Well so much for the market closing at all-time highs once again as the market decided to use good housing data as a reason to sell. Folks also used the data to sell off gold. Futures continued to show more red to start the day, but have pared some of the losses as earnings reports this morning continue to beat expectations.

 

Yesterday was one of the best earnings days i have seen in sometime(if you are a bull). VMW broke out in a large way, and after hours we have beats by FB, TRIP, BIDU, and FFIV moving the stocks double digits. Moves that make option trades some tidy profits.

 

Shame on me for not noticing some possible plays off the bigger names like LNKD for FB, SINA/QIHU for BIDU, PCLN/EXPE for TRIP.... and so on. MLNX also reported after hours with some decent earnings, but guidance was weak, and the conference call was embarrassing, Will hope for a squeeze there to save my calls, but that is unlikely.

 

Tons of news/upgrades/downgrades on the streamer today so will post a few of them. Make sure to check out the Upgrade/Downgrade section in the chatroom for more of them, and thanks ProsperousTrades for posting them there!

 

 

CTXS Citrix Systems price target raised to $81 from $72 at Stifel

Stifel increased its price target on Citrix after the company reported stronger than expected Q2 results. The firm finds the stock's valuation attractive and keeps a Buy rating on the shares.

 

FFIV F5 Networks upgraded to Outperform from Market Perform at Northland Securities

Price target is $98

 

SRPT Sarepta investment thesis confidence increased, says RW Baird

Baird's short and long-term investment thesis on Sarepta was increased following its corporate update. The firm cited its decision to announce the NDA filing as an indication the FDA is more positively inclined towards eteplirsen than previously thought and the company's manufacturing scale-up appears to be ahead of projections. Shares are Outperform rated with a $63 price target

 

BIDU Baidu upgraded to Overweight from Equal Weight at Barclays

Price target is $153

 

YUM Yum! Brands China sales improving, says Oppenheimer

After meeting with Yum's management, Oppenheimer believes that the company's China sales are trending in-line with its guidance. The firm raised its 2014 EPS estimate for the company to $4 from $3.81. It keeps an Outperform rating on the shares

 

ANGI Angie's List weakness a buying opportunity, says Needham

Needham recommends using the post-earnings weakness in shares of Angie's List as a buying opportunity and raised its price target for the stock to $30 from $25. The firm says Angie's subscriber and service provider metrics remains solid and it keeps a Buy rating on the stock

 

MLNX Mellanox downgraded to Neutral from Overweight at Piper Jaffray

Piper Jaffray downgraded Mellanox following the company's Q2 results citing a lack of upside potential to forward estimates and the absence of large Web/Cloud deals. Piper lowered its price target for shares to $45 from $65

BIDU Baidu upgraded to Buy from Underperform at CLSA

 

F Ford downgraded to Sector Perform from Outperform at RBC Capital

RBC Capital downgraded Ford citing increased risk to 2014 North American margins due to pricing risk and higher investment costs ahead of the new F-150 launch. Price target raised to $19 from $18

 

FFIV F5 Networks price target raised to $100 from $93 at Deutsche Bank

Deutsche Bank raised its price target for F5 Networks citing the company's solid Q3 results and product cycle reacceleration. The firm keeps a Buy rating on the stock

 

 

If you missed it yesterday, here is what I wrote about BIDU: https://www.optionmillionaires.com/2013/baidu-bidu-next-stage-of-growth/

 

I do have 125 calls for this week and 130s for next week. Figure I will sell some, if not all of the 10 $125s sometime in the morning. I have 10 @ .26 figure they will fetch $8+ this morning so $260 into over $8k plus, why we trade options. I think its possible BIDU tests $140 sometime in the next few days so will hold the 130s for that test, figure at the open those are $6+.

 

Still like NFLX here but hope for $270 maybe fleeting. GOOG may struggle today as you have to figure good earnings for Facebook means not so good things for GOOG search. Will look to play some of the correlation plays in LNKD and SINA for moves after the open.

Here are the strikes I am looking at:

 

 

Stock Ticker	Call/Put	Strike	Expiration	Closing Price	Entry Price
SINA	CALL	$70.00	Weekly	0.06	0.15
LNKD	CALL	$215.00	Weekly	0.07	0.15

 

 

 

Also, seems I missed the Webinar yesterday so will look to have rescheduled for as soon as possible.

Also looking for some guest contributors here: https://www.optionmillionaires.com/2013/wanted-guest-contributor-current-members-only/

 

Lets have another great day!

 

- JB

 

 

After four more up days on the SPY, the market took a breather on Tuesday after nearing the $170 level. Earnings reports continue to steal the headlines with NFLX and AAPL reports out already, as well as BA this morning. Futures were nicely green overnight and have continued that trend, despite another round of weak data out of China.

Looks like new all-time highs are on tap today once again.

 

Here are some of the analyst changes for today:

 

 

 

VMW VMware price target raised to $90 from $85 at Needham

Needham raised its price target for VMware following the company's better than expected results and guidance and maintains a Buy rating on the stock

 

SRPT Sarepta news upside surprise to expectations, says Deutsche Bank

Deutsche Bank said today's news that Sarepta plans on filing for accelerated approval in the first half of 2014 is an upside surprise to investor expectations. However, Deutsche expects some of the cautious comments in the release could limit share upside. The firm notes the press release states that the FDA is requesting more methodology and verification of dystrophin quantification. Deutsche has a Buy rating on the stock

 

EA Electronic Arts outlook conservative, says Brean Capital

Brean Capital noted electronic Arts beat Q1 guidance and believes the quarter showed potential for accelerated earnings growth, margin expansion, and share price appreciation. The firm expects the naming of a new CEO to be a near-term catalyst. Shares remain Buy rated with a $29 price target

 

 

Green Mountain price target raised to $94 from $85 at Longbow

Longbow's recent survey indicates K-Cup demand was "modestly favorable" year-over-year at WalMart vs. its April survey and that K-Cup volumes accelerated due to the successful Snapple iced Tea K-Cup launch. The firm notes Green Mountain's pricing returned back to normal rates for the first time since October 2012. The analyst raised Green Mountain estimates to reflect higher K-Cup and brewer growth forecasts combined with coffee cost benefits. Shares are Buy rated with a new price target of $94, up from $85

 

COH Coach unlikely to beat Q4 and 2014 expectations, says Morgan Stanley

Morgan Stanley expects Coach to report Q4 EPS of 85c vs. consensus of 89c and for 2014 guidance to be slightly below consensus expectations when it reports on Tuesday. The firm said little news has been priced into shares and risk/reward is slightly negative. Shares are Equal Weight rated

 

JCP Coach unlikely to beat Q4 and 2014 expectations, says Morgan Stanley

Morgan Stanley expects Coach to report Q4 EPS of 85c vs. consensus of 89c and for 2014 guidance to be slightly below consensus expectations when it reports on Tuesday. The firm said little news has been priced into shares and risk/reward is slightly negative. Shares are Equal Weight rated

 

 

If you missed the blog post last night, I am looking for a site contributor: https://www.optionmillionaires.com/2013/wanted-guest-contributor-current-members-only/

 

Also, I apologize for our server issue yesterday that had the site down for nearly 3 hours intra-day. We are working on  longer term solution, which means getting rid of our crappy hosting service and moving to another sometime either this weekend or next weekend. Stay tuned for details as it will require some site downtime.

 

Also stay tuned for an update on a Guest Moderator program we will be running starting next week. Details soon!

 

As for trades this week, I added some NFLX 270 C, as well as BIDU 125 weekly and 130s for next week for earnings. Also added some 375 AAPL puts which will be worthless at the open. Earnings season is 95% a crapshoot, so be prepared for max loss on a play like AAPL or BIDU today. You can also expect some nice gains if a stock moves the right way like VMW, which was called nicely by QuamQuat in chat.

 

Will be dabbling in MLNX for earnings after the close as well as trying for a few GOOG calls into the press conference today on a new product(tablet).

 

Here are the strikes:

 

 

Stock Ticker	Call/Put	Strike	Expiration	Closing Price	Entry Price
GOOG	CALL	$930.00	Weekly	0.45	0.35
MLNX	CALL	$60.00	AUG	0.50	0.45
MLNX	CALL	$65.00	AUG	0.20	0.15

 

 

Dont forget LeeMalones Webinar after the close: https://www.optionmillionaires.com/2013/tonights-webinar-with-leemalone/

 

Lets have a great day!!

 

- JB

I have been talking about this for sometime in the chatroom, but we are always looking for some new contributors to the blog. Not looking to be a 'seeking alpha', but would love to see more diverse content on the site with varying opinions.

With that being said, folks interested just need to email jimmybob@optionmillionaires.com .

How will this work?

1. Will have a trial for those interested to submit 2 original articles on any financial topic related to sectors and/or specific stocks. Individual stock articles are preferred. Anything around fundamentals ant technicals on a particular stock is preferred as well.

2. We will run this for 3 weeks. At the end of the three weeks , a winning contributor will be selected. The winning Contributor will receive a free Diamond membership to the site as long as they continue to submit 2 articles per month. There is also a possibility  of being compensated for posts above and beyond the 2 per month.

Anyone interested please submit your request and/or questions to jimmybob@optionmillionaires.com by July 27th .

Looking forward to seeing some responses!

- JB

 

Another great day, with the markets ramping above all-time highs and everyone is drinking the Kool-aid. Some nice moves and profits on LNKD and SINA calls, and hopefully that continues. On the other hand, earnings reports from GOOG and ISRG have the stocks down here pre-market. TZOO had a decent earnings report, and was up nicely at the open, only to fade the rest of the day. I did lock some of the 35 calls in on Wednesday and will hold the rest of another ramp in the coming weeks.

 

Last night Detroit filed for bankruptcy, the largest municipality in history to do so: http://www.marketwatch.com/story/detroit-files-for-bankruptcy-protection-2013-07-18?dist=beforebell

 

Meredith Whitney, who called the financial crisis, has been saying this was going to be the next catalyst for a collapse. She has been saying it for a while but something to watch in the coming months. http://www.forbes.com/sites/steveforbes/2013/06/04/meredith-whitney-on-the-future-of-muni-bonds/

 

There are quite a few analyst changes this morning, with all the earnings reports. Here are the ones that stand out to me:

 

 

 

 

DECK Deckers Outdoor Q2 likely to beat expectations, says Jefferies

Jefferies believes Deckers Outdoor will report better than expected Q2 results on July 25 and reiterates a Buy rating on the stock with a $100 price target. The firm says the stock remains its top pick

 

PCLN priceline.com price target raised to $1000 from $915 at Macquarie

Macquarie said priceline.com remains a top pick in the group given industry leading execution and scale in International hotels, strong tailwinds in e-travel, and valuation. Shares are Outperform rated with a new $1000 price target up from $915

 

ISRG Intuitive Surgical price target lowered to $530 from $625 at JPMorgan

JPMorgan expects shares of Intuitive Surgical to be in the "penalty box" for a quarter or two after it cuts its outlook, said additional Japan reimbursement is unlikely in 2014, and announced an FDA warning letter. However, the firm believes catalysts are in place to drive future growth and keeps an Overweight rating on Intuitive Surgical, despite lowering its price target for shares to $530 from $625

 

GOOG Google weakness a buying opportunity, says JPMorgan

JPMorgan said it remains positive on shares of Google following the company's Q2 results and recommends buying the stock on the sell-off. The firm attributes the weaker than expected revenue to "self-inflicted policy changes" impacting the Google Network and reiterates an Overweight rating on the stock. The firm did, however, lower its price target for shares to $1,015 from $1,025

 

CMG Chipotle price target raised to $465 from $397 at Citigroup

Citigroup raised its estimates and price target for Chipotle citing the company's solid Q2 results and strong same-store-sales trends. The firm keeps a Buy rating on the stock

 

NFLX Netflix upgraded to Market Perform from Underperform at Northland Securities

Northland upgraded Netflix due to valuation

 

WDC Western Digital upgraded to Neutral from Sell at Citigroup

Citigroup upgraded both Seagate (STX) and Western Digital (WDC) to Neutral citing better than expected structural improvement in industry profitability. Citi raised its price target for Western Digital shares to $77 from $37

 

 

A couple notes for the weekend as I will not be back in full-force until Tuesday, as I am away. There will be no Weed Ahead Webinar on Sunday. I will do a earnings/chart Webinar on Tuesday afternoon. Will post the link later today. Sorry for any troubles, I know we have Netflix earnings next week and I will be sure to have some type of input on it when i get a chance.

 

I will also be in and out of chat today. Sorry for any troubles...

 

Looking for a few lottos today, as I will be betting that GOOG can bounce like it did last earnings, and that CMG may break over $400:

 

 

Stock Ticker	Call/Put	Strike	Expiration	Closing Price	Entry Price
GOOG	CALL	$905.00	Weekly	22.70	0.40
CMG	CALL	$405.00	Weekly	0.45	0.35

 

 

Lets have a great day!!

 

- JB