Stock futures are taking a break after the market has put together two very strong rallies. $DIS beat earnings last night and is sharply higher. $CMG did not impress and is down over 5% pre-market. Bonds continue to sell off, while oil is lower after a tremendous
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Tuesday Recapus Minimus 2-3-15
I'm going to keep it short and sweet tonight. It was another great trading day. That $SSYS bounce was ever so majestic. Don't be surprised if this thing gets over $60 before weeks end.
$DIS is on fire tonight after a big earnings beat. My $DIS calls from yesterday at $.92 look to open at over $6 each, lucky for me I sold them out for a double earlier in the session. PHEW! $TWTR $38.50 calls, well almost any strike, are working well heading into Thursday's earnings report. Will we get a flop, like $TWTR's last report, or a rocket to $50 like its summer earnings report?
The market made some significant progress as far as pushing back short term resistance. From a longer term perspective I think there is still more work to do:
Tuesday Morning Market Video – $DIS $WYNN $TWTR $CAT $USO $GDX $YHOO
Tuesday Morning Reads – 2/3/15
Stock futures overnight took a turn lower down over .5% but have since reversed course and are trading .5% higher. Yesterdays trading session had similar intra-day moves with the market gyrating between triple digit losses on the Dow Jones Industrial average before a late day surge left it higher by triple digits. Earnings tonight after the bell include the likes of Disney. Here is what I am reading this morning:
Monday Recap – 2/2/15
The market looked poised to start the week off on a positive note, but early morning sellers took over after the opening bell. The $SPY briefly dipped under $198 and traded under $200 for most of the session before a late day surge sent the $SPY to $202. I don't think a chart accurately conveys the volatility we saw in the market today, with prices falling dramatically before rallying sharply.
Today's chart of S&P500 Futures