Pre-Market Update: The bulls failed to get a clean sweep on Monday, as the bears won the blue-chip battle. Volatility was also back in play heading into the end of the year. Overall, however, it was a bullish session and fresh records highs were still pushed.
Mid-Market Update: Futures were slightly higher last night as I was wrapping up my weekend homework and remained that way ahead of the opening of overseas markets. However, Greece’s inability to elect a president following its third round of elections had futures lower heading into this morning’s open here in the United States.
Wall Street closed shop early last week for the holidays, and most traders took extended vacations on Friday instead of fighting with the bulls.
Pre-Market Update: Wall Street closed shop early last week for the holidays, and most traders took extended vacations on Friday instead of fighting with the bulls.
Buy to open the T February 35 calls (T150220C00035000, $0.35, up $0.05)
Pre-Market Update: The Christmas Eve rally on Wednesday produced another round of fresh highs, but the gains faded into the close of the holiday-shortened session. Despite the pullback, the bulls held positive territory for the most part.
Mid-Market Update: The Dow has finished higher in five of the past six years, and the odds have favored the bulls as the blue-chips continue to trip new highs.
Pre-Market Update: The bulls stretched their winning streak to five-straight sessions on Tuesday, but Tech was weak and biotech stocks weighed heavily on the Nasdaq. The broader market and small-caps showed strength, and volatility stayed subdued, both of which were good signs.
Mid-Market Update: Futures stayed steady throughout the night and were higher heading into this morning’s open. This, along with the follow-through on Monday, suggested higher highs today despite a mixed bag of economic news.
Pre-Market Update: The bulls ended a three-session Monday slide, as the blue-chips pushed all-time high territory again. The S&P recorded its 50th all-time closing high of the year, but the bigger story was the small-caps.
Mid-Market Update: Futures were slightly higher ahead of the European market opening and stayed positive heading into this morning’s open here in the United States. This was a slightly bullish sign, as the bulls need a Monday win to keep their momentum and end a three-session Monday slide for the Dow.
The small-caps gave one of the best clues that a market bottom might form quickly following a back test to 1,140 to start the week, with only a one-point loss on Tuesday’s overall market slide.
Pre-Market Update: The week of December option expiration turned out to be one of the most volatile and exciting of the year. The bulls and bears were tossing triple-digit blows on the major indexes with dizzying 2%-3% intraday swings.
Trade Alerts: Buy to open the BSX February 14 calls (BSX150220C00014000, $0.45, flat).
Buy to open the JNPR January 23 calls (JNPR150117C00023000, $0.36, up $0.09).
Buy to open the JNPR April 24 calls (JNPR150417C00024000, $0.81, up $0.13).
Mid-Market Update: Futures were showing a strong open after midnight and ahead of the start of trading in overseas markets. This was a very bullish sign, and it signaled that the “chase” was on as Wall Street starts to play catch-up. Despite the bullish start, the action is relatively flat as trading winds down for the week.
Buy Bank of America (BAC, $17.63, up $0.10).
Buy JDS Uniphase (JDSU, $14.07, up $0.06).
Pre-Market Update: The bulls had jaws dropping on Wall Street on Thursday, as the V-shaped recovery has caught traders off-guard, just like I was hoping for. Even better, the market rally got stronger as oil tanked below double-nickels ($55).
Trade Alerts: Buy to open the FTNT March 32 calls (FTNT150320C00032000, $1.00, up $0.15).
Sell to close the FTNT December 29 calls (FTNT141220C00029000, $0.50, up $0.40).
Mid-Market Update: Lost in this week’s volatile action have been earnings from a number of high-profile companies. While I am looking ahead to January’s fireworks, FedEx (FDX, $171.85, up $4.07) and Oracle (ORCL, $44.53, up $3.37) both confessed to Wall Street this week.
Pre-Market Update: Low inflation is on the Fed’s list of worries, and the bulls climbed the wall of worry to clear resistance while holding their gains into the close. It was like a plot out of a Hollywood movie, as the Fed remained soft and kept rates unchanged.
Mid-Market Update: Futures have been showing higher opens after midnight, and the bulls have come out swinging on the opens this week. The problem is that the momentum is being used too early, and the major indexes have been fizzling into the close.
Pre-Market Update: It has been a while since I have used the word “epic,” but it might be the best adjective to describe Tuesday’s action between the bulls and bears. The triple-digit moves in the Dow and the nearly 100-point swing on the Nasdaq provided enough drama to make matters worse for the bulls. The bears cracked another level of support and are now close to causing mayhem on Wall Street.
Mid-Market Update: Gold ($GOLD, $1,197, up $4) tested a low of $1,130 an ounce in early November and is now trying to recover some of its luster.
Pre-Market Update: The bulls wasted all of their energy on Monday’s open following a dead-cat bounce in oil overnight. The slide in crude led to a test to double-nickels ($55/barrel), which was a level not seen since the summer of 2009.
Mid-Market Update: Futures were showing a higher open for Wall Street and held steady into the opening bell as the bulls got off to a great start. I didn’t want to see a start that was too fast and then a fade, but that is exactly what happened.
I have a lot to cover so it is crucial you absorb today’s information. I’ve done all the homework for you and the portfolio is proof in the pudding that I this is exactly what I wanted to see happen last week.
Pre-Market Update: On Fridays, I often play an office tune to reflect the current market sentiment as a way to wind down the week. I have spun some classic tunes over the years, and some of my favorites are “Squeeze Box,” “Jailbreak,” and this one, of course, “I’m Your Captain” from Grand Funk Railroad.
Mid-Market Update: It remains to be seen if Thursday’s pop was a dead cat bounce or the forming of a potential bottom. The bears have returned to the scene of the crime and are wrapping up the week on a low note.
Stop Limit triggered on Psychemedics (PMD, $14.49, down $0.04).
Pre-Market Update: The bulls showed some muscle on Thursday, but I worried about their fast start, as the monumental gains faded into the close. A good showing again today would be bullish for next week, but the bears still look hungry.
Mid-Market Update: The portfolio is in great shape to add new positions and this was the exact same way things felt in early October. This is when I started recommending a bevy of call options that did well as subscribers locked-in profits on 19 of 26 trades from then until now.
Pre-Market Update: The “Nervous Nellies” and talking heads were visibly upset with yesterday’s market pullback and once again jumped off of the bull bandwagon. I mentioned that this week’s action would shake out the weaker hands and encourage more Wall Street pros to take early vacations, but support was stretched, and that demands respect.
Mid-Market Update: The energy stocks are getting whacked again today, as over 60% of the top S&P stocks within the sector have now fallen over 30%. Incredible.
Pre-Market Update: The market went for a wild ride on Tuesday, as the bulls and bears exchanged blows in one of the more volatile sessions we have seen in weeks. The action was intense, which is why I prepared a detailed list of things to watch yesterday. It helped keep my emotions in check (and hopefully yours as well), as the game plan I covered is falling right into place.
Mid-Market Update: This morning, I covered the breakout in Pfizer’s (PFE, $31.75, down $0.22) chart and what it could mean for our option trades with February and March expirations. Now that I have reviewed the chart work, let’s take a look at the fundamentals.
Stop Limit triggered on Flextronics International (FLEX, $10.98, down $0.31).
Pre-Market Update: The bears made another appearance to start the week again, as the market fell for the second Monday in a row. The losses were less than 1%, overall, but the bulls need to be careful not to give back too much ground.
Trade Alerts: Buy to open the PFE February 33 calls (PFE150220C00033000, $0.57, down $0.09).
Buy to open the PFE March 33 calls (PFE150320C00033000, $0.68, down $0.10).
Mid-Market Update: Futures were slightly lower ahead of the overseas market opening and worsened into this morning’s open here in the United States. While this may sound strange, I was hoping for a lower open with a gradual rally into the close and, more importantly, a Monday win.
Near-term support for the Russell 2000 at 1,175-1,170 is still shaky but the test and hold to 1,150 last Monday might have been the dip Wall Street was suppose to buy. For the suit-and-ties that didn’t, they may have missed a train that is possibly headed past 1,200.
Pre-Market Update: The bulls extended their winning streak to seven-straight weeks, but tech lagged and finished lower last week. The Dow and S&P 500 showed strength, and the small-caps rebounded to end the week in positive territory.
Mid-Market Update: Wall Street’s jaw dropped following the release of this morning’s Nonfarm Payroll numbers. I mentioned yesterday that there could be a print north of 275,000-300,000, and my top-end estimate was blown away by 21,000.
Buy Brocade Communications Systems (BRCD, $11.47, up $0.10).Buy AT&T (T, $33.88, down $0.03).
Trade Alerts: Buy to open the IWM January 121 calls (IWM150117C00121000, $0.90, up $0.17).
Buy to open the QQQ January 107 calls (QQQ150117C00107000, $0.98, up $0.03).
Pre-Market Update: The market finished slightly lower on Thursday as Wall Street was waited for this morning’s Nonfarm Payrolls report. The indexes are mixed for the week heading into today’s session, with the weekly win still up for grabs. The bulls will be looking for a blowout number to signal further strength in the economy, while the bears are hoping for a number south of 200,000 jobs added.
Mid-Market Update: The market was looking for some good news regarding the European Central Bank (ECB) and its quantitative easing (QE) initiatives but has pulled back following the ECB decision to leave interest rates unchanged. ECB President Mario Draghi offered clues that QE could start in early 2015, but that wasn’t what Wall Street or the European markets wanted to hear.
Pre-Market Update: The bulls got their second-straight win following Wednesday’s trip into continued blue-sky territory. Small-caps led the way higher, but the rally was broad-based. Today’s session could be flat ahead of Friday’s Nonfarm Payrolls report.
Trade Alerts: Buy to open the JDSU January 13 calls (JDSU150117C00013000, $0.65, up $0.10).
Buy to open the JDSU March 14 calls (JDSU150320C00014000, $0.70, up $0.05).
Buy to open the AXP January 95 calls (AXP150117C00095000, $0.75, down $0.50).
Mid-Market Update: Kroger (KR, $58.78, down $0.72) will announce their quarterly earnings numbers on Thursday morning, ahead of Wall Street’s open. With shares at 52-week highs, the company will likely need an outstanding quarter with raised guidance to keep fresh 52-week peaks in play.
Pre-Market Update: The bulls got back on track to push fresh all-time highs on Tuesday. Further choppiness is likely in store for the rest of the week with Friday’s nonfarm payrolls report in the mix. However, the blue-chips are on the verge of cracking 18,000, which could be the tide that lifts all boats.
Mid-Market Update: Although third-quarter earnings season has mostly come and gone, there are a number of other high-profile companies reporting earnings this week that are worth watching. Below is a list of the ones I will be looking at, and I will likely have a trade on two on some of these announcements. I still need to do the research and chart work, but here are the stocks I’m watching.
Pre-Market Update: The Negative Nancy’s were back in force on Monday following the bears’ first Monday blue-chip win in a month. The other indexes struggled as well, with small-caps leading the way lower. The talking heads jumped back off of the bull wagon, but it won’t be long before the train leaves the station for higher highs.
Mid-Market Update: Futures were pointing towards a decent pullback throughout the night and into this morning’s open, as Wall Street welcomes in the last month of trading for the year. I mentioned that this week could be a little rocky following six weeks of gains and, with tax-selling season underway, the bears are enjoying their moment.
Stop Limit triggered on Aruba Networks (ARUN, $18.77, up $0.06) Covered Call Trade.
The bulls wrapped up their sixth-straight week of gains and dominated November’s action with all-time highs. The market clearly has momentum, and December is historically a bullish month. However, the Russell 2000 did finish slightly lower by less than a point and remains the wild card.
Pre-Market Update: The bulls wrapped up their sixth-straight week of gains and dominated November’s action with all-time highs. The market clearly has momentum, and December is historically a bullish month. However, the Russell 2000 did finish slightly lower by less than a point and remains the wild card.
Mid-Market Update: Shares of Hewlett-Packard (HPQ) are trading higher despite earnings that fell short of Wall Street expectations. The company reported a profit of $1.06 a share on revenue of $28.4 billion. The suit-and-ties were looking for $1.06 a share on sales of $28.76 billion.
Trade Alert: Take profits and sell to close half of the VEEV December 32 calls (VEEV141220C00032000, $1.00, up $0.40) at current levels.
Stop Limit triggered on the second half of the SBUX December 80 calls (SBUX141220C00080000, $1.30, down $0.20).
Pre-Market Update: The bears took three of the four major indices on Tuesday and got a rare win in November. The bulls kept the losses in check after tapping another fresh all-time high on the open, but the pullback to lower lows was a slightly bearish signal.
Mid-Market Update: The bulls made a run to fresh all-time highs at the start of trading but have given back the majority of the gains. Tech and the small-caps are holding up, however, as the bears struggle for momentum.
Trade Alert: Take profits and sell to close half of the QQQ December 105 calls (QQQ141220C00105000, $1.15, up $0.12) at current levels.
Take profits and sell to close half of the QQQ January 106 calls (QQQ150117C00106000, $1.30, up $0.10) at current levels.
Pre-Market Update: The bulls continued their winning ways on Monday, as Tech and the small-caps led the way higher. The bears tried to make some noise, but their efforts stalled at fresh support.
Mid-Market Update: Futures were showing a flat open throughout the night and into this morning’s open as Wall Street prepared for a slow week. The majority of third-quarter earnings season has come and gone, but companies report earnings daily on Wall Street depending on their fiscal year.
Pre-Market Update: The bulls wrapped up their fifth-straight week of gains from the mid-October lows following Friday’s breakout to fresh all-time highs. The bears made an appearance after volatility became elevated on the Fed minutes, but the back test to support held throughout the week.
The major indexes are still on track to trip my year-end targets from February, and I’m already starting homework on how 2015 might play out. December will be a pivotal month, though this week’s action could be subdued, but the good news is that the week of Thanksgiving is usually a bullish one.
Mid-Market Update: Futures were showing a strong open this morning following comments from Mario Draghi and news of China’s rate cut. Both events were enough to push the market to fresh highs on the open, and the gains are holding as we make the turn into afternoon trading.
Pre-Market Update: The market rebounded on Thursday to test resistance and prior highs, as the momentum held into the close. The mini trading range from last week continued but with higher highs. Today’s close could offer clues on how next week will play out, though the action continues to favor the bulls.
Mid-Market Update: Best Buy (BBY, $37.75, up $2.21) shares are surging 6% today after the company beat Wall Street’s estimates in its latest quarterly report.
Pre-Market Update: The bulls did well recovering from the lows on Wednesday, but the action in the small-caps was either a warning sign or the last time this year Wall Street might have been able to catch the train to higher highs.
Mid-Market Update: With the market at fresh highs, the saying “this has become a stock pickers’ market” has become more pronounced as Wall Street looks for new ideas. I’m always full of “ideas,” as my goal is to capitalize on a 5%-10% move in a stock that allows me to make double- and triple-digit profits with the right options.
Trade Alert: Take profits and close the SPLS December 14 calls at current levels.
Staples (SPLS) reported a better-than-expected quarter, and shares are surging past $13 in pre-market trading. I wanted to update the current position on SPLS heading into the open, and possibly afterwards, so everyone is on the same page.
Pre-Market Update: The market continued its historic run on Tuesday, as the bulls pushed fresh all-time highs and left Wall Street speechless while fund managers continue to wait for a pullback. The traders that took advantage of the October pullback, like us, continue to enjoy happy hour, but it’s important that we pace ourselves and continue to watch the action.
Mid-Market Update: Wall Street will be rolling out the red carpet for Best Buy (BBY, $34.47, down $0.82) on Thursday morning as the company confesses its latest earnings numbers.
Pre-Market Update: The bears made some noise on Monday, but the result was another failed test at slowing the bulls’ momentum. The broader market rebounded to post slight gains, while Tech and the small-caps suffered losses and languished near short-term support.
Stop limit triggered on Bank of America (BAC).
Mid-Market Update: Third-quarter earnings season is winding down this week, as the off-cycle companies start to report their numbers into December depending on their fiscal years. The second week of January is when fourth-quarter numbers and 2015 guidance will take center stage.
Pre-Market Update: The bulls brushed back the bears’ feeble attempts to change momentum last week, as the charge to all-time and decade-highs continued. The major indices were higher for the fourth-straight week and are showing steady gains in a historically bullish month.
The bulls brushed back the bears’ feeble attempts to change momentum last week as the charge to all-time and decade highs continued. The major indexes were higher for the fourth-straight week and are showing steady gains in a historically bullish month.
Mid-Market Update: I’ve been waiting for some late-day clues to see how next week might play out, and all signs are pointing towards higher highs. The final hour of trading can always get interesting, so happy hour won’t officially start until 4:01 p.m. ET for some Wall Street traders.
Pre-Market Update: The bulls looked good on paper following Thursday’s pop to new highs. However, the late day fade and rebound did some damage, as the small-caps failed to recover.
Trade Alert: Buy to open the BBY December 39 calls (BBY141220C00039000, $0.60, up $0.05).
Mid-Market Update: The Retail sector has been in focus lately, along with Homebuilding stocks, and both sectors have shown some strength this week.
Pre-Market Update: The bulls continued to push fresh highs on Wednesday even as the market ended mixed. The bears got slight wins on the broader market, while the bulls took Tech and the small-caps. The strength in the Russell was the real story, as the small-caps finally cleared a key level of resistance.
Mid-Market Update: The bears have controlled much of today’s action following five consecutive days of record closes. The bulls are bouncing off of the lows heading into the second half of trading, but I talked about the possibility of a trading range forming this week and possibly into next week before another “breakout” to fresh highs.
Pre-Market Update: The lack of action in Tuesday’s session favored the bulls, as the major averages continued their record run into blue-sky territories. Wall Street is having a hard time buckling up with other suit-and-ties that are still waiting at the train station with the bears. The game of musical chairs is getting crowded, so it is still important to listen to the music.
Trade Alert: Stop limit triggered on the JPM December 62.50 calls (JPM141220C00062500, $0.70, down $0.20).
Buy Discovery Laboratories (DSCO, $1.60, up $0.01) common stock at current levels.Sell to open the DSCO April 2015 $2 calls (DSCO150417C00002000, $0.40, flat).
Mid-Market Update: The market has traded in a tight range throughout today’s session, with both the bulls and the bears getting in on the action. Economic news has been light and, with the bond market closed, trading has been choppy but quiet.
Pre-Market Update: The bulls got back on a Monday win streak and continued to push fresh highs in yesterday’s session. The technical picture still points towards higher highs, but the small-caps and VIX keep teasing the scene.
Mid-Market Update: The bulls are dropping some good Monday clues that higher highs are in store. The blue-chips have gotten the green light for a possible run to 18,000 while the VIX continues to work its magic.
Once Wall Street recognizes that the Nasdaq is headed for a test of its all-time highs, there could be some chasing. All that money on the sidelines will be itching to go to work as fund managers who have underperformed the market start to panic.
Pre-Market Update: Stocks were tepid heading into last week, as mid-term elections and economic news played a major role in the direction of the market. The bulls were on the brink of revisiting all-time highs, while the bears were looking to get back on track.
Trade Alert: Take profits and sell to close half of the SBUX December 77.50 calls (SBUX141220C00077500, $1.80, up $0.10).
Mid-Market Update: I wanted to provide another update to my previous take on Alibaba (BABA, $114.44, up $2.87), as there has been intense action since shares went public back in September when nearly everyone was calling for a market top.
Pre-Market Update The bulls kept their momentum by pushing new all-time highs on Thursday and are looking for another “breakout” on a good Nonfarm Payrolls report this morning.
Mid-Market Update: I had been working on an “education” article for today’s update that I hoped to be ready but realized I was running out of time. My attention has been focused on the Republican party today, as I wanted to see what rhetoric they were spinning.
Trade Alert: Buy to open the SBUX December 80 calls (SBUX141220C00080000, $0.70, up $0.10).
Pre-Market Update Wall Street finished higher on Wednesday despite the bears’ best efforts to limit the gains. Another fresh all-time high was set by the bulls, but the choppy action was frustrating, as Tech failed at its second layer of resistance for the third session in a row.
