Bulls Huff and Puff; Rally Fades
Mid-Market Update: Futures were showing a very strong open throughout the night and into this morning’s open despite the nervousness from around the globe.
Mid-Market Update: Futures were showing a very strong open throughout the night and into this morning’s open despite the nervousness from around the globe.
Pre-Market Update: It was a bullish Thursday on Wall Street, as the major averages opened higher, set record highs and held positive territory throughout the day. It is hard to define “resistance” with the broader market setting fresh all-time highs, as the higher fluff targets I have given are coming into play. However, tech and the small-caps still have hurdles to clear before I go “all-in.”
Mid-Market Update: The broader market is once again pushing fresh all-time highs as Wall Street braces for Alibaba’s (BABA) IPO, September option expiration and the Scot’s.
Trade Alert: Buy to open the ARUN October 23 calls and the SPLS December 14 calls at current levels.
Trade Alert: Sell to close the MGM November 22 puts at current levels.
Stops triggered on SNE October 20 calls and SNE January 20 calls.
Pre-Market Update: The knee-jerk reaction to the Fed minutes on Wednesday was expected, but the bulls had to wait for Janet Yellen’s comments before they were allowed to roam.
Mid-Market Update: The Fed’s minutes are due out shortly, and the tension is tight as Wall Street awaits what wording and language will be added, removed or left the same. This is one of many hurdles coming this week, as Thursday will be focused on the Scot’s, while Friday is September options expiration.
Pre-Market Update: I told you that it has been hard to bet against the bulls this year (and last), and yesterday they showed why. Of course, with volatility picking up and continued breaking headlines the rest of the week, the bears aren’t out of the game. However, yesterday’s action was a clear sign of momentum reversal, with the Dow setting an all-time record high.
Buy Vanguard Natural Resources (VNR, $29.43, up $0.37) at current levels.
Trade Alert: Buy to open the FCX October 35 calls and the FCX November 36 calls.
Mid-Market Update: The action has been mixed today, and I had penciled in a flat session as the Fed reviews its monetary policy over the next two days. The bulls have shown some strength following Monday’s drubbing and held support on the bearish attack at the open. There is still a second half of trading, but the pullback Wall Street wanted may have come and gone if resistance clears.
Stop Limit triggered on Avanir Pharmaceuticals (AVNR).
Pre-Market Update: The bears did some damage on Monday despite the blue-chips trading higher, as the next waves of support came into play. The bulls did their best and held the attack while trying to regain some momentum, but yesterday’s fight was over shortly after it began.
I wanted to give a brief update on Monday’s new addition to the Weekly Wrap portfolio.
Trade Alert: Buy to open the SNE October 20 calls and the SNE January 20 calls at current levels.
Buy AVNR stock at current levels with expectations on exiting in the mid-teens.
Full disclosure — I own shares of PZZI, so I made a road trip this weekend to Pie Five, one of Pizza Inn’s trademarked brands, to learn more about their story and, more importantly, try their pizza.
Mid-Market Update: Futures were showing a nasty open throughout the night but improved dramatically ahead of this morning’s open. The action and clues from last night were suggesting an opening pop and drop and, heading into the second half of trading, that synopsis is playing out.
Trade Alert: Sell to close half of the MGM October 24 puts and half of the MGM November 22 puts at current levels.
Wall Street is worried about September, but I’m more interested in October. I would love to get confirmation that a 5%-10% correction is coming, as I will use put options to make money for our portfolio. While some call options may pullback, I have used longer-term options to protect the positions from volatility.
Pre-Market Update: The month of September is always a tricky month to trade despite the historical patterns for fall pullbacks. They can’t always be counted on, however, as Septembers over the past few years have been bullish, but history may be returning to normal.
Mid-Market Update: The bears have controlled today’s action and are now on track to win the week. A final hour rally by the bulls is possible as they have shown strength into the close over the past few days, but all signs are pointing towards continued weakness into next week.
Pre-Market Update: The bulls showed up in the final hour of trading and nearly got the sweep on Thursday.
Mid-Market Update: There is all kinds of bullish and bearish news to talk about so it’s hard to pick a starting point.
Trade Alert: Sell to close the WWE September 15 calls.
Pre-Market Update: The bulls showed some strength yesterday following the early morning weakness and avoided a late-day collapse to snap a two-session slide. The recovery in tech and the small-caps led the way, but the saber-rattling after the close is still a cause for concern.
Mid-Market Update: I had penciled-in some weakness for this morning’s open and was looking for a rebound by the second half of trading that could possibly propel the bulls for an end-of-week rally.
Trade Alert: Buy to Open the MGM October 24 puts and the MGM November 22 puts.
Pre-Market Update: Apple (AAPL, $97.99, down $0.37) launched its first new product category in four years yesterday and, by the looks of things, the Apple Watch is going to be a hit. However, consumers will have to wait until 2015 for the slick new device.
Mid-Market Update: I did a quick sentence on M&A activity in Monday’s Pre-Market Update and reiterated from earlier this summer that it was a theme that could carry the market higher throughout the back half of the year.
Pre-Market Update: The bulls put up a good fight but eventually lost Monday’s battle with the bears. It was the first Monday loss in six weeks for the blue-chips, but support held despite the losses, while tech and the small-caps showed strength on the day.
Mid-Market Update: Futures were slightly lower throughout the night but held steady into this morning’s open. Although the broader market has been weak for much of the first half, Tech and the small-caps have shown some strength.
Trade Alert: Sell to close half of the YHOO October 43 calls.
The bulls looked strong throughout the week but the bears lingered around on the closes as the market faced two huge hurdles last week.
Pre-Market Update: The bulls looked strong throughout the week, but the bears lingered around on the closes as the market faced two huge hurdles last week.
Trade Alert: Buy to Open the QQQ October 102 calls and the IWM October 120 calls.
Mid-Market Update: Futures were slightly weak throughout the night but improved ahead of Wall Street’s open despite a nasty Nonfarm Payroll report.
Trade Alert: Sell to close the KERX September 18 calls and the FLEX October 11 calls.
Trade Alert: Sell to close the SNE September 19 calls and the SNE October 19 calls.
Pre-Market Update: The bulls failed to hold their opening gains on Thursday after the market reached fresh all-time intraday highs. The bears showed up in the final hour of trading to ruin the party, but the pullback into the close was a result of nervousness over this morning’s Nonfarm Payroll numbers.
Mid-Market Update: The ECB (European Central Bank) was under pressure to do “something” with its initiatives to start a quantitative easing (QE) program of its own and they did by lowering the interest rates from 0.15% to 0.05%, or 10 basis points.
Actions: AAPL shares traded to a low of $98.58 on Wednesday and the Stop Limit of $99 triggered during the 4% pullback.
The Stop Limit of $7.90 triggered on the second PZZI position from early July after shares tested a low of $7.85 yesterday. Continue to hold the other 2 PZZI positions.
Pre-Market Update: The market was choppy on Wednesday, as Wall Street seemed nervous regarding what the central banks from around the world may or may not do regarding their interest rates and monetary policies. News that there was a cease fire between Russia and Ukraine gave the bulls an early lift, but when those reports turned out to be bogus, the concern turned back towards the ECB (European Central Bank).
Mid-Market Update: Futures were showing a strong start to today’s session but the market is mixed heading into the second half of trading as the indexes play role reversal.
Pre-Market Update: The bulls had the momentum at the start of Tuesday’s trading, but lost traction midway through the session after another run at all-times highs. The bears didn’t do much damage as the market ended mixed, but volatility was elevated as Wall Street (and Washington) got back to work.
Mid-Market Update: Futures were slightly higher on Sunday night despite the U.S. markets being closed on Monday as trading went on overseas. The global markets were slightly weaker, overall, on Monday as the rest of the world awaited Wall Street’s open this morning and futures again stayed green throughout last night.
The market finished August with stellar gains and at all-time highs on Friday, as the last trading day of the summer came to a close. The summer doldrums were anything but, as Wall Street vacationed and missed an incredible rally like I predicted they would.
Pre-Market Update: The market finished August with stellar gains and at all-time highs on Friday, as the last trading day of the summer came to a close. The summer doldrums were anything but, as Wall Street vacationed and missed an incredible rally like I predicted they would.
Mid-Market Update: The bulls are trying to end a Friday hex as they have been about the only thing that has slowed the market down in August. Despite correctly predicting yesterday’s down day, I mentioned there were still bullish signs worth watching along with today’s close.
Pre-Market Update: Today is the last trading day in August, and I said coming into the week that the bears would need a miracle to win August given the bulls’ substantial lead. Yesterday’s feeble attempt by the bears barely caused a scratch with the little blood they drew, and today’s action should be a good tell of how next week might play out.
Mid-Market Update: The bears appearance was expected today as I gave everyone a heads-up there could be a pullback. Futures were lower throughout the night and got progressively worse ahead of this morning’s open confirming a rocky open.
Trade Alert: I’m still putting the finishing touches on today’s Mid-Market update as there are a few clues I’m watching to see how tomorrow and next week might play out.
Pre-Market Update: Wednesday was a day of rest for both the bulls and the bears, as the market traded in a tight range and finished flat for the most part. Tech traded to a fresh high but went unnoticed. Support held, so overall, it was a bullish session despite the lack of enthusiasm.
Mid-Market Update: Yes, it’s hump day and it’s also another bullish day for the portfolio. However, trading has been a little choppy as the bears are trying to get into the mix but the bulls are trying to hold positive territory into the close.
Pre-Market Update: The bulls continue to drop jaws and defy Wall Street’s gravity. Tuesday’s action produced fresh all-time highs, with the small-caps leading the way higher. Yes, the small-caps.
Close CUBE at current levels as it is time to move on.
Mid-Market Update: Futures were mixed ahead of the overseas markets opening and when I wrapped up my late-night research but improved ahead of this morning’s open. It was a good sign the bulls were going to continue their romp to all-time record highs.
Pre-Market Update: The blue-chips extended their Monday win streak to five straight following an open and close into positive territory to start the week. The other major indexes followed suit, as they also finished in the green and once again left Wall Street feeling jealous.
Trade Alert: I mentioned it would be a busy week and I have a New Trade on an old favorite.
Trade Alert: I have action for you to take on a call option trade that is up 73% in 5 days. While I’m still looking for a triple-digit profit, I want to ensure the trade is profitable first and foremost by closing a quarter of the position.
Mid-Market Update: Futures were showing a strong open throughout the night and held up into this morning’s open. Monday’s have been good to the bulls over the past month and they are looking to extend that streak to 5-straight if current levels hold.
Pre-Market Update: It was a wild week that had bullish tones throughout, as the bulls managed to push fresh all-time and new 52-week highs ahead of Friday’s Fed comments.
The few analysts and talking heads that are left between now and the start of September scrambled for clues on why the market rallied. They had excuses but no answers as the suit-and-ties are not “students” of the market and don’t do homework. If they were, they would have seen the bulls clues dropped all week long by the higher highs bulls higher highs were on deck.
Mid-Market Update: Wall Street rolled out the red carpet for Janet Yellen and she said all the right things to keep Friday’s action tame. While the possibility for volatility is there into the close, the tight action has been bullish although the indexes are currently mixed.
Pre-Market Update: The Dow jumped 60 points, or 0.4%, to end at 17,039. The blue-chips traded to a high of 17,074 and held the 17,000 level into the close. The next level of resistance is at 17,100 and the all-time high of 17,151.
Mid-Market Update: There will be “dovish” and “hawkish” rhetoric from the Fed Heads that Wall Street will be playing close attention to but I will be ignoring the noise as I have said to plan on a rally through month’s end. It doesn’t mean it will happen but new highs continue to be set despite today’s slight choppiness.
Pre-Market Update: The market finished Wednesday’s session mixed following the release of the FOMC minutes. The usual rhetoric was used on when interest rates might rise, but Wall Street is waiting to hear it from the horse’s mouth on Friday before committing new money to the bulls.
Mid-Market Update: I like striking the iron while it’s
hot and why I have added a few more short-term New Trades.
Pre-Market Update: The bulls continued their climb towards both previous and fresh all-time highs, as the four major indexes finished Tuesday in the green for the second straight session, with the Nasdaq powering higher for five straight sessions.
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Mid-Market Updat: My Track Record shows I have been bearish on Kirkland’s in the past and with earnings on Thursday, I am looking at an option trade to play a possible 10% move in the stock.
Pre-Market Update: I have run out of toes and fingers to count on after hearing today’s headline throughout the year by many so-called market experts. Although the possibility of a market top could have been set yesterday, chances are that the bulls aren’t done, as the indexes continues to push my March, July and year-end fluff targets.
Mid-Market Update: The game plan for this week is much the same as last and it was good to see futures higher following my late night research. Even better, Tech is showing continued strength and is at fresh 52-week peeks and the small-caps are outperforming.
Pre-Market Update: The bulls avoided their first three-week losing streak in over a year after the market rallied throughout the week. Friday was a volatile session and that is usually the case with option expiration day, but geopolitical concerns also added to the mayhem.
The bulls avoided their first 3-week losing streak in over a year after the market rallied throughout the week. Friday was a volatile session and is usually the case with option expiration day but geopolitical concerns also added to the mayhem.
Mid-Market Update: I mentioned there were 3 main clues I was watching this week to confirm if last week was a temporary bottom or not. The bulls have cleared 2 of the 3 hurdles with today’s test being the last.
Pre-Market Update: The bulls will be trying to put the finishing touches on a strong week, and August option expiration has been bullish in recent years.
Mid-Market Update: The bulls are pushing the next layers of support after reclaiming the first waves on Wednesday. The bears have been in slight hibernation despite an appearance on Tuesday but seem to be waiting for all hell to break loose before their next visit.
Pre-Market Update: While the Wall Street pros are away, I’ve been putting my money in play, as it has been a busy week. Despite the “worry” over low trading volume, the market has had a bullish tone this week, and I have been trying to take advantage of it.
Mid-Market Update: Although Wall Street is bored, I’ve been grinding it out. The hard work is paying off as I was able to close 2 more triple-digit winners yesterday and have managed to avoid the pitfalls of the summer doldrums.
Orders for El Pollo Loco (LOCO) filled, buy Pizza Inn Holdings (PZZI), and buy Huttig Building Products (HBP).
Pre-Market Update: The market traded in a tight range for much of Tuesday’s action, with both the bulls and bears trying to gain traction inside the current trading range. The bears eventually won the struggle, but the clues remain mixed on how the rest of the week might play out.
Trade Alert: Buy to open the FOSL September 90 puts (FOSL140920P00090000).
Mid-Market Update: Futures were higher throughout the night and ahead of Wall Street’s open which was a bullish sign following my weekend homework. While it is too early to say if the early August weakness has come and gone, the bulls are taking a step in the right direction with today’s follow-through rally.
Pre-Market Update: The bears gave Wall Street a scare last week as more slick-talking pros jumped ship, which culminated with Thursday’s test to the major moving averages (MAs).
The bears gave Wall Street a scare last week as more slick-talking pros jumped ship that cumulated with Thursday’s test to the major moving averages (MAs).
Mid-Market Update: It has been an incredibly busy week with late nights and early morning wake-ups, but the action has been worth it.
Trade Alert: I’m adding a New Trade ahead of the midday Daily update as I am still working on it and watching the market action. However, I do want to get this out as I like the current action in the stock.
Pre-Market Update: The warnings signs that lower lows were in store continued to come on Thursday, and the bears used the final hour of trading to confirm them. The bulls made an opening run at resistance but went into defensive mode an hour later and ran for the hills into the close.
Trade Alert: I have a New Trade I like for a short-term play on possible further market weakness. I’m also ringing the register on the final third position of the World Wrestling Federation (WWE, $13.69, down $0.41) that returned 133%.
Mid-Market Update: Earlier this week, I profiled RealD’s (RLD, $9.10, down $0.15) upcoming earnings release and showed investors and option traders several different ways to play a possible 10% move in the stock and a possible triple-digit profit with the right option. It is part of my goal to teach you how to find profitable stock and option trades by showing you how to do research and chart work to better your odds of success and to give you a feel for how I trade.
Pre-Market Update: The market traded in a tighter range on Wednesday as Wall Street awaited word on what the European Central Bank (ECB) might do today regarding its current monetary policy.
Mid-Market Update: The bulls are trying to keep the see-saw going as they are rebounding from yesterday’s drubbing. They have looked good for the most part following another bear attack at the open but there is still another half of trading to go.
Trade Alert: I have mentioned the Watch List is exploding with New Trade ideas and I am taking action on 2 favorites off my list.
Pre-Market Update: The Debbie Downers were once again running for cover as the bears made another attack at support on Tuesday. They succeeded by pushing lower lows for the week and the prior Friday lows.
Mid-Market Update: RealD (RLD, $10.47, down $0.15) will be reporting their numbers after the close today. The company is expected to earn a profit of $0.11, on average. The chance for an earnings surprise is high, as the 11 analysts that cover the stock have estimates ranging for a profit of $0.05-$0.17 a share.
Pre-Market Update: The bulls needed a big Monday win to slow the bears’ momentum and, after a sluggish start, the indexes made a run at resistance in the second half of yesterday’s trading session. The market held positive territory following the morning pullback and got stronger into the close as the blue-chips ended higher for the third straight Monday.