Pre-Market Update: The talking heads had their pompoms out on Wednesday as the bulls rebounded to clear the first waves of resistance. I mentioned there were a number of suit-and-ties panicking on the 2-day pullback but there were bullish signs the indexes would hold support and resume their push towards all-time highs.
Mid-Market Update: During a recent visit to Arlington, VA, I had the chance to visit The Container Store (TCS, $24.39, down $2.68) and my first impression was the company was paying a lot of rent to sell goods that aren’t too impressive.
Pre-Market Update: The bears made some more noise on Tuesday as the market tumbled for the second-straight session. The talking heads are calling the 2-day pullback a “selloff” but there were bullish signs ahead of the close that suggest the bulls may be taking a breather. However, if they continue to nap and the bears get more aggressive, further support levels could come into play.
Mid-Market Update: I do have two Profit Alerts on options that are up triple-digits so please read the trade instructions carefully.
Pre-Market Update: The bears got their third-straight Monday win as the market tested near-term support. Although the bulls held the losses in check, some of the closes were bearish as Wall Street prepares for the start of 2Q earnings season.
Mid-Market Update: The bears are working on their third-straight Monday win and are making more noise than the prior two. The bulls are holding near-term support but all signs are pointing towards a volatile July.
Pre-Market Update: The bulls had a party but Wall Street failed to show up with many traders bagging work for an early and long July 4th vacation week. The shortened session on Thursday produced fresh all-time highs following a better-than-expected jobs report. The clues were there all week the market momentum from June would continue into July and I mentioned the suit-and-ties could be scrambling to play catch-up once they got back to the office.
Mid-Market Update: The bulls are pushing fresh all-time highs following this morning’s Nonfarm Payrolls report. As usual, Wall Street underestimated the strength of a rebounding economy as 288,000 jobs were added in June.
Pre-Market Update: The market traded sideways on Wednesday following a run at near-term resistance on the open as Wall Street awaited this morning’s Nonfarm Payrolls report. The end result was mixed heading into this morning’s event as the small-caps and Tech took slight hits.
Mid-Market Update: The bulls couldn’t wait on Janet Yellen to speak as they pushed prior highs on the open but have paused to listen as she updates the Fed’s monetary policies.
Pre-Market Update: The bulls came within 2 points of triggering Dow 17,000 but the enthusiasm on Wall Street was a golf clap instead of a pep rally. I mentioned yesterday the suit-and-ties might have to wait for today or tomorrow to clear this hurdle but the other indexes continue to clear my December fluff targets.
Mid-Market Update: I mentioned this morning the first trading day of July is usually bullish and the market is responding by pushing fresh all-time highs. The gains have been the strongest in a month and have held throughout the session with round number resistance within striking distance.
Mid-Market Update: I have 3 New Trades today.
Mid-Day Update: The blue-chips needed to gain 100+ points today to break-even for the week. A good earnings report from Nike (NKE7) after Thursday’s close looked promising but futures were weak throughout the night.
Pre-Market Update: The bulls battled back ahead of Thursday’s close to nearly get the win but more importantly, held support. The bears made another strong attack at the open and triggered lower lows but their efforts were once again wasted.
Mid-Market Update: The bulls were looking to extend their Wednesday gains and make another run at all-time highs today but the bears have been relentless in their pursuit in getting below key support levels.
Pre-Market Update: The bears made an attempt at cracking the second layers of support on Wednesday’s open but ran into a bullish brick wall. The bulls responded quickly and easily defended the weak attack as they regained half of Tuesday’s losses.
Mid-Market Update: While the dust settles, there is another Profit Alert I have for today on a trade that returned 131%.
Pre-Market Update: The bulls rolled over on Tuesday as the bears showed some force and pushed fresh support that served as prior resistance. The VIX also spiked and pushed resistance as the cheerleading talking heads babbled about the “selloff”. It was hardly a selloff but it got Wall Street’s attention.
Mid-Market Update: The market is trading in another tight range today as the bulls and bears fight over fresh support and resistance levels.
Pre-Market Update: Although, I recommended a New Trade yesterday, I still want to be careful before opening the next batch of New Trades. I mentioned a trading range could develop into early July and from there 2Q earnings take center stage.
Mid-Market Update: We got big returns on four positions.
Pre-Market Update: The bears could roll over into 2Q July earnings season as most Wall Street pros start to take early vacations (again) but geopolitical events from around the world are still in play.
Mid-Market Update: The talking heads are doing their best cheerleading Dow 17,000 and with another half of trading to go, they might start doing backflips if reached.
Pre-Market Update: It has been one incredible June for the portfolio and I have once again raised the Stop Limits on a few trades. I mentioned yesterday there were 6 current trades up over 100% and there are a few more that are close to joining the club.
Mid-Market Update: Shares of BlackBerry (BBRY) are surging 12% after posting better-than-expected earnings ahead of the open. The company is still losing money but the CEO said they are close to break-even on hardware.
Pre-Market Update: The market broke out of a week long trading range after the Fed hinted short-term interest rates wouldn’t rise. The Fed heads announced another $10 billion cut to its monthly bond purchases citing an improving labor market and the combination of both pleased Wall Street.
Mid-Market Update: I talked about a trading range developing into today’s Fed announcement and while there is a good chance it stays intact, it will depend on what Fed Head Janet Yellen has to say.
Pre-Market Update: The current trades are performing super well as there are 6 trades up over 100%. I have locked-in half profits on a number of them and I mentioned there were New Trades coming.
Mid-Market Update: I have 2 more Profit Alerts for today so let’s go check the tape.
Pre-Market Update: Monday was the first battle in what will be another war this week and the rest of the month between the bulls and bears. Both sides made strong statements as the bears tried to push the next layers of support with the bulls still gunning for higher highs.
Mid-Market Update: Futures were weak throughout the night and leading up to Wall Street’s open but the bulls got off to a good start after a better-than-expected Empire State number. However, the bears have gotten into the mix after the IMF lowered its growth forecast for the US and urged a hike in the minimum wage.
Pre-Market Update: The market continued its winning ways to start the week as the bulls pushed towards fresh all-time highs. The Dow came within 30 points of triggering 17,000 while the S&P 500 reached an all-time intraday peak of 1,955.55.
Mid-Market Update: Wall Street hates being long over the weekend with the threat of war in the air or possible air strikes but a huge rebound could be in store if the situation in Iraq starts to simmer. Doubtful but let’s hope so.
Pre-Market Update: The bears got their 2-straight win on Thursday following continued geopolitical tensions concerning Iraq and slightly disappointing economic news. The indexes closed below near-term support that served as prior resistance and the bulls will need a good Friday to regain their momentum. Hopefully 13 is their lucky number.
Mid-Market Update: Economic news has been better-than-expected in recent weeks but these reports along with continued geopolitical tensions have traders uneasy. There are pockets of strength in this market despite the 2-day pullback and today’s action appears as though fresh support is trying to hold.
Pre-Market Update: The bears made some noise for the second-straight session on Wednesday but once again, the damage was minimal. The talking heads were blaming the early morning pullback on an upset victory in DC but the smarter traders were watching the geopolitical tensions heighten overseas with Iraq back in the spotlight.
Mid-Market Update: BlackBerry (BBRY) will announce their numbers ahead of Thursday’s open and with anticipation low, the company could surprise to the upside.
Pre-Market Update: The bears made an opening stand on Tuesday’s open and held negative territory throughout the day but the damage was minimal. The bulls easily held fresh support as the market stayed in a tight trading range into the closing bell before a final push got them a split.
Mid-Market Update: The bears haven’t done much of anything in June and even though they are making another Tuesday’s stand, the losses have been kept in check by the bulls.
Pre-Market Update: The blue-chips traded higher for the fourth straight session and 7 of the past 8 while the S&P 500 has moved higher 11-out-of-13. I mentioned the fund-managers would be chasing the gains on a breakout after the Memorial Day holiday. This week could see a continued push higher as round number resistance is tested but too many cheerleaders may ruin a good thing.
Mid-Market Update: The bulls like round numbers and the next target on their list is Dow 17,000. They have come within 30 points of triggering another magical milestone but the bears have defended the fort, for now.
Pre-Market Update: The current trades got some nice pops last week but naturally some of the put trades did not. A rising tide lifts all boats but they can serve as protection in case the waters get choppy later in the month.
Mid-Market Update: This weekend’s homework will be fun as I break down the next batch of trades to play into July and August. I have some last minutes updates for the current trades with some showing some nice pops.
Pre-Market Update: The bulls cleared one major hurdle on Thursday and were facing a huge test ahead of this morning’s open.
Mid-Market Update: Heading into the second half of trading, the Dow is surging 96 points to 16,833 while the S&P 500 is zooming 12 points to 1,940. The Nasdaq is jumping 23 points to 4,295 and the Russell 2000 is rocketing 51 points to 1,151.
Pre-Market Update: The bulls clear another layer of resistance as the market pushed fresh highs with the small-caps and Tech also recovering.
Mid-Market Update: Wall Street is on standby as the world awaits what ECB President Mario Draghi has to say.
Pre-Market Update: Tuesday’s action is suggesting a lower to flat June but things could change depending on what comes out of Europe. Perhaps Wall Street is waiting to see if they “do whatever it takes” to get their economy into second gear.
Mid-Market Update: These were my notes from last night and it is an Apple Option Watch List, or a possible new trade soon or down the road.
Pre-Market Update: The bulls tried the get the entire herd into greener pastures by the close but some of the baby bulls got left behind.
Mid-Market Update: Today is the “record date” to get additional Apple shares for current stockholders. This basically means if you own the stock by today’s close you will get 6 additional shares after Friday’s close, or the split date.
Pre-Market Update: The market was closed last Monday for Memorial Day that left Wall Street facing a Tuesday open and a short-covering rally. The bulls have done well on Terrific Tuesday’s for much of the year and returned to form following a push to all-time highs.
Mid-Market Update: The bulls are trying to put the finishing touches on another successful May but the bears are nibbling.
Pre-Market Update: The S&P 500 Volatility ($VIX, 11.57, down 0.11) was basically flat after trading in a range between 11.82-11.41. The bears are still trying to clear 12.50 while the bulls are eyeing single-digits.
Mid-Market Update: Despite the flurry of M&A news, the market is still struggling with resistance.
Pre-Market Update: The bears got their first victory in 5 after snapping a 4-session losing streak on Wednesday. No damage was done as the bulls easily held support but the suit-and-ties were once again flip-flopping as there was no follow through to higher highs.
Mid-Market Update: Although 1Q earnings season is officially over, there are a number of high-profile companies reporting their numbers that are on a different fiscal year but worth watching over the next few weeks.
Pre-Market Update: The bulls continue to climb the wall of worry with no fear of slipping after pushing all-time highs again on Tuesday. The market clearly has momentum and some of the upside targets I have given since early December and reiterated again in March are starting to trigger.
Mid-Market Update: The action from last week turned decisively bullish midweek and by Friday, the signs were there that today would be a breakout day.
Pre-Market Update: Watching the last hour of Wall Street’s close on a Friday is never any fun, especially ahead of a 3-day weekend, but as a trader and technician it’s part of the job.
Mid-Market Update: This week was fairly volatile considering the tight ranges that have held in May and next week could be more of the same.
Pre-Market Update: Wall Street has been looking a lot of signs in recent weeks as the bullish and bearish camps split further apart with more and more famous names joining the latter.
Mid-Market Update: Futures were showing a strong open after midnight but had weakened dramatically ahead of the opening bell this morning.
Pre-Market Update: As far as the battle between the bulls and bears…what a Wednesday.
Mid-Market Update: Futures were showing a nice pop at the open and a rebound off Tuesday’s lows but the bigger picture is if the bulls can hold their gains.
Pre-Market Update: The bears are starting to get their groove on Tuesday’s after holding resistance and getting a clean sweep on the major indexes. I often say one day doesn’t make a trend but I warned yesterday and today’s action could lead to something.
Mid-Market Update: Tuesday’s have been good to the bulls for much of this year and last but I have talked about watching the Tuesday trend going forward. In recent weeks they have turned mixed to bearish and a continuing trend could signal a market top is in.
Pre-Market Update: Following a dip at the open, the bulls rebounded to claim their fourth-straight win on Monday. The gains were limited but it was enough to keep the upper end of the current trading intact.
Pre-Market Update: Mondays have been bullish of late and last Friday’s action was a good tell Wall Street didn’t want to get caught off-guard again following last Mondays short-covering rally.
Pre-Market Update: The market started the week with a run at fresh all-time highs that helped lift Tech and small-caps off the mat.
Mid-Market Update: May expiration day has been bearish in recent years as the Dow has fallen 65% of the time over the past 25 years. Today’s action has been mixed following Thursday’s drubbing but has been mostly bearish inside of a tight trading range.
Pre-Market Update: Mr. Tepper is the founder of Appaloosa Management and has made some great calls over the past year so people are listening. However, the technical picture started to weaken on Tuesday and I mentioned if there was follow through, prior levels of support would be tested.
Mid-Market Update: The action this week has left some pretty good clues the market may have reached a short-term top following Monday’s short-covering rally. Of course, picking market tops (and bottoms) are never easy and trading ranges make that task much more difficult but all signs appear as though the bulls are taking a breather
Pre-Market Update: The bears made a midweek appearance to push support that served as prior resistance as the bulls backed off their record run. The action has felt bearish since Monday’s short-covering rally although a back test to support is a good thing – as long as it holds
Mid-Market Update: The Tech sector will send one of their heavyweights into the earnings ring today as Cisco Systems (CSCO) reports their numbers after the close.
Pre-Market Update: The bulls powered fresh closing highs on the Dow and S&P 500 but Tech and the small-caps failed to keep their momentum. The action gave the blue-chips their first 5-session win streak for the year but the bears are still lingering.
Mid-Market Update: With 1Q earnings season winding down, earnings trades will be harder to come by until July. This is when 2Q earnings season begins. In the meantime, I will continue to monitor the companies reporting through mid-June while making sure we don’t overpay for a possible option trade.
Pre-Market Update: The bulls made a strong run at the open on Monday to push all-time highs and held a steady pace throughout the session to keep the bears at bay. The action was decisively bullish as there was no fade or pullback into the close and sets up well for today as Tuesday have been mostly bullish for much of the year.
Mid-Market Update: It is too early to tell if the entire market will rally for the rest of the week but things are looking promising as traders are buying the recent pullback.
Pre-Market Update: The bulls came into last week with two days of May under the trading belt but needed another Monday win to get back on track. The bears did their best to crack lower levels of support on the open but the rebound into the close was a good sign a continued trading range would follow.
Mid-Market Update: I believe today’s classic from Jimi best describes how Wall Street traders are feeling as the market winds down the week.
Pre-Market Update: The bulls had a good thing going on Thursday before the bears showed up in the afternoon. The major indexes had cleared resistance but the action into the close left Wall Street once again scratching its head.
Mid-Market Update: With shares at $30, I now find myself wrestling with the decision on if it is time to buy now, or wait for a drop to the mid $20’s. Perhaps the mid-teens?
Pre-Market Update: Wednesday’s action favored the bears for much of the session but the bulls left some clues once again their not ready to give up the push to higher highs. The major indexes were dancing around key support and resistance levels right into the closing bell with the action favoring the bulls once the dust settled.
Mid-Market Update: Whole Foods missed Wall Street’s estimates by 3 cents after reporting a profit of $0.38 a share versus expectations for $0.41 a share. Revenues also came in shy as analysts were expecting $3.34 billion compared to the $3.3 billion reported.
Pre-Market Update: One day doesn’t make a trend but if there is continued weakness today and the rest of the week, May could turn out to be bearish after all.
Pre-Market Update: The bulls nearly made a full recovery following the pullback on Monday’s open but lost the small-caps to the bears by the closing bell. The overall action was slightly bullish but there are bearish signs still developing that need to be watched.
Mid-Market Update:</b. As far as earnings, one trade that caught my attention was Potbelly (PBPB, $17.00, down $0.07) as the company will announce earnings after the close.
Mid-Market Update: The channels are lining up beautifully and you will see everything coming together more clearly. We have given precise downside targets on when we might jump the bullish ship and roll with the bears but we have also defined clear upside targets the bulls are aiming for.
Pre-Market Update: The bulls needed a Monday win to relieve some of the pressure from the prior Friday pullback, and after a volatile session, got a much needed split with the blue-chips and broader market finishing higher.
Mid-Market Update: We don’t want to get overzealous with the bears but we could see weakness into next week if the bulls can’t advance the flag and claim the hill today.
Pre-Market Update: The market traded in a tight range on Thursday, as we expected, with the bears getting the session win by taking 3 of the major 4 indexes. The bulls managed to take Tech higher but the clues we were looking for gave us mixed feelings heading into today’s Nonfarm Payroll report.
Mid-Market Update: Futures were flat throughout the night and ahead of the overseas markets opening and remained that way here at home ahead of Wall Street’s first session for May.
Pre-Market Update: Today marks May’s first session of trading that promises to be interesting along with the entire month as both sides continue to try to break out of the yearlong trading range.
Mid-Market Update: A number of earnings and economic news events have flooded the market for much of the morning that have the bulls and bears jockeying for position ahead of today’s FOMC announcement. Futures suggested a lower open and trading has been sluggish but the bulls are trying to get the train in second gear as April winds down.
Pre-Market Update: The S&P 500 surged 9 points, or 0.8%, to finish at 1,878. The index traded to an intraday high of 1,880 and closed above 1,875 level. The bulls are less than 2% away from clearing 1,900 and 31 points away from our 1,909 target. Support will try to hold at 1,860 followed by 1,850 on any pullback.
