Important Multi-Day Level On SPX To Watch
on the S&P 500 futures, 15 minute chart note the key level around 1235 (thats around 1240 on the S&P 500 itself). we are breaking below it as we speak and there may be some support near 1228 on the S&P 500
Visa On Verge Of Possible Breakout
Visa Inc. (NYSE:V) the payment processing platform company has traded well so far in 2011 and continues to act well. I have discussed Visa Inc. (NYSE:V) before and it is now again getting close to setting up for a high probability trade. On the weekly chart note the clear uptrend in place since 2009 […]
Industrial Stocks May Be Ripe For A Bounce
On August 2nd I wrote here (http://www.investorplace.com/53951/trade-of-the-day-industrial-select-sector-spdr-nyse-xli/) that the industrial stocks are setting up for a short-side opportunity as they had broken a major uptrend a couple of days prior. The vehicle discussed was the Sector SPDR Industrial ETF (ARCA:XLI) which has since then fallen roughly 14% and yesterday reached our profit target at […]
Update On Ralph Lauren (RL) Short
After announcing earnings on May 25th, Ralph Lauren dropped 11% due to profit margin squeezes. On May 25th we sold far out of the money calls as implied volatility and hence options premium were juicy, as highlighted HERE. Two days later Citigroup upgraded RL on a valuation call and the stock rallied hard right […]
Was Friday’s Jobs Number Equity Positive Or Negative?
Last Friday's non-farm payroll numbers came in much better than anticipated by the street crowd. +244,000 was the big number, led by private sector hiring. 9% unemployment. So now the question front and center in my cranium is whether this number will be looked at as equity positive or negative. Friday's risk reaction was more […]
Keep In Mind: S&P Futures Gap Below
I haven't heard many people point this out so here it is. Support levels on the S&p 500 indey are $1330, $1320, and $1313. The $1313 level is the bottom of an up open gap from April 20. We are watching this level as potential support. Should it fail, next stop/support area would be […]
INTEL (INTC) Better Entry Level
After the huge move up since its earnigns announcement on April 19th, INTC is now coming into more attractive long-side entry levels as it's pulling back to near the mid $22s. From the weekly chart below you can see the multiyear narrowing trading range (light blue dotted lines), which could serve as an area of […]
If A Medium Term Market Top Is Near – Sell Calls
One of our core strategies for Bucket 3 (the longer-term holding portion of the portfolio) is to sell calls on stocks right after they had a large one day sell-off of at least 10%. The strategy is described in our Trading Plan. Often when the stock market as a whole gets overextended we choose […]
Yahoo (YHOO) On Verge Of Multi-Year Breakout?
There's not much more to say here than: look at this chart! Multi-year resistance in YHOO is at $19 and this time it sure looks like YHOO is serious about breaking above this level. While very near-term this stock could be extended, if looked at with at least a couple months of time-frame I think […]
Trade Idea On Finisar (FNSR) Today
Finisar (FNSR) is indicated to open around 37% lower this morning after missing earnings guidance estimates. In the Chat Room this morning we are discussing ways to take advantage of this and here is a quick summary of what I laid out in this morning's 'Morning Line-Up' newsletter about: Similar to stocks like NVDA or […]