocks traded higher and closed at their best levels in yesterday’s trading. Bank of America (BAC, $15.85, up $0.38), JPMorgan (JPM, $42.49, up $1.16) and American Express (AXP, $41.83, up $0.99) all had gains of over 2%.

On the flip side, American International Group (AIG, $28.40, down $4.90) dropped 15% yesterday and we were able to get our subscribers into an AIG trade that netted them nearly 50% on half of their positions in just a few hours. We update the trade this morning in the Members Area.

As far as today, we will be watching for the Institute for Supply Management (ISM) number which is due out at 10am. U.S. manufacturing activity is likely to show continued growth in November as Wall Street is expecting a reading of 55 in November, compared with 55.7 reading in October. A reading above 50 indicates growth which is what we would like to see.

Also at 10am, we get a look at construction spending. Economists expect construction spending to have declined 0.5% in October following a 0.8% rise in September. The National Association of Realtors will also release its pending home sales index for October.

As we head to press, the Dow futures are up 63 points to 10,397. S&P 500 futures are higher by 8, to 1,103, while the Nasdaq 100 futures are up 17, to 1,784. Current subscribers, please check the Members Area for the trade updates.

Dendreon Rumors Making Rounds Again

Monday, November 30th, 2009

1:00pm (EST)

It’s been another battle today as both bulls and bears struggle to gain momentum. The Dow opened with a slight loss and traded to a low of 10,273 before bouncing back and touching a high of 10,364. As Wall Street gets ready for the 2nd half of today’s action, the Dow is currently down 30 points to 10,280.

The market got a lift after the November Chicago PMI came in at 56.1, which was better than the 53 estimate that had been expected and is up from the 54.2 number we got last month. It looks like business activity in the U.S. Midwest is picking up.

As far as specific stocks we are following today…

Dendreon (DNDN, $27.33, up $0.09), which is frequently mentioned here at MomentumOptionsTrading.com, is getting a little bump today on rumors that AstraZeneca (AZN, $44.59, down $0.70) is looking at acquiring the company for $40 a share. We have been following this stock for nearly three years now and we have repeatedly said that we think Dendreon is a takeover candidate.

We have also mentioned the market potential of the company’s Provenge drug could be as high as $2.5 billion. The company will also host an Investor Conference on Tuesday from London. Hmmm…it’s too early to draw conclusions but the CEO himself has said they are looking to partner with someone overseas.

Other water-cooler talk we are hearing…Illumina (ILMN, $28.56, down $0.06) could be on Johnson & Johnson’s (JNJ, $62.57, down $0.32) list as an acquisition target. There are rumblings that JNJ could offer up to $38 a share for the company. Illumina has been a potential takeover target for months now and there are several firms on Wall Street who believe the same thing.

It looks like we missed the big move in American International Group (AIG, $29.30, down $4.00) this morning. We have a history with this company as well. In July, we profiled two bearish trades in AIG that made our subscribers 70% and 130%, respectively, on put options. We have been hesitant to go back to the well because of the volatility and the fact that the stock had been making new highs. In August the stock traded to a high of $55.

We had noticed the consolidation in the $35 area recently but today’s break below $30 has our attention. Today’s 12% drop in the shares have been a windfall for option traders. We think there could be further weakness and we take a look at some put options in the Members Area that are up a whopping 360% today!

Tags: American International Group, AstraZeneca, Dendreon, Illumina, momentum stock option trading, option trading online, option trading picks, options mentoring, options newsletters, options track record, support and resistance levels, triple-digit option trades
Posted in Company Commentary, Market Analysis, Trading Tips, Watch Lists | Comments Off

Market Looking For Direction

Monday, November 30th, 2009

9:05am (EST)

Futures are pointing to a lower open this morning as Wall Street tries to balance concern about fallout from Dubai’s debt crisis against good Black Friday news. Dubai’s market, which was opened today for the first time since the news announcement, fell nearly 6%.

Futures were higher as we headed to press last night. The Dow futures were up over 50 points but are now up only 18 after being lower by 10 earlier this morning.

There is worry that a $60 billion Dubai debt default could touch off a new round of credit market worries, which plagued stocks last year as Lehman Brothers collapsed and banks stopped lending to each other. Wall Street will be watching these developments and we are sure there are other fallouts to come from this.

One thing that could help the market today is the holiday shopping season. Preliminary figures show sales rose 0.5% on Friday, and online sales jumped 11% Thursday and Friday.

Gold is down $4 to 1,170 an ounce.

The market is showing mixed signals but we still like a couple of trades for today. Both are covered in the Members Area this morning…

Tags: momentum stock option trading, option trading online, option trading picks, options mentoring, options newsletters, options track record, support and resistance levels, triple-digit option trades
Posted in Company Commentary, Market Analysis, Market Commentary | Comments Off

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Our updated 2012 Track Record is now at 85-18 for an 82% win rate. We have closed 24-straight winning option trades since late March!

Despite the recent volatility, we have given more "locks" to our subscribers than a Vegas bookie. If you started with a $10,000 trading account, our CLOSED option picks would have made you over 600% by now. In other words, YOUR $10,000 option trading account would be worth over $70,000 as we have become one of the most powerful option newsletters in the business. Our biggest trade of the year so far was hit in early May when shares of Green Mountain Coffee Roasters (GMCR) fell 50% after an earnings miss which made our subscribers 576% on the put options!

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We don't play these types of games which is why we have the most dedicated subscribers in the business because we have earned their trust. We have recommended 103 trades, 85 winners, 18 losers for 2012. Pretty simple and pretty powerful. We also have verified auto-trading partners who trade our recommendations for your account if you cannot watch the market. They will also tell you how good and how honest our service is.

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Our Weekly Wrap is 35-0 since the start of 2011 and is 17-0 for 2012. Some of our winners include +55% on Solazyme (SZYM), +27% on Clean Energy Fuels (CLNE), +38% on Vivus (VVUS), +17% on MGM, +18% on Dendreon (DNDN), and +20% on Darling (DAR). Despite what the suit-and-ties say, you can make incredible gains trading the RIGHT covered calls.

Over the past 5 years we are averaging a 75% winning percentage for all our trades despite volatile, flat and choppy markets. Come see why some of Wall Street's pros are following us instead of the Journal!

Here are some of our profitable 2011 recommendations: ORLY call options +191%, VMW call options +100%, JOYG call options +169%; GS put options +184%; FDX put options +164%; OXY put options +74%; +137% on RIMM put options, +1,167% on RMBS puts in 11 days, +296% on FCX calls; +157% on ZAGG calls; +110% on LNKD puts; +133% on RLD put options.

You can also request our Track Records to see all years by entering your email address which will allow you access to the portfolios.

If you are missing these juicy profits, come give us a try. Get your password to our Members Area instantly when you sign up TODAY! One profitable trade will easily pay for your membership. You can request our 2008-2011 Track Records by sending us an email or filling out the box below. 665 Total Trades; 459 WINNERS or 7-out-of-10.

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

Posts Tagged ‘option trading picks’

MomentumOptionsTrading.com Morning Update for 12/02/09

Gold Tops $1,200

Market Looking At A Higher Open

Dendreon Rumors Making Rounds Again

Market Looking For Direction