Mid-Market Update: I mentioned in this morning’s Pre-Market Update that the trading session ahead of the Good Friday holiday has been bullish in recent years, with tech closing higher on this day for 15-straight years.
Pre-Market Update: The bears got aggressive into Wednesday’s close, as the major indices tested fresh lows for the week. Near-term support was violated, but backup help is waiting in the wings. The bulls still have a shot at winning the week, however, as the trading day ahead of Good Friday has been extremely bullish in recent years.
Mid-Market Update: The market is once again trading in a tight range, but there is weakness to the downside as we wind down the final few hours of today’s session.
Pre-Market Update: The market showed bullish strength on Tuesday despite the nervousness and ongoing chaos in the geopolitical environment. Politics here in the United States are also in play following another battle over presidential delegates. First-quarter earnings will also add fuel to the fire in a couple of weeks, and major resistance or support levels could come into play.
Mid-Market Update: The market was under pressure this morning following reports of terrorist attacks overseas that claimed the lives of approximately 30 people and injured many more. According to authorities, two bombs were detonated in an airport in Brussels, and another explosion was reported in the city’s subway system.
The Stop Limit at $0.85 has triggered on the SNE April 26 calls.
Pre-Market Update: The blue-chips got their third-straight Monday win yesterday, although the action was far from exciting. In any event, it was another bullish sign, as it shows that money is still moving into the market. Tech cleared a major psychological level as volatility stayed relaxed. And, while the small-caps slacked, they held support in an overall lackluster session.
Mid-Market Update: Shares of Nike (NKE, $63.56, up $0.38) are making some noise this week after the company unveiled plans for a self-lacing sneaker. This new adaptive technology could transcend basketball, running, soccer and a wide variety of other sports. Nike plans to release an array of sneakers over the next few years with this type technology, which could truly be a game-changer.
Buy to open the RMBS May 14 calls (RMBS160520C00014000, $0.47, flat) at current levels.
The Stop Limit at $0.63 was triggered on the AXP April 62.50 calls.
Buy to open the KKD April 16 calls (KKD160415C00016000, $0.60, down $0.17) at current levels.
Pre-Market Update: The bulls continued their run to higher highs as they registered their fifth-straight week of gains. On the other hand, even with the broader market now in positive territory for the year, the talking heads continue to doubt the rally instead of embracing it.
Mid-Market Update: Shares of Nike (NKE, $63.56, up $0.38) are making some noise this week after the company unveiled plans for a self-lacing sneaker. This new adaptive technology could transcend basketball, running, soccer and a wide variety of other sports. Nike plans to release an array of sneakers over the next few years with this type technology, which could truly be a game-changer.
Pre-Market Update: The bulls showed their muscle as Wall Street opened its coffers to buy stocks on St. Patrick’s Day. The Dow’s return to green for 2016 was a bullish sign, although the small-caps and tech slacked. Both indices still closed higher, as did the S&P 500, but they have a little more work to do before they can reclaim positive territory for the year.
Buy to open the NUE April 48 calls (NUE160415C00048000, $0.55, up $0.19) at current levels.
Mid-Market Update: Shares of Energous (WATT, $8.83, up $0.09) and bullish WATT options have a high risk/reward profile, as the company generated no revenue last quarter and is still losing money.
Sell to close the first half of the INTC April 29 puts at current levels.
Buy to open the SNE April 26 calls (SNE160415C00026000, $0.72, up $0.12) at current levels.
Pre-Market Update: The Federal Reserve left interest rates unchanged on Wednesday, and Fed officials made sure they pleased Wall Street with their rhetoric. The news pushed the market to fresh session highs, as the bullish clues that were left ahead of the announcement played out as planned. More importantly, the VIX closed below 15 for the first time this year.
Mid-Market Update: It’s been another busy day ahead of the latest Federal Open Market Committee (FOMC) announcement, which is due to be released shortly. While the broader market is down, there are bullish clues developing that could be subtle hints that a continued rally is in store.
Pre-Market Update: The bears snapped a five session losing streak on Tuesday, but the bulls were able to hold near-term support. Considering the gains over the past three weeks, a pullback was nearly a given, but higher highs could still be in store. One concern, however, is volatility, which is starting to percolate.
Mid-Market Update: Shares of Valeant Pharmaceuticals (VRX, $34.51, down $34.53) have been volatile in recent weeks and months after the company fell under scrutiny with investors.
Buy to open the WATT May 10 calls (WATT160520C00010000, $0.80, flat) at current levels.
Pre-Market Update: The market action on Monday left Wall Street doubting the current rally again, as the major indices finished with mixed results. Meanwhile, the VIX stayed elevated and the bulls held down resistance.
Mid-Market Update: Futures were forecasting a slightly lower open on Wall Street ahead of today’s session, but the major indices have bounced nicely off of today’s lows. This was a good sign, but, more importantly, I want to see a positive close on the Dow today.
Pre-Market Update: The bulls pulled a rabbit out of their hat following Friday’s rally past resistance, as the bears were stifled for the fourth-straight week. The surge off of the mid-February lows continues to play out according to plan, with the run to new highs coming on fresh legs.
Mid-Market Update: I have traded options on Krispy Kreme Doughnuts (KKD, $15.36, up $0.37) over the years, and I have been bearish on the name for the past few. Last year, the portfolio recommended six successful KKD put option trades, with three of them returning gains of 100%, 47% and 42%. The other three trades were winners as well, so you can see why I always look forward to the company’s earnings announcements.
Buy to open the AXP April 62.50 calls (AXP160415C00062500, $0.60, up $0.07) at current levels.
Pre-Market Update: The bulls made an opening run towards resistance on Thursday, but they struggled for the rest of the session to get back their lost gains. Volatility made the bears look good, as the opening rally started to fizzle after the first 30 minutes of trading. Despite the choppy action, the current rebound off of the mid-February lows remains intact, providing support holds today, and a possible close back above key resistance levels would look bullish for next week.
Buy to open the MYL April 45 puts (MYL160415P00045000, $1.10, down $0.38) at current levels.
Mid-Market Update: Futures were positive throughout the morning and improved ahead of the opening bell. However, the hoopla soon wore off, and they weakened before Wall Street started trading. This gave me a good feeling that the action would be choppy, and that’s just how today’s session has played out so far.
The Stop Limit at $0.47 was triggered on the CVS April 105 calls.
Pre-Market Update: The bulls held positive territory into Wednesday’s close, with tech leading the way higher. However, the push towards resistance stalled as Wall Street waited for news on interest rates from overseas.
Mid-Market Update: The market has been trading in a tight range today, but the bulls have controlled the majority of the action. While today’s session is slightly encouraging, the final hour of trading could be crucial in determining how the rest of the week plays out.
Pre-Market Update: The bears snapped a five session losing streak on Tuesday, but the bulls were able to hold near-term support. Considering the gains over the past three weeks, a pullback was nearly a given, but higher highs could still be in store. One concern, however, is volatility, which is starting to percolate.
The Stop Limit at $0.60 was triggered on the HTZ April 11 calls.
Mid-Market Update: Futures were once again showing a weak open this morning, and the action hasn’t improved much as we head into the second half of today’s session. The main clue I will be looking for today is whether or not near-term support will hold. It has, for the most part, but lower lows have come into play as well.
Pre-Market Update: The market was slightly weak at Monday’s open, as futures were showing a pullback throughout the night. The good news was that a rebound ensued, and this type of pattern has played out for a few weeks now. During the market pullback from January to mid-February, futures often pointed towards a higher open before the bulls eventually gave back their gains following the opening hour of trading.
Mid-Market Update: Shares of Shake Shack (SHAK, $41.35, down $0.64) could be volatile in after-hours trading today and on Tuesday morning, as the company is scheduled to announce its latest earnings figures after the close. Wall Street is looking for a profit of $0.07 a share on revenue north of $50 million.
Buy to open the RMBS April 13 calls (RMBS160415C00013000, $0.40, down $0.40) at current levels.
Buy to open the INTC April 29 puts (INTC160415P00029000, $0.38, down $0.06) at current levels.
The Stop Limit at $0.33 was triggered on the BAC April 14 calls.
Pre-Market Update: The bulls wrapped up a solid week on Friday as March got off to a strong start, and the major indices have either cleared or are challenging key psychological levels that could lead to further strength. The major moving averages are also being challenging, and volatility has dropped to its lowest levels of the year. The “V-shaped” rally has also cut 2016’s losses in half, which has Wall Street wondering if the rebound has come too far too fast.
Mid-Market Update: Smith & Wesson Holding (SWHC, $26.99, up $1.59) shares are up 6% after the company announced better-than-expected results following Thursday’s close.
Pre-Market Update:The bulls were on the mat for much of Thursday’s action but were saved by the small-caps and the Financial stocks ahead of the closing bell. The bears are trying to hold a rising tide of support but are facing a possible high tide that could put them away for a few more weeks.
Buy to Open CVS April 105 calls (CVS160415C00105000, $0.45, up $0.10) at current levels.
Mid-Market Update: The market has traded in a tight range today with weakness to the downside as Wall Street prepares for tomorrow’s Nonfarm Payrolls report.
Take profits and sell to close the WFM April 33 calls at current levels.
Buy to Open HTZ April 11 calls (HTZ160415C00011000, $0.50, up $0.10) at current levels.
Mid-Market Update: Smith & Wesson Holding (SWHC, $25.01, down $0.74) will announce their earnings on Thursday, after the market close. With shares challenging crucial resistance levels, a breakout into blue-sky territory and fresh 52-week peaks could be in store on better-than-expected numbers. An earnings miss, or lowered outlook, could send shares tumbling.
Take profits and sell to close the RMBS March 13 calls at current levels.
Pre-Market Update:The bulls came out swinging on Super Tuesday in an effort to clear the 50-day moving averages. The surge to higher highs put the bears to bed, temporarily, as March madness officially begins.
Sell to close the second half of the OPK March 7 puts at market open.
Mid-Market Update: The bulls started the session on a good note and steadily added to their gains heading into the second half of trading. The surge higher has been strong across the board, although upper resistance has been challenged.
Take profits and sell to close the BAC March 13 calls at current levels.
Pre-Market Update: The bulls lost their momentum during the second half of Monday’s session following another run to the market’s upper resistance levels. The bears mounted a brief attack at the open, but they saved their energy to push lower lows into the closing bell. As a result, the market finished the month of February in the red, minus the blue-chips, to set up what could be a maddening March.
Mid-Market Update: Futures were weak throughout the night, but they improved ahead of this morning’s open. This was a positive sign, and the early-morning weakness turned positive as the bulls pushed higher highs. If the gains hold, the bulls will get their second-straight Monday win.
Pre-Market Update: The market finished mixed on Friday, but the bulls got their second-straight weekly win despite the choppy action. The current rally has also helped to erase much of February’s losses, although the bears still have a little piece of the pie, as tech is still in the red.
Buy to open the WFM April 33 calls (WFM160415C00033000, $0.54, up $0.07) at current levels.
Mid-Market Update: Wall Street and the talking heads seem surprised by the continued strength the bulls have shown over the past two weeks, but that’s because they have ignored the signs.
Pre-Market Update: The broader market cleared major resistance on Thursday to set up a Friday showdown and a fight for market direction into next week and March. Tech and the small-caps are also close to clearing their 50-day moving averages, as the current rally is becoming more broad-based. However, fresh support is still shaky and will need to hold on any pullback.
Mid-Market Update: Shares of Salesforce.com (CRM, $67.51, up $4.99) are having a strong session after reporting better-than-expected results following Wednesday’s close. The company matched Wall Street’s earnings expectations, while revenues came in above forecasts.
Pre-Market Update: The bulls showed their resiliency on Wednesday following the opening onslaught by the bears. The late-day recovery was a beautiful sight, but upper resistance remains in the picture. Volatility also cooled into the closing bell, but it is still in the danger zone.
Mid-Market Update: Shares of Green Dot (GDOT, $19.09, down $0.31) have been in a strong uptrend after holding their 200-day moving average earlier this month. The 50-day moving average is also on track to clear the 200-day moving average, which would form a “golden cross” in the $17.50 area on continued strength. The 100-day moving average is also rising. The 52-week high is at $21.62, and near-term support is at $19.
Pre-Market Update: Tuesday’s backtest to fresh support was nearly a given following the broader market’s failed attempt to clear the 50-day moving averages on Monday. How the bulls respond today will be crucial, as the last week of February is usually a bearish period of time.
Mid-Market Update: The retail sector could be volatile this week, as a number of companies in the space will be reporting their numbers to Wall Street.
Pre-Market Update: The bulls continued their rebound rally on Monday as they blasted past more layers of resistance. Volatility settled near its lowest levels of the year, and continued weakness could push the bears further into hibernation.
Mid-Market Update: The bulls rushed Wall Street’s gates at the open this morning, and they have continued to push higher highs as we head into the close. The rally has been broad-based, as the major indices continue their “V-shaped” recovery with today’s surge to resistance.
Sell to close the first half of the OPK March 7 puts at current levels.
Buy to open the ORCL April 40 calls (ORCL160415C00040000, $0.40, up $0.10) at current levels.
Pre-Market Update: The market started the holiday-shortened week on a good note last Tuesday, as the bulls recovered major resistance following the three-day weekend. The Dow Jones Industrial Average and S&P 500 also enjoyed their first three-session win streaks of the year following the rally that continued into Wednesday’s close.
Mid-Market Update: The odds were stacked against the bulls today, and the lackluster action looks bearish at first glance. However, tech and the small-caps are showing some strength, and the VIX is in the 20s.
Take profits and sell to close the second half of the EMR March 49 calls at current levels.
Pre-Market Update: The market traded in a tight range on Thursday, but the bears controlled the majority of the action and snapped the bulls’ three-session win streak. The VIX stayed relaxed on the pullback, but volatility could be in play today, as regular February options are set to expire.
Mid-Market Update: There were a number of positive developments in the market this week that have provided clues that the bulls could continue their rebound. While today’s action has been choppy, a slight pause was due following three-straight days of 1% gains or more.
Pre-Market Update: The bulls made another strong showing on Wednesday as the market chugged higher for the third-straight session. Strength was displayed throughout the session, and the bears stayed in hibernation while volatility continued to relax. The stair-stepping to the upside looks good, but I always warn that the elevator drops are what we really have to watch out for.
Mid-Market Update: Deere & Company (DE, $81.30, up $1.49) will report their quarterly numbers ahead of Friday’s open with shares usually making a large price movement afterward. Wall Street is expecting a profit of $0.70 a share, on average, with revenues coming in at $4.96 billion.
Take profits and sell to close half of the EMR March 49 calls (EMR160318C00049000, $0.90, up $0.30) at current levels.
Take profits and sell to close half of the INTC March 30 calls (INTC160318C00030000, $0.60, up $0.19) at current levels.
Use a limit order to buy to open the MSFT March 52.50 calls (MSFT160318C00052500, $1.07, up $0.16) up to $1.20. If the call options open above $1.20, cancel the trade.
Sell to close the remaining GRMN February 30 puts (GRMN169219P00030000, $0.24, down $0.15) at current levels.
Pre-Market Update: The bulls rebounded in a big way to push upper resistance and major resistance levels. The two-day rally looks strong. The Dow and Nasdaq fell shy of clearing their downtrend lines but came close, while the small-caps led Tuesday’s charge higher.
Buy to open the EMR March 49 calls (EMR160318C00049000, $0.60, up $0.10) at current levels.
Mid-Market Update: Futures were showing a strong start to this morning’s open, and I talked previously about the possibility of a rebound rally coming into play. While it is too early to say that a temporary bottom was set last Thursday, a few more up days would confirm — at least over the short term — that a bottom is in. Today’s session is a good start.
Buy to open the INTC March 30 calls (INTC160318C00030000, $0.40, down $0.04) at current levels.
Pre-Market Update: The bears got their second-straight weekly win last week despite a major rally by the bulls on Friday to regain resistance. However, the break below the January and fresh 52-week lows by tech and the small-caps was something I previously said we should be wary of, as the technical damage continues to worsen.
Mid-Market Update: I’ve always been a big fan of Jamie Dimon, who is the current CEO at JPMorgan Chase (JPM, $57.08, up $4.01). He tells it like it is, and he’s not afraid to put his money where his mouth is. His company’s stock surged as much as 8% today after it was disclosed that he bought 500,000 shares of JPM in the open market yesterday. Dimon’s vote of confidence in JPM stock was worth a year of his salary, and it has been a rising tide for most stocks in the sector today.
Pre-Market Update: The market fell for the fifth-straight session on Thursday, establishing lower highs and lower lows in the process. Although the bulls made a slight recovery off of the lows yesterday, the technical picture remains bearish ahead of the three-day weekend. As a reminder, U.S. markets are closed on Monday, Feb. 15, in observance of Presidents’ Day.
Mid-Market Update: The bears are pushing the market’s lower levels of support this afternoon, with tech and the small-caps setting fresh 52-week lows. The price of oil continues to plunge as well, as WTI crude has traded below $27 a barrel today.
Pre-Market Update: The bulls tried to end their four-session slide and push near-term resistance on Wednesday, but the bears won the second half of the session to keep pressure on the market’s key support levels. Volatility remains elevated, but the VIX closed at a neutral level despite the mixed session.
Mid-Market Update: The Financial Select Sector SPDR ETF (XLF, $20.56, up $0.17) is holding its 200-day moving average following another test to the $20 level this week. While near-term support appears to be holding, there is still risk to $18.50 and the late-August low of $18.52 on a close below this level. Near-term resistance is at $21, followed by $21.50.
Pre-Market Update: The bears got their second-straight win on Tuesday following another volatile trading session. However, the bulls put up a good fight, and they made an appearance in positive territory after holding support on the opening pullback.
Buy to open the BAC March 13 calls (BAC160318C00013000, $0.40, down $0.03) at current levels.
Buy to open the BAC April 14 calls (BAC160415C00014000, $0.30, down $0.03) at current levels.
Mid-Market Update: Shares of Whole Foods Market (WFM, $29.50, up $0.12) traded to a fresh 52-week low of $28.07 on Monday, and the company is scheduled to announce its latest earnings figures following Wednesday’s close. The 52-week high is at $57.57, and shares are down nearly 50% from their peak.
Pre-Market Update: The bears got their second-straight Monday win yesterday, and they have won four of the past five by keeping the pressure on the bulls. There was a slight rebound off of yesterday’s lows, however, and backup support held despite the fresh 52-week lows in tech and the small-caps.
Mid-Market Update: My weekend research showed that a continued pullback was in store for the market this week, and I mentioned in this morning’s Pre-Market Update that the January and August lows could come into play.
Pre-Market Update: The bears snapped a two-week losing streak following Friday’s pullback to the market’s lower levels of support. The bulls’ failure to clear major resistance levels continues to be a problem, with lower highs and lower lows coming into play, and tech and the small-caps are in danger of testing fresh lows for the year if there is no recovery this week.
Mid-Market Update: The broad market is getting clocked following a worse-than-expected jobs report this morning. Nonfarm payrolls came in at 151,000 versus expectations for a reading of 190,000. Meanwhile, the unemployment rate fell to 4.9% — down from 5%. This is misleading to some degree, however, as more people continue to drop out of the workforce and therefore aren’t counted.
Pre-Market Update:The bulls pushed higher highs shortly after the open on Thursday, but they struggled to hold those gains throughout the day. The bears took advantage of the nervousness ahead of this morning’s monthly jobs report, and the market finished mixed for the second-straight session.
Buy to open the BAC March 13 calls (BAC160318C00013000, $0.68, down $0.11) at current levels.
Mid-Market Update: Futures were strong ahead of the opening of overseas markets, but they weakened before Wall Street got to work. This was an indication that another choppy session could be in store, and that is exactly what we have seen so far today.
