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Thursday, January 5th, 2012
9:00am (EST)
The market spent much of Wednesday’s session trying to get back to even after starting the day lower. Following Tuesday’s pop higher, we expected a flat day or pullback as the bulls seemed reluctant to go all-in with today’s unemployment numbers due out which we will go over in a minute.
As far as the Santa Claus rally that the talking heads have forgotten about, it came and went unnoticed which is fine by us. We mentioned over the holidays that Wall Street and some of the pros like to take the last 10 days off of the year and that the “Santa” rally officially begins the last 5 trading days of the year and the first 2 of the New Year.
Although last week was slightly negative and yesterday was a wash, the gains on Tuesday were good enough to say this phenomenon came true again this year. The Dow gained 1.6%, or 200 points, while the S&P 500 and Nasdaq advanced 1.9%, or 23 and nearly 50 points, respectively.
As far as Wednesday’s action, the Dow gained 21 points to finish the session at 12,418. The blue-chips traded to a high of 12,430 while the low was 12,337 which was prior resistance and is now short-term support. We are still expecting a run to 12,575-12,600 with a shot at 12,800 if the bulls can hold current levels and get some more good news.
The S&P added a quarter-point to settle at 1,277. The index tested a low of 1,268 and held support while the high for the day was 1,278. We are still expecting a run up to 1,300-1,325 with short-term support holding at 1,250.
The Nasdaq fell a third of a point to end at 2,648. Tech briefly traded in the green and above 2,650 to a peak of 2,653 but spent much of the session in the red after testing a low of 2,627 at the open. We were looking for 2,625 to hold with backup at 2,600. Some of the bigger Tech names could get the Nasdaq past 2,675-2,700 if earnings come in better-than-expected but this could be wishful thinking if we continue to stall at 2,650.
The jobs numbers were good/ bad and we will cover the details this afternoon. We also have a chart we want to show you on a stock we are sure many of you are pretty familiar with.
As far as futures, they are pointing towards a slightly lower open. Dow futures are down 33 points to 12,323. The S&P futures are lower by 5 points to 1,268 while the Nasdaq futures are showing a decline of 4 points to 2,324.
We have a lot to cover this morning so let’s get on it. Subscribers, check the Members Area for the updates.
Tags: binary options, call options, futures options, high beta stocks, Hot stocks, momentum options, Momentum stocks, option market, option tips, options, options mentoring, options trading, options trading course, stock market options, weekly options, what are options
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Tuesday, January 3rd, 2012
1:35pm (EST)
We mentioned last night although Christmas is over, the Santa Claus rally officially had two more trading days…
The market is getting a nice pop today following good news from overseas as strong manufacturing numbers from Australia, China, and India put Wall Street in a good mood before the opening bell. Germany also saw a lower unemployment rate this morning while here at home, the ISM Index and Construction Spending numbers came in better-than-expected.
China’s PMI (Purchasing Manager Index) numbers were released over the weekend and showed expansion in December after posting a reading of 50.3, up from 49 in November. Non-manufacturing industries for China were also up and came in at 56 versus a print of 49.7 in November. Both figures caught most economists off guard as a reading over 50 shows expansion. In India, PMI rose the most in 6 months.
Of course, the next hurdle, will be the FOMC Minutes which will be released at 2pm (EST) sharp. There is a chance for a “QE3” announcement but the Fed has been steady in its comments and will likely sit on the sideline with Europe simmering down somewhat.
The Dow is up 186 points to 12,404 while the S&P is higher by 19 to 1,276. The Nasdaq is gaining 39 points and is at 2,643. The surge higher has meant good news for our open positions so let’s go see where we are at. We also have 2 NEW TRADES we are releasing today.
Subscribers, check the Members Area for the updates.
Tags: binary options, call options, futures options, high beta stocks, Hot stocks, momentum options, Momentum stocks, option market, option tips, options, options mentoring, options trading, options trading course, stock market options, weekly options, what are options
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Tuesday, January 3rd, 2012
9:00am (EST)
The bulls were facing an uphill battle on Friday as they tried to end the week and 2011 on a positive note. The major indexes were slightly lower heading into the last trading day of the year and futures were flat heading into the opening bell. Following a strong rally and rebound on Thursday, this wasn’t a good sign for a run past resistance.
History was also against the bulls as the Nasdaq had closed lower 9 of the last 10 years. Make it 10-for-11. Before the slide, Tech was up 29 years in-a-row from 1971 thru 1999. The S&P 500 had been down 7-out-of-8 on the last trading day for the year and that streak was extended to 8-for-9.
We were hoping for a “flat” day but the drift lower persisted into the close despite light volume. As you will see, the longer-term charts are still bullish for 2012 even if there is a significant pullback near-term. While we are still hopeful this is not the case, the market will face a number of headwinds this week and next with the start of 4Q earnings season.
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If you are not a subscriber but would like to read more and check our chart work for the Dow, S&P 500 and the Nasdaq please click here. We are one of the fastest growing stock options trading advisors on the internet and we are one of the few option newsletters which posted a powerful 2011 return. We offer powerful call and put option trades aimed at triple-digit returns for our Daily newsletter. Our Weekly Wrap Covered Call Portfolio strides for double-digit returns on a monthly basis. Sign-up now and receive access instantly!
Tags: binary options, call options, futures options, high beta stocks, Hot stocks, momentum options, Momentum stocks, option market, option tips, options, options mentoring, options trading, options trading course, stock market options, weekly options, what are options
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Monday, January 2nd, 2012
11:00pm (EST)
1. Market Summary
2. Earnings
3. Weekly Wrap Portfolio Update
4. Week Ahead
(To view the charts, please log into the Members Area and go to the Weekly Wrap Premium section)
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If you are not a subscriber but would like to read more and check our chart work for the Dow, S&P 500 and the Nasdaq please click here. We are one of the fastest growing stock options trading advisors on the internet. We offer powerful call and put option trades aimed at triple-digit returns for our Daily newsletter. Our Weekly Wrap Covered Call Portfolio strides for double-digit returns on a monthly basis and finished 2011 with a 16-0 track record. We have up to 6 double-digit return trades which could be closed this month if shares are “called-away”. Sign-up now and receive access instantly!
Tags: binary options, call options, futures options, high beta stocks, Hot stocks, momentum options, Momentum stocks, option market, option tips, options, options mentoring, options trading, options trading course, S&P 500 and the Nasdaq please click here. We are one of the fastest growing stock options trading advisors on the internet. We offer powerful call and put option trades aimed at triple-digit retur, stock market options, weekly options, what are options
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Friday, December 30th, 2011
9:05am (EST)
The shortened Wall Street week has been full of surprises but the week and the year comes down to today on if the indexes will finish with a loss or gain on both fronts. Following a flat Tuesday, the bears took a 1% bite out of the major indexes on Wednesday with the bulls getting much of the losses back on yesterday’s rally.
The Dow advanced 136 points, or 1.1%, to settle at 12,287. The index ran green from start to finish and reached a peak of 12,293 which was once again just short of resistance. The blue-chips are still down 7 points for the week but should easily finish the year with a solid gain as the index is up a little over 700 points.
The S&P 500 jumped a lucky 13 points, or 1.1%, to finish at 1,263. The index went out near its high but failed to clear resistance after holding support on Wednesday and Thursday’s open. The S&P is down 2 points for the week but is now up 6 points for the year and today’s action will likely decide who gets the win between the bulls and bears.
The Nasdaq added 24 points, or 0.9%, to close at 2,613. The index was able to recapture the 2,600 level and went out a point off its high. We have been talking about the 2,650 level for the last few weeks and Tuesday’s high was 2,633. The bulls will need to clear 2,618 and 2,653 today to get Tech into positive territory for the week and year.
We have made it no secret Tech has us worried going into 4Q earnings (which start in January) and the Nasdaq can look so ugly at times. However, support seems to hold just as the index appears ready to fall off a cliff. To prove our point, look at Amazon.com (AMZN, $173.86, down $0.03) which ended the day in the red after touching a low of $167 on a downgrade, yet, the Nasdaq was up nearly 1%.
The bears may have wasted a bullet on that call because we think Wall Street is underestimating Amazon’s sales. Sure the Kindle Fire is losing money but we doubt analysts have any clue just how much revenue this company could earn for the current quarter. Earnings are late-January for Amazon.
We could have a busy day with the addition of a trade or two so look for alerts by 11am if we do decide to take action. We usually don’t open new positions ahead of a 3-day weekend but if our upside or downside targets trigger, we may take small positions.
Futures are slightly lower as we head to press and look like this: Dow (-4); S&P 500 (–1); Nasdaq (-2).
Tags: option alerts, option trading, option trading services, options momentum trading, options on stock, options trading, options trading service, stock option trade, trade in options, weekly options trading
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Santa Claus Rally Ends With Gains
Thursday, January 5th, 2012
9:00am (EST)
The market spent much of Wednesday’s session trying to get back to even after starting the day lower. Following Tuesday’s pop higher, we expected a flat day or pullback as the bulls seemed reluctant to go all-in with today’s unemployment numbers due out which we will go over in a minute.
As far as the Santa Claus rally that the talking heads have forgotten about, it came and went unnoticed which is fine by us. We mentioned over the holidays that Wall Street and some of the pros like to take the last 10 days off of the year and that the “Santa” rally officially begins the last 5 trading days of the year and the first 2 of the New Year.
Although last week was slightly negative and yesterday was a wash, the gains on Tuesday were good enough to say this phenomenon came true again this year. The Dow gained 1.6%, or 200 points, while the S&P 500 and Nasdaq advanced 1.9%, or 23 and nearly 50 points, respectively.
As far as Wednesday’s action, the Dow gained 21 points to finish the session at 12,418. The blue-chips traded to a high of 12,430 while the low was 12,337 which was prior resistance and is now short-term support. We are still expecting a run to 12,575-12,600 with a shot at 12,800 if the bulls can hold current levels and get some more good news.
The S&P added a quarter-point to settle at 1,277. The index tested a low of 1,268 and held support while the high for the day was 1,278. We are still expecting a run up to 1,300-1,325 with short-term support holding at 1,250.
The Nasdaq fell a third of a point to end at 2,648. Tech briefly traded in the green and above 2,650 to a peak of 2,653 but spent much of the session in the red after testing a low of 2,627 at the open. We were looking for 2,625 to hold with backup at 2,600. Some of the bigger Tech names could get the Nasdaq past 2,675-2,700 if earnings come in better-than-expected but this could be wishful thinking if we continue to stall at 2,650.
The jobs numbers were good/ bad and we will cover the details this afternoon. We also have a chart we want to show you on a stock we are sure many of you are pretty familiar with.
As far as futures, they are pointing towards a slightly lower open. Dow futures are down 33 points to 12,323. The S&P futures are lower by 5 points to 1,268 while the Nasdaq futures are showing a decline of 4 points to 2,324.
We have a lot to cover this morning so let’s get on it. Subscribers, check the Members Area for the updates.
Tags: binary options, call options, futures options, high beta stocks, Hot stocks, momentum options, Momentum stocks, option market, option tips, options, options mentoring, options trading, options trading course, stock market options, weekly options, what are options
Posted in Market Analysis, Market Commentary | Comments Off