Mid-Market Update: Although I rely more on technical analysis than news when it comes to trading, the talking heads often like to attribute a rally or fall in the market to a particular headline.
Pre-Market Update: The bears got their second-straight Monday win following another backtest to support. I expected this week to be more volatile, and yesterday’s action lived up to the billing. Trading should be tricky through Wednesday, but hopefully a clear trend emerges once the Fed makes its announcement regarding interest rates.
Mid-Market Update: Talks between Greece and its European creditors broke down again late Sunday night. The discussions between the two sides lasted anywhere between 30 minutes to an hour, depending on what news feed you read, but the chit-chat failed to accomplish anything.
$0.57 Stop Limit triggered on the HILL September 7.50 calls.
$0.85 Stop Limit triggered on the HILL December 7.50 calls.
Pre-Market Update: The market ended mixed last week, but the small-caps were able to gain some ground, while tech pulled back and held near-term support. The move back to resistance mid-week and to the top of the trading ranges had Wall Street in a fit, as many of the suits-and-ties have been, and still are, betting on a pullback. With the Federal Reserve making an announcement this week, the action will continue to stay hot, and it’s possible that the market could get thrown a curveball.
Mid-Market Update: Shares of Yahoo! (YHOO, $40.55, down $0.35) continue to languish and are close to taking out their 2015 and mid-May low of $39.12. The one-year chart shows a break below $39 could lead to a further backtest to $38-$36.
Pre-Market Update: The bulls pushed the next layers of resistance on Thursday’s open, but they had to deal with the intraday drama over Greece, which slowed their momentum. Reports that the International Monetary Fund (IMF) halted bailout talks with the country caused a slight pullback before the market made another push towards all-time highs.
Buy to open the UPS July 105 calls (UPS150717C00105000, $0.53, up $0.06) at current levels.
Buy to open the UPS October 110 calls (UPS151016C00110000, $0.70, up $0.03) at current levels.
Mid-Market Update: Shares of Krispy Kreme Doughnuts (KKD, $19.40, up $2.00) are zooming 11% following the release of a better-than-expected earnings report. The company reported a profit of $0.24 a share on revenue north of $132 million. Wall Street was looking for $0.22 a share on sales of $136 million.
Take profits and sell to close one third of the RAD July 8 calls at current levels.
Take profits and sell to close one third of the RAD October 9 calls at current levels.
Pre-Market Update: The market opened higher and stayed strong throughout Wednesday’s session, as the bulls recovered several layers of resistance that held into the close. The small-caps led the surge higher, but the rally was broad-based and got all-time highs back in play.
Buy to open the RMBS July 16 calls (RMBS150717C00016000, $0.30, up $0.06) at current levels.
Buy to open the RMBS August 16 calls (RMBS150821C00016000, $0.60, up $0.05) at current levels.
Mid-Market Update: It seems that Wall Street is jumping back on the bullish bandwagon, as the market is enjoying its best day of gains since early May.
Pre-Market Update: The market was mixed on Tuesday, with bearish and bullish signs showing up throughout the session. Although Wall Street is saying that a selloff is looming, rational thinking and chart work show that the trading ranges from February are back in play.
Buy to open the RAD July 8 calls (RAD150717C00008000, $0.65, down $0.03) at current levels.
Buy to open the RAD October 9 calls (RAD151016C00009000, $0.55, flat) at current levels.
Mid-Market Update: The transportation stocks continue to weigh on the market, as the sector is pushing fresh 2015 lows.
Pre-Market Update: The bears got aggressive yesterday, and Wall Street is on the verge of calling for another selloff following Monday’s pullback. While it is too early to say this pullback will be the start of something bigger, the technical picture is weakening for the bulls.
Mid-Market Update: I have covered Krispy Kreme Doughnuts’ (KKD, $17.31, up $0.20) story throughout 2015 and, for the past few years, I have been bearish on the stock.
Pre-Market Update: The bears got the weekly win and made Wall Street nervous to start the month of June. However, the damage was limited, as the small-caps and financial stocks offered clues that the bulls aren’t done running.
Buy to open the WFC July 60 calls (WFC150717C00060000, $0.20, up $0.06) at current levels.
Mid-Market Update: With futures weak going into and after this morning’s jobs report, it was a clear sign that backup support would be tested. The bulls responded well, as they have bounced off of the lows, but there is still more action to go.
Pre-Market Update: The recent seesaw battle between the bulls and bears continued on Thursday as both sides tried to make strides to clear support and resistance. Given the economic news, it was no surprise that a backtest to support might come. The bears will be looking for some follow-through, while the bulls will be gunning for a rebound.
Mid-Market Update: Futures were showing a nasty open this morning, as talks regarding Greece’s debt continue to be mired in an impasse. The sticking points between the country and its creditors are still about possible reforms. Here in the United States, economic news has been mixed ahead of tomorrow’s nonfarm payrolls report.
$0.65 Stop Limit triggered on the OPK July 20 calls.
Pre-Market Update: The bulls showed signs of life as they pushed resistance on Wednesday. The financial stocks were strong and held the majority of their gains, while the VIX stayed relaxed. The higher highs and higher lows were promising signs ahead of what could be an explosive end-of-week showdown between the bulls and the bears.
Mid-Market Update: Futures were showing a strong open this morning for the market and, while that was a good sign, I was more interested to see how the financial stocks would hold up.
Pre-Market Update: The bulls battled back on Tuesday to get a piece of the market pie, but the bears were greedy and got the overall win. The action in the small-caps was encouraging, but further gains are needed to clear major resistance across the board.
Mid-Market Update: Futures were volatile ahead of this morning’s open following multiple bomb threats against several airlines. It was reported that five U.S. flights were being targeted, but those threats have turned out to be bogus, as the aircrafts in question have landed.
Pre-Market Update: I mentioned that the first trading day of the month has historically been volatile, but Monday’s action was a bullish sign for June.
Mid-Market Update: The bulls got off to a good start this morning as the major indexes enjoyed a nice opening pop to test resistance. The action turned sluggish heading into the second half of trading, although the market has since rebounded.
Pre-Market Update: May turned out differently than what most of Wall Street had planned for, as the market finished the month higher overall. Despite the recent choppiness, the bulls are holding the top of the four-month trading ranges and are still gunning for historic all-time highs.
Mid-Market Update: The bears are on track for back-to-back wins, and today’s rebalancing of the Russell indexes could help or hinder their efforts.
Pre-Market Update: The market’s see-saw action continued on Thursday, with the bears regaining the upper hand. Despite the win, not much damage was done, as the bulls stayed calm and held near-term support.
Mid-Market Update: Although there is still more action to go, the bulls have failed to keep yesterday’s momentum, as the bears regained control on this morning’s open.
Pre-Market Update: The market posted solid gains on Wednesday, as the bulls bounced back to push resistance. I mentioned that the bulls’ first order of business would be getting the VIX back below 13.50 this week, and that mission has now been accomplished.
Buy to open the RMBS July 15 calls (RMBS150717C00015000, $0.50, up $0.10) at current levels.
Buy to open the RMBS August 16 calls (RMBS150821C00016000, $0.43, up $0.06) at current levels.
Mid-Market Update: The bulls are rebounding from Tuesday’s punishment this afternoon, and today’s gains have made up over half of the losses. Resistance is holding and, while there is still more action to go, the rebound looks bullish.
Pre-Market Update: The bulls were looking for another 1%-2% upside move coming into the week, but they lost a lot of momentum following Tuesday’s pullback. The bears came close to recovering the broader market’s 50-day moving averages, but these levels held into the closing bell. With volatility returning, this week could offer clues on how the next major trend plays out.
Mid-Market Update: The big topic of discussion from last week was that the Dow had its tightest trading range in 100 years. Today’s action has been much different, as those on Wall Street are now getting back from vacation.
Pre-Market Update: The market gave bullish signals last week despite a continuation of the tight trading ranges, and fresh all-time highs were set once again. Volume was anemic last week, and the lightest it has been all year on Friday, as traders left for early vacations.
Mid-Market Update: The tight trading ranges from Thursday have continued into today’s session, with the indexes mixed heading into second half of trading.
Pre-Market Update: The bulls nearly got a clean sweep on Thursday following another day of trading within a tight range for the major indices. Tech led the way higher, but the small-caps slowed the momentum. The good news is that the VIX closed below 12.50.
Buy to open the HILL September 7.50 calls (HILL150918C00007500, $0.55, up $0.15) at current levels.
Buy to open the HILL December 7.50 calls (HILL151218C00007500, $0.80, up $0.05) at current levels.
Mid-Market Update: The weakness in the transports continues to alarm Wall Street following Wednesday’s 2% drop and test to 8,500. While I worried about this as well, I haven’t “flinched,” as I said that the Dow could possibly test 18,350-18,500 over the near term. This week’s highs on the Dow have been 18,351 and 18,350.
Pre-Market Update: The blue-chips were going for their fifth-straight win on Wednesday but failed at accomplishing this feat for the first time in 2015. The Fed minutes released yesterday provided a little afternoon drama, with the tight trading ranges holding and tech and the small-caps showing strength afterwards. The slight pullback in the overall market wasn’t much of a threat, as fresh support continued to hold.
Buy to open the IWM June 128 calls (IWM150619C00128000, $0.70, up $0.10) at current levels.
Mid-Market Update: It has been another choppy session so far today, as both the bulls and bears continue to play tug-of-war over recent support and resistance zones.
Pre-Market Update: The market was sluggish on Tuesday, and the major averages were split at the close of trading. The bulls pushed higher highs, while the bears chiseled on near-term support.
Mid-Market Update: With the month of May winding down, the bulk of first-quarter earnings season has come and gone. Wall Street is already looking ahead to July, however, which is when the market will get second-quarter earnings. Although there will be daily earnings throughout the month of June, companies with different fiscal years usually report their numbers during this time frame.
Buy to open the June 22 calls (JBLU150619C00022000, $0.80, up $0.10) at current levels.
Take profits and sell to close the HILL September 7.50 calls at current levels.
Pre-Market Update: It was a beautiful Monday on Wall Street, as the bulls held court to push higher highs. The small-caps led the charge, but volatility ticked higher despite the positive session.
Buy to open the UPS June 105 calls (UPS150619C00105000, $0.57, down $0.03) at current levels.
Buy to open the UPS July 105 calls (UPS150717C00105000, $1.08, down $0.07) at current levels.
Mid-Market Update: With the month of May winding down, the bulk of first-quarter earnings season has come and gone. Wall Street is already looking ahead to July, however, which is when the market will get second-quarter earnings. Although there will be daily earnings throughout the month of June, companies with different fiscal years usually report their numbers during this time frame.
Pre-Market Update: The market traded sideways throughout last week before making a break toward the top of its trading range. The good news is that most of the major indices have cleared their range ceilings. The bad news is that the small-caps are still struggling.
Mid-Market Update: I have updated our current trades and I will be watching the action into the close like every Friday. There could Trade Alert ahead of the close, but, if you don’t hear from me, have a great weekend. I will be back Monday morning with a complete update.
Pre-Market Update: We have some nice pin action going with our current trades and I have moved up our Stop Limits to protect profit
Mid-Market Update: The bulls are once again pushing the tops of the trading ranges and are looking to hold their gains into the close. The action will likely stay heated into tomorrow’s trading session, which is May options expiration.
Pre-Market Update: The market traded in a tighter-than-normal range on Wednesday, with the bears getting the overall victory. The major averages finished mixed, and the small-caps disappointing once again. The transportation sector was weak, which is a possible bearish development that I’m watching carefully, but, overall, the bulls showed some strength.
Buy to open the RIGL September 5 calls (RIGL150918C00005000, $0.50, up $0.05) at current levels.
Take profits and sell to close the first half of the OPK June 16 calls at current levels.
Mid-Market Update: The market has traded in a tight range today, with the bulls holding a slight lead heading into the second half of trading. Worries over retail sales have caused some concern, as the results came in weaker-than-expected.
Pre-Market Update: The major indices traded in negative territory for much of Tuesday’s session, although the bulls did make a run into greener pastures intraday. The bears made another attempt at cracking support, but it stuck like Chuck as the trading ranges continue.
Buy to open the DMND June 31 calls (DMND150619C00031000, $0.45, up $0.05) at current levels.
Mid-Market Update: The bears came out strong at the open this morning to push the indices’ major support levels, but the bulls have bounced back and are trying to get back to even. With tech stuck in the mud, there is a chance that Cisco Systems (CSCO, $29.27, up $0.06) could provide a catalyst for higher highs on the Nasdaq.
Pre-Market Update: Although there were some pockets of strength, the market looked sluggish on Monday, with the bears getting the overall win. There were signs of weakness as well, as the financial stocks pulled back and the VIX stayed elevated.
Mid-Market Update: Although the market is mixed heading into the second half of trading, the action appears to be favoring the bulls, as tech and the small-caps are showing strength. However, the bears are attacking the broader market and the financial stocks, so neither side has gained a clear advantage.
Pre-Market Update: The bulls continued their May momentum, as they rebounded from a choppy week with a strong Friday to get the weekly win. The bandwagon-jumping could continue despite the indices closing in on the top of their trading ranges, as traders (and the Fed heads) continue to try to call a market top.
Mid-Market Update: The bulls were betting on a “Goldilocks” nonfarm payrolls number, and they got it after the report showed that 223,000 jobs were added in April. The unemployment rate dipped to 5.4% from 5.5%, which is the lowest level since May of 2008.
Pre-Market Update: The bulls held on to Thursday’s gains and recovered resistance, for the most part, but the market is still lower for the week. This morning’s nonfarm payrolls report will have an impact on the open, although today’s close could play a bigger role in deciding next week’s trend.
Mid-Market Update: The bulls are following the same trading script they’ve used for the past three-plus months, as they are now trying to recover from a two-day pullback that pushed support. Today’s gains are helping to push resistance, and the bulls will try to hold those levels into the close.
Pre-Market Update: The bears continue to take advantage of the nervousness on Wall Street and the pending unemployment report to push lower levels of support. This has been the worst two-day stretch since late January, and yesterday’s action may have been fueled by Janet Yellen’s comments about an inflated stock market.
Mid-Market Update: The bulls tried to recover from Tuesday’s losses this morning, as the market traded higher on the open. However, the gains quickly faded, and the bears continue to push lower levels of support. One bit of good news is that the small-caps are showing some relative strength, but they are still struggling with resistance.
Pre-Market Update: The bears snapped a two-session winning streak on Tuesday as they made their first appearance in May. Their return was expected, however, as resistance and the top of the trading ranges continue to hold ahead of Friday’s nonfarm payroll report.
Mid-Market Update: Alibaba is expected to report earnings of $0.43 a share on revenue of $2.78 billion. The company beat expectations by six cents last time out and matched the previous quarter since becoming public in September 2014. Sentiment has been bearish on the stock and the company will need to impressive quarter to change investor’s minds about getting back into the stock.
Pre-Market Update: The market got off to a good start for the week, as the major indices made a run to the top of their trading ranges. Although the bulls failed to hold near-term resistance zones, the action kept the possibility for continued all-time highs into May alive.
Mid-Market Update: Earnings season has been a mixed bag, depending on who you have been listening to, but the market has been holding up well overall despite the hits and misses.
Pre-Market Update: The bears got the last Monday win, as all of the major indices closed lower to start the week. The small-caps led the way and gave the first clue that a rocky week would be forthcoming. The VIX held 13.50 on Monday but bubbled higher on Tuesday despite another blowout quarter by Apple (AAPL). Shares ran to an intraday all-time high of $134.54 but finished the session lower by $2.
Mid-Market Update: This week and the month of April have been busy for the portfolio, but I can’t wait to trade the nuances of May. While the recent pullback knocked us out of some really good bullish trades, making profits in a volatile market is what I thrive on.
Pre-Market Update: The catcalls for a full-blown market correction got louder again on Thursday. The bulls got the April win, but the action in the small-caps was concerning. The broader market and tech enjoyed gains of 1% overall, but the Russell 2000 fell nearly 3% for the month.
Mid-Market Update: Shares of Sony (SNE, $30.25, down $0.45) are down nearly 2% and are testing $30 despite posting better-than-expected earnings. The company had been updating Wall Street that it would beat expectations, but maybe it should have just kept quiet. The company said it will return to profitability for the first time in three years but gave conservative guidance going forward.
Pre-Market Update: The Fed heads failed to inspire a rebound off of the lows on Wednesday, as the market closed at its near-term support levels. The dictionary word of the day is “transitory,” which is a word used by the zombies to describe economic growth. The Federal Open Market Committee (FOMC)’s meeting minutes also revealed that its “calendar-based” guidance was officially retired, as they remain cautious on inflation risks as well.
Buy to open the LLNW September 4 calls (LLNW150918C00004000, $0.35, down $0.05) at current levels.
Mid-Market Update: The latest meeting minutes from the Federal Open Market Committee (FOMC) are due out this afternoon, and another round of debate on interest rates will surely follow afterwards. I would love to see an interest rate hike today just to end the speculation, but bets are being taken on a rate cut in June, September or in 2016.
Pre-Market Update: Geopolitical concerns caused market ripples on Tuesday, as reports surfaced that Iran had seized a U.S. ship. I mentioned in Monday’s Pre-Market Update that the recent saber-rattling around the globe could cause some uneasiness, and the volatility seen yesterday will likely get worse if the world remains on fire.
Mid-Market Update: This will be an incredible week for earnings, as the heart of first-quarter earnings season begins to wind down and the month of April comes to a close.
$0.30 Stop Limit triggered on the second half of the RIGL June 5 calls.
The Limit Order to sell to close the first half of the FCX June 23 calls at $1.10 has triggered.
Pre-Market Update: The bears got a Monday win yesterday, which may have given us our first clue that this week could be a little rocky. The bulls held near-term support, but the action in the small-caps (and biotech) was concerning.
Mid-Market Update: With the Nasdaq coming into the week within spitting distance of its all-time intraday high of 5,132, it’s fitting that Apple (AAPL, $132.85, up $2.57) would be announcing its numbers today, which could help or hinder the bulls’ record run.
Buy to open the OPK June 16 calls (OPK150619C00016000, $0.50, up $0.05) at current levels.
Buy to open the FCX June 23 calls (FCX150619C00023000, $0.55, up $0.10) at current levels.
Pre-Market Update: Last week, I said to watch for four clues that would let us know if the bulls had more gas in their tank or if they were running on empty. The first bullish clue we got was last Monday’s win on the Dow, as the blue-chips recovered the 18,000 level and the 50- and 100-day moving averages.
Mid-Market Update: The market is mixed heading into the second half of trading, but the bulls are looking good for the weekly win. Tech earnings have helped the Nasdaq push new highs today, with Google (GOOG) and Amazon.com (AMZN) leading the way higher. However, the lack of action in the small-caps is a little concerning.
Pre-Market Update: The bulls continued their assault on the tops of the trading ranges and all-time highs during Thursday’s rally. The bears made a little noise at the open, but the higher lows held support and led to higher highs into the close.
Mid-Market Update: Following some early-morning weakness, the market shrugged off the slow start and is pushing fresh 52-week and all-time highs. There are a number of marquee names reporting earnings after the close that will help or hinder Friday’s action, but all signs are pointing towards higher highs.
Pre-Market Update: The bulls regained resistance for the most part on Wednesday, with the VIX continuing its push to fresh 2015 lows. The bears seem to be retreating, but we still need to keep an eye on them, as they can strike at any time.
Buy to open the SPWR June 38 calls (SPWR150619C00038000, $0.95, up $0.05) at current levels.
Mid-Market Update: The back-and-forth action and nearly-three-month-long trading range has been frustrating for Wall Street. The ones that don’t do homework are on pins and needles waiting for next major pullback so they can star nibbling on oversold stocks. They believe stocks are overvalued at current levels and have said that quarterly earnings would be lousy.
Take profits and sell to close one third of the SNE May 32 calls at current levels.
