Mid-Market Update: The bears are trying to end the month on a high note, but that is a serious understatement given the market’s performance for February. The selling pressure coming into the month was extreme, and Wall Street was bracing for lower lows.
Pre-Market Update: The bears slept all through the month and will be glad when February is over. Thursday’s action was mixed once again, although Tech and the small-caps continued their climb to fresh record highs.
Buy to open the YHOO April 47 calls (YHOO150417C00047000, $0.80, up $0.05) at current levels.
Mid-Market Update: The market action today has played out much the same way that it has all week. Trading has been choppy as we wind down the last week of February.
Take profits and sell to close the AXP March 84 calls at current levels.
$0.55 Stop Limit triggered on the CHRW March 75 calls.
Pre-Market Update: Wednesday was another choppy day for the indexes, as the bulls and bears each got a piece of the market pie. The mixed close was slightly bullish despite the continued bearish sentiment on Wall Street.
Buy to open the WU April 20 calls (WU150417C00020000, $0.36, up $0.10) at current levels.
Buy to open the AXP March 84 calls (AXP150320C00084000, $0.75, up $0.19) at current levels.
Buy to open the AXP April 87.50 calls (AXP150417C00087500, $0.56, up $0.19) at current levels.
Mid-Market Update: Futures have shown lower starts each day this week, with the indexes testing support on the open before pushing new highs. This is usually a bullish signal, and today’s session is following suit.
Take profits and sell to close half of the GOGO March 18 calls at current levels.
Pre-Market Update: Fed Chair Janet Yellen gave all of the right comments on Tuesday to keep the bullish momentum going, with round two coming today. My “fluff” targets for February continue to come into play as the indexes blaze their way towards further record highs.
Buy to open the FLEX April 12 calls (FLEX150417C00012000, $0.67, up $0.12) at current levels.
Mid-Market Update: Wall Street has not been as “patient” as the Fed would like as the debate over interest rates continues. Janet Yellen is speaking today and told the zombies that when the Fed removes the word “patient” from its meeting minutes, that it would not automatically signal a rate hike.
The Stop Limit of $1.30 has triggered on the second half of the BSX March 15 calls.
Pre-Market Update: The blue-chips fell for the second Monday in a row, but there were pockets of strength that held together in what the experts are now calling a fragile market. I mentioned that the bearish talk would heat up this week, but the bulls are looking large and are still in charge.
Buy to open the CHRW March 75 calls (CHRW150320C00075000, $0.50, up $0.05) at current levels.
Mid-Market Update: I mentioned this morning that fourth-quarter earnings were entering their final stretch as we wind down the season. However, there are still plenty of names to watch this week and into March as companies with different fiscal years report their numbers. April marks the start of first-quarter earnings season, so the cycle will repeat itself into May and June.
Pre-Market Update: The bulls continued to push fresh all-time highs last week as geopolitical concerns and Greece’s debt struggles eased.
Buy to open GOGO March 18 calls (GOGO150320C00018000, $0.45, up $0.05) at current levels.
Buy to open GRUB March 45 calls (GRUB150320C00045000, $0.55, up $0.21) at current levels.
Mid-Market Update: Although the bulls have been looking good, I was expecting a slight pullback today, and possibly into next week, as February expiration day has been extremely bearish in recent years.
The Stop Limit of 60 cents has triggered on the second half of the SNE March 28 calls.
Pre-Market Update: The bulls had another successful session on Thursday despite the mixed action as the bulls continue to push fresh highs. Today is February option expiration, so the action could increase as traders square up positions.
Mid-Market Update: We have a couple of trades that will be in play after today’s close and on Friday with earnings. Given the risk/reward with these trades, I have decided to take half profits in a few other trades to reduce some of our exposure.
Pre-Market Update: The Fed minutes provided a little relief from Wednesday’s selling pressure, although the bears still got the victory.
Buy to open the MRVL May 18 calls (MRVL150515C00018000, $0.50, flat) at current levels.
Mid-Market Update: Shares of Fossil Group (FOSL, $80.89, down $18.43) are tanking by 18% after the company missed Wall Street’s earnings estimates and offered a lowered outlook.
$1.25 Limit Order triggered on the first half of the BSX March 15 calls.
$0.85 Stop Limit triggered on the second half of the HLT April 29 calls.
Pre-Market Update: The bulls bucked the odds of a lower session following President’s Day and scored a rare win start the week. Of course, last week’s momentum has given Wall Street new life, as traders were eager to get back to work. With many of them already behind the eight-ball, the pressure is on to perform.
Mid-Market Update: Although the bulk of fourth-quarter earnings season has passed, there are a number of notable companies reporting earnings this week. Inside is a look at some of the names, and possible trades, I’m looking at this week.
Pre-Market Update: Geopolitical concerns overshadowed earnings and economic news last week as the bulls and bears battled over near-term support and resistance levels.
Buy to open the WU March 19 calls (WU150320C00019000, $0.40, up $0.15) at current levels.
Mid-Market Update: I will be watching the action into the close and I have a New Trade ahead of the long three-day weekend on a stock that’s showing strength.
Pre-Market Update: You could almost feel the bulls’ energy going into Wednesday’s close and the enthusiasm carried over into Thursday. The indexes pushed, and cleared, the top of the multi-month trading ranges and look poised for a continued breakout.
Mid-Market Update: I have shares of HealthCare REIT (HCN, $77.55, up $0.31) on my watchlist, as crucial levels of support and resistance have come into play.
Pre-Market Update: Wall Street was expecting some good news concerning Greece on Wednesday, but the country’s debt shenanigans will likely last into next week before another “real” game plan is established. There was some good news after the close as negotiations continued, and a relief rally could follow if Greece’s debt is reshuffled once again.
Mid-Market Update: Shares of Hilton Worldwide Holdings (HLT) have tripped all-time highs this morning following a breakout on a bevy of good news.
Take profits and sell to close half of the HLT April 29 calls (HLT150417C00029000, $0.80, up $0.20) at current levels.
Pre-Market Update: The bulls rebounded on Tuesday and are back on track to test all-time highs, as concerns over Greece’s debt were eased. Wall Street was encouraged by the possibility of positive talks between Europe’s top brass regarding the country’s debt crisis, but nothing has been resolved.
Buy to open the BSX March 15 calls (BSX150320C00015000, $0.45, up $0.08) at current levels.
Mid-Market Update: Cyber security is an issue that is here to stay, and there are a number of ways to play the industry. Stocks like Symantec (SYMC), FireEye (FEYE) and Fortinet (FTNT) can be used to play the dangerous hacking and phishing game, and they are good names that I have traded previously.
Pre-Market Update: The bears won another Monday session following another backtest to support and the 50-day moving averages. The bulls made some noise mid-day as they tried to regain their momentum from last week, but the slight rally failed at clearing resistance.
Mid-Market Update: Futures were lower throughout the night and into this morning’s open, suggesting a rough session for the bulls. Although the action has favored the bears so far, I’m hopeful that there will be a rebound into the close today, as the lows of the major indices have held.
Pre-Market Update: The bears made another attempt at cracking prior support levels as well as the 10-year uptrend lines at last Monday’s open and had January’s momentum going into February. However, the action turned on a dime following a test to the 200-day moving averages, as the major indexes held support and the bottom of their trading ranges while the bulls got a rare Monday win.
Buy to open the T March 36 calls (T150320C00036000, $0.26, up $0.10) at current levels.
Mid-Market Update: I stayed up late last night to watch the futures market and to get a head start on this weekend’s homework. The action was mixed at midnight but improved ahead of the opening of overseas markets. This gave me a good feeling that higher highs were in store.
Pre-Market Update: The market rallied on Thursday ahead of this morning’s Nonfarm Payrolls report. The bulls are pushing the tops of the three-month trading ranges and are looking for a breakout. The bears are hoping for some discouraging news concerning jobs this morning to slow the momentum.
Take profits and sell to close half of the CBOE March 67.50 calls at current levels.
Mid-Market Update: The bulls are rebounding from yesterday’s late-day ambush and are pushing the final layers of resistance before new highs possibly come into play. The turnaround from Monday’s lows has been even more impressive, but that will mean nothing if resistance holds.
Pre-Market Update: The bulls were rallying into Wednesday’s close before a last minute curveball from the European Central Bank (ECB) concerning Greece’s debt derailed their momentum. Although the market has seen and heard this song and bailout dance before, Wall Street quickly sold the news and headed for the sidelines.
Buy to open the CBOE March 67.50 calls (CBOE150320C00067500, $0.80, up $0.18) at current levels.
Mid-Market Update: Shares of Walt Disney (DIS, $101.69, up $7.59) are giving the Dow a lift after the company beat Wall Street’s earnings expectations.
Take profits and sell to close half of the BSX March 15 calls at current levels.
Pre-Market Update: The bulls rallied for the second-straight session to clear resistance and prior support. The bears are still lurking, as they made an appearance on Tuesday, but the momentum off of Monday’s lows has been strong.
Buy to open the MRVL March 17 calls (MRVL150320C00017000, $0.50, up $0.06) at current levels.
Mid-Market Update: Shares of iRobot (IRBT, $32.02, down $0.12) are on the verge of a major move ahead of the company’s earnings release on Wednesday.
$1.25 Stop Limit triggered on the second half of the OPK March 11 calls (OPK150320C00011000, $1.10, down $0.60).
Pre-Market Update: The bulls escaped Monday with a win despite an opening attack by the bears in an otherwise choppy session. The action was frustrating for Wall Street, but it was also a good clue that a bottom could be forming, as the trading ranges stayed intact.
Mid-Market Update: The bulls are trying to recover from an opening morning dip that pushed the Dow to a fresh two-month low. The bears have since lost their grip as the major indexes have rebounded, but they still have the momentum and the second half of trading to go.
Pre-Market Update: The bears pushed the bottom of the trading ranges and won the month of January following last week’s pullback. The bulls rebounded late in the week, but Friday’s session ended on a low note. The January and December lows are once again in play following the late-day drubbing.
Mid-Market Update: The bulls showed some fight on Thursday and are trying to pull a Tom Brady comeback out of the hat ahead of the weekend. Barring a miracle, the bears are on track to log a January win, as the major indexes will likely remain below their 2015 starting points at the end of today’s session.
Pre-Market Update: The bulls recovered the losses from the previous session during Thursday’s surge past resistance and prior support. The bears will likely win the month of January, but the bulls will be looking to keep their momentum heading into February.
Mid-Market Update: Alibaba (BABA, $89.09, down $9.36) and Qualcomm (QCOM, $63.06, down $7.93) are the latest victims to see their share prices fall after announcing earnings.
Pre-Market Update: The Fed ruined the bullish rebound on Wednesday, as the market pulled back following the release of its meeting minutes.
Mid-Market Update: Shares of Apple (AAPL, $117.46, up $8.32) are soaring roughly 8% today after the company announced an absolute blowout quarter following Tuesday’s close. The bulls needed it after yesterday’s selloff, as they are looking to reclaim resistance on the news.
Pre-Market Update: The bears made some noise on Tuesday and pushed prior support after taking a week off. The bulls made a slight rebound off of the lows, but the trading ranges continue, with volatility once again in focus.
Mid-Market Update: Shares of Caterpillar (CAT, $79.36, down $6.67) and Microsoft (MSFT, $42.87, down $4.14) are down 8% and 9%, respectively, after announcing earnings.
Pre-Market Update: The market traded with less volatility on Monday despite some choppiness, as the Dow stayed within a 200-point range for the second-straight session.
Mid-Market Update: Futures were showing a significantly lower start after midnight following the Greece elections, but they improved dramatically ahead of this morning’s open on Wall Street. While there has been some weakness, the indexes are pushing positive territory as traders get a feel for the possible trend this week.
Buy to open the OPK March 11 calls (OPK150320C00011000, $0.65, up $0.10) at current levels.
Pre-Market Update: Wall Street was on standby throughout last week and ahead of the European Central Bank’s (ECB) major stimulus policy announcement. The bulls showed strength into last Thursday’s news, and much of the herd was betting on a pullback.
Mid-Market Update: Shares of Starbucks (SBUX, $88.27, up $5.53) are in blue-sky territory following Thursday’s earnings update after the close. The surface numbers weren’t impressive, but Wall Street is excited and energized on the run to fresh all-time highs.
Limit Order triggered on the first half of the SBUX February 85 calls (SBUX150220C00085000, $3.75, up $2.60).
Pre-Market Update: For the suit-and-ties that jumped off of the bull bandwagon, welcome back. John Sebastian missed you, and I couldn’t resist playing this morning’s theme song to start my trading day.
Mid-Market Update: Although Christmas was nearly a month ago, it certainly felt like Christmas Eve last night as I stayed up way past midnight to see how the futures market was trading. These are the last numbers I usually review before I hit the rack and the first I look at when I wake up. They are not a given on how the markets will trade for the day, but futures can give you a pulse on the action.
Pre-Market Update: The bulls extended their win streak to three-straight for the first time in 2015 despite another choppy session. The small-caps failed to participate in the upswing, but the other major indexes came within a stone’s throw of clearing resistance.
Mid-Market Update: The bears made an opening push to support on this morning’s open, but the bulls quickly recovered and are trying to maintain a two-session win streak.
Pre-Market Update: The bulls started the week off on a good note after battling back on Tuesday and maintaining their momentum from Friday. The small-caps lacked as the Russell pulled back, but volatility fell a notch, and the VIX closed below 20.
Buy to open the SBUX February 85 calls (SBUX150220C00085000, $0.75, up $0.05) at current levels.
Mid-Market Update: Futures were showing a nice start to today’s session, as the bulls were looking to keep their momentum from Friday. Following an opening test to resistance, the bears held and are returning the favor.
Pre-Market Update: The bears held momentum throughout the week, but the bulls snapped a five-session slide on Friday. The action into the close was bullish, as the indexes reclaimed resistance, but volatility is still elevated.
Mid-Market Update: The bears made another run at the January lows this morning and were on the verge of pushing the December lows an hour into trading. Down, but not out, the bulls are now showing why it has been hard to bet against them, as they have rebounded off of the lows once again.
Pre-Market Update: The bears won their fifth-straight session on Thursday as they continued to push the bottoms of the trading ranges. The January lows held for a second-straight session, and today’s action will likely determine next week’s trend.
Mid-Market Update: The financial sector sends its biggest hitter to the plate on Friday morning, with Goldman Sachs Group (GS) stepping into the batter’s box. Given the current market environment, “Golden Slacks” will likely hit it out of the park on earnings or strike out looking.
Pre-Market Update: The bears pushed fresh lows for the year on Wednesday and are now eyeing the December bottom. A break below these levels could be dangerous, as it would also get the 10-year uptrend lines in play. The bulls have a little wiggle room and will need to show some strength over the next two sessions to regain momentum.
Mid-Market Update: I mentioned that this week would be all about the financial stocks, as a number of marquee players would be announcing earnings. JPMorgan Chase (JPM, $55.82, down $3.03) and Wells Fargo (WFC, $50.75, down $1.10) were the first two companies from the sector to confess their numbers to Wall Street.
Pre-Market Update: Turnaround Tuesday turned treacherous following Wall Street’s lunch break, as the market took a nosedive off of its highs. The bears pushed support, but the bulls’ test to resistance and the rebound off of the lows remain encouraging.
$1.25 Stop Limit triggered on the second half of the MRVL February 15 calls (MRVL150220C00015000, $1.20, down $0.25).
Mid-Market Update: The bulls and bears have been exchanging two-day blows over the past week, which have produced a volatile trading range. It appears as though that trend is continuing, as the bulls are bouncing back and pushing resistance. It remains to be seen if today’s gains will hold into the close and whether tomorrow will show some follow-through, but, for now, the action is bullish.
Pre-Market Update: The triple-digit price swings continued to start the week, as the market pulled back ahead of the start of fourth-quarter earnings season.
$0.40 Stop Limit triggered on the FLEX February 11 calls.
Sell to close the FLEX April 11 calls at current levels.
Mid-Market Update: Alcoa (AA, $16.14, up $0.03), the forgotten Dow blue-chip, has doubled since getting booted from the index for its low share price and other concerns. I have tracked the company’s earnings for years, as they represent the “official” start of each earnings season.
Pre-Market Update: The bears got off to a good start for 2015 as the market continued its pullback to begin the week. Oil dropped below $50 and the trickle-down effect remained a concern for Wall Street, despite lower gas prices for the foreseeable future.
Mid-Market Update: The bulls and bears have a few hours of trading to go as they battle for the weekly win into the close. With two decisive victories this week by both sides, it was nearly a given that market uncertainty would last into the weekend. However, next week will be a new fight, and the action is setting somebody up for a knockout.
Pre-Market Update: The talking heads and slick-talking pros appear to be shocked at the current V-shaped recovery, and the problem is that they haven’t done the chart work. Most of them “report” the news and follow the crowd, so they are not in the trenches on a daily basis like you and I. If so, they would have seen that the charts (and the VIX) were showing a powerful rebound if support held.
Buy to open the JDSU March 14 calls (JDSU150320C00014000, $0.78, up $0.09) at current levels.
Buy to open the HLT April 29 calls (HLT150417C00029000, $0.40, up $0.10) at current levels.
Buy to open the VEEV February 31 calls (VEEV150220C00031000, $0.75, up $0.42) at current levels.
Mid-Market Update: I mentioned that a rapid rebound could come following the pullback at the start of the year as Wall Street stayed on the sidelines. The bulls have recovered much of 2015’s early losses and are now challenging the next waves of resistance.
The limit order to sell half of the MRVL February 15 calls at $1.35 has triggered.
Pre-Market Update: The bulls were holding impressive gains heading into the second half of trading and the release of the Fed minutes. I mentioned that Wednesday’s close would be important, and the Fed’s statements didn’t rock the bullish boat. The market pushed resistance, but the bears still deserve respect. The bulls will need to follow through in today’s session to keep their momentum.
Mid-Market Update: I mentioned that Tuesday’s action felt like a capitulation moment, and today’s rebound has soothed some of Wall Street’s worries for the time being.
