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Monthly Archives: July 2010

July 2010 Monthly Wrap: POT, GS, GOOG, BP, RIMM

It’s been a very choppy month.  Although the market recorded a gain for the month, it went through big swings to get there.  Nevertheless, we came away with some pretty good trades: July 29, 2010 12:54 | HappyTrading GS ($153.00) Sold to Close 08C150 Aug 150 calls, at $5.70 +36% 12:40 | HappyTrading GS ($152.60) [...]

Trading Options on FAZ and FAS

FAZ and FAS are the Direxion Daily Financial 3X Bear and Bull ETF’s. With their enormous leverage, they have become more popular, I think, than anyone would have expected.   On Monday July 26 they traded 49 million and 42 million shares respectively, enough to rank them as 34 and 22 in dollar volume. As [...]

Market Ends Down In Volatile Trading: SPX, Nasdaq, POT, GS, SPY, CLF, GMCR, CME, CTXS, WYNN, FSLR, MET

The market started out in the positive territory as jobless claims fell.  However, as I stated last night, "SPX can easily slide down to test 1100 again."  SPX went up as high as 1115.9 and quickly turned lower.  Around noon, SPX had dropped all the way to 1092.  That’s almost 24 points on the SPX, or [...]

Market Pulls Back On Latest Economic Data: SPX, Nasdaq, GLW, BA, RIMM, V, AKAM, ESRX, GENZ, AZN

The market pulled back today after seeing the reported durable goods numbers were lower than expected.  Investors may also be cautious ahead of the jobless claims report tomorrow and the GDP on Friday.  This morning, GLW reported solid earnings, but, the forward guidance failed to inspire investors.  GLW was down 1.89%.  BA shares also slupmed [...]

Market Stutters As Miners Pull Back: SPX, Nasdaq, X, WLT, CLF, BTU, GLD, GOLD, NEM, ABX, BRCM, BWLD, PNRA

In my Market Forecast this weekend, I said, "If SPX 1100 is cleared, SPX should retest the 1120 level.  Miners went up quite a bit last week and may need to take a quick breather." Yesterday, SPX closed above that 1100 level.  This morning, SPX tested 1120, then, pulled back, as miners saw profit-taking.  X [...]

Weekly Wrap + Market Forecast + Sector Watch: SPX, Nasdaq, XME, XLF, PBW, SOXX, SMH, INTC, QCOM, BRCM, AMGN, CNX, CME, FSLR, MOT, NOV, POT, AKAM, AEM, V, CLF, GLW, WLP, BP, SOHU

Last weekend, in my Market Forecast, I wrote: "For the new week, a whole lot more earnings reports are coming in…  The market is barely being supported by its daily MAs.  A quick dip could send it to test SPX 1040 again.  It’ll be up to the earnings again.  Monday and Tuesday could induce big [...]

Earnings Galore! CAT, UPS, FCX, CLF, WLT, AMZN, SNDK, MSFT, CMG, MOS, AXP, KWK

The market has just been going through big swings this week!  This morning, both CAT and UPS reported strong earnings and buyers rushed back into the market.  CAT finished the day up +1.69% while UPS jumped +5.23%.  FDX outpaced UPS, rising +6.08% (it does look like both FDX and UPS can run much higher from [...]

Market Dips As Bernanke Speaks: SPX, Nasdaq, MS, WFC, FCX, AAPL, EBAY, FFIV, QCOM, BIDU, NFLX, ISRG, SBUX, CMG, NUE

The market started off strongly on strong earnings from MS, WFC, and FCX.  MS ended the day up +6.26% at $26.8; it traded as high as $27.89.  WFC closed only slightly higher, but, did trade up to $27.6.  FCX traded above $68 before closing at $66.06, up +2.71%. However, as Bernanke started to give his [...]

Market Brushes Aside Earnings From IBM And TXN: SPX, Nasdaq, IBM, TXN, AAPL, CRUS, SNDK, BRCM, VMW, CLF, BTU, STLD, WLT, FCX, X, WFC, NFLX, FFIV, QCOM, SBUX

Yesterday, the market eked out a small gain, ahead of IBM and TXN’s earnings.  Then, both IBM and TXN disappointed investors with their quarterly reports.  Today, the market open gapped down, but, started to bounce almost immediately.  Both BTU and STLD delivered solid earnings and commodity sectors soon bounced strongly.  Miners did especially well:  CLF [...]

Lamentations on Google

The market unraveled. There were signs it was going to happen.  Key among them was the behavior of Google before, during, and after its earnings release. I especially like the phrasing of the update in the Financial Post on Friday morning: "Responses to second quarter earnings reports released overnight were disturbing."  GOOG reported second quarter [...]