All posts by uranium-pinto-beans

August 23rd Watchlist

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Stocks look to start Friday on a higher note. They have been rallying since the European open. There was positive data overseas last night. Bonds are drifting lower again, this will remain a volatile trade, but the trend is still lower. There will be rips along the way so be wary of that.

I like $PCLN for a bounce today. $PCLN calls and Fridays are two words that have worked in the past. CALLS/PUTS that expire today are VERY RISKY. You could lose 99% of your investment in minutes!! BE CAREFUL.

Yesterdays NASDAQ glitch, wow what an embarrassment. Investors didnt seem to care much as stocks rallied after trading resumed. Mikey great call letting everyone know about it right as it happened. He's the male version of Maria Bart. from CNBC.

Todays morning video --->>> https://www.optionmillionaires.com/2013/om-com-morning-market-video/

Yesterday I copied some of Sunday nights week ahead video to cover my call on $ARO and $ANF --->>>>

https://www.optionmillionaires.com/2013/anf-500-option-trade-idea-presented-in-sunday-nights-live-week-ahead-webinar/

Thanks everyone who attended yesterdays live webinar!

In case your wondering, JB will be back on Wednesday.

Have a great Friday. See you Sunday night for the week ahead!

Analysts:

$ARO Aeropostale price target lowered to $6.50 from $8 at Morgan Stanley
Morgan Stanley sees no clear growth prospects for Aeropostale and reiterates its Underweight rating

$JPM Keefe Bruyette analyzes JPMorgan break-up, but sees as unlikely
Keefe Bruyette believes the likelihood of a JPMorgan break-up is "quite low," but said talk of a potential break-up has led it to evaluate such a scenario. Keefe Bruyette's analysis indicates the sum of JPMorgan's individual business lines is valued at a 30% discount to similar companies, which it views as high, even with the litigation overhang. Further, if the bank were to be broken up, Keefe estimates that it could free up nearly $20B in Basel 3 capital. The firm has an Outperform rating on the stock

$GME GameStop price target raised to $57 from $50 at RW Baird
Baird raised its price target on GameStop following solid Q2 results and raised guidance. The firm cited expectations for a return to positive comp sales, improved visibility for a second half ramp, and continued product momentum. Shares are Outperform rated

$P Pandora remains compelling play on mobile, says JPMorgan
JPMorgan believes Pandora reported solid Q2 results and raised its price target for shares to $25 from $23. The firm says Pandora remains a "highly compelling pure-play on mobile" and keeps an Overweight rating on the stock

$GPS Gap reported strong results, says Stifel
After Gap reported in-line Q2 results but raised its FY13 EPS guidance, Stifel believes that customers are responding favorably to apparel at both Gap and Old Navy. The firm expects the company's earnings to jump 10%-15% annually for the next several years. Stifel keeps a Buy rating on the stock

$P Pandora price target raised to $27 from $24 at Piper Jaffray
Piper Jaffray says Pandora's monetization is improving says the company's Q2 earnings outlook topped its estimate despite falling share of consensus. Piper upped its price target for shares to $27 and keeps an Overweight rating on the stock

$ANF Abercrombie & Fitch downgraded to Neutral from Outperform at RW Baird
Baird downgraded Abercrombie given the week Q2 report and guidance, and the highly promotional teen environment. Price target lowered to $42 from $59

$SPG Simon Property upgraded to Outperform from Market Perform at BMO Capital
BMO Capital upgraded Simon Property based on "compelling" relative valuation. Price target is $175

$ADSK Autodesk upgraded to Buy from Neutral at B. Riley
B. Riley upgraded Autodesk citing the solid Q2 report and business model transition. Price target raised to $42

Trade ideas:

PCLN $965 calls weekly $.50
$HLF sep 6 puts $.75
$TLT $101 sep monthly puts $1.00

$ANF $ARO Back To The Future

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On Sunday night I hosted a live week ahead webinar. We do this every Sunday night at optionmillionaires.com. In that live webinar I covered both $ARO and $ANF. I even went on to post the stocks on the blog. Here are the blog posts and the video excerpt from Sunday night (below). If I had went forward in time, encountered the decline in both stocks before hand, and then warped back to explain it like I did Sunday night.... well I don't think I would have been able to do it as well. There are times, like last week with $CSCO, when I am tuned into the market. But to call $ARO and $ANF like I did Sunday night, its just great to see people making money on this call....

https://www.optionmillionaires.com/2013/anf-500-option-trade-idea-presented-in-sunday-nights-live-week-ahead-webinar/

https://www.optionmillionaires.com/2013/this-stock-is-ready-to-drop-post-earnings/

$ARO and $ANF have both fallen substantially since SUNDAY. The $ANF puts are up over 600% and the $ARO puts soon to follow. Trading out of the money options is never a sure thing, but using charts, experience, and knowledge we make it work here at optionmillionaires.com. Congratulations to those trading for downside, gains again over 300%, not too shabby! I'll try to use the time machine more often, as long as Biff stays out of the way.

The Day The Market Died

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All Nasdaq markets halting trading due to processor issue

Traders waited nervously Thursday for the Nasdaq to begin trading after its largest intra-day shut in recent memory.

"When everyone comes back online at the same time that's when even more dangerous things can happen in the marketplace," said Sal Arnuk, the co-founder of Themis Trading.
The Wall Street Journal pointed to Apple as a good example of the chaos that could ensue. The tech giant's stock plunged shortly before the Nasdaq glitch.

The Nasdaq earlier halted trading in all securities Thursday until further notice due to a problem affecting quote dissemination.
Dozens of publicly traded companies, including high-profile companies such as Apple, Microsoft and Facebook, were showing their shares halted. The Nasdaq status message was time stamped

Dow Jones reported at 1:06 pm ET that trading would resume "shortly," though the exact timing was not clear. An average of 1.6 billion shares have been traded on the Nasdaq every day this August, according to statistics from Sander O'Neil.
Despite the freeze, Nasdaq that it will not cancel orders. "Nasdaq will not be canceling open orders on the book. Customers who wish to cancel their orders may do so and any customer who wishes to not participate in the re-opening should cancel their orders prior to the resumption of trading," said a spokesman.
A spokesman for the SEC said, "We are monitoring the situation and are in close contact with the exchanges."
The Nasdaq options markets also issued a "system update" saying they were recommending firms route all open orders elsewhere.

Play Video
Nasdaq: Halts trading in all tape C securities
CNBC's Bob Pisani and Bertha Coombs report the Nasdaq has halted trading in options market as of 12:20p.
The New York Stock Exchange said it had halted trading in all Nasdaq securities at its request and was cancelling orders. The NYSE otherwise declined comment. The CME said that it was seeing 'no impact' from Nasdaq's trading halt.

"You can't trade if you can't get the quotes out," said Rich Repetto of Sandler O'Neill Partners.

"They want everybody else to shut down Tape C trading so they can restart over at the Nasdaq and until they do they can't restart", said CNBC contributor Pete Najarian. Tape C refers to any securities traded over the Nasdaq.

"If I was back in the days of 10 years ago managing 300 traders I'd put the directive out to every one of them 'we don't put any orders in at the open' ... no one trades for 60 minutes," said Joe Terranova, chief market strategist for Virtus Investment Partners and a CNBC contributor.

Despite the quote problem, stocks overall were up in the early afternoon.

The shutdown of exchanges without an external crisis is rare, but a stray squirrel shut down the Nasdaq in 1987, according to the New York Times

Options/Stocks Are Dead To Us

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A trading halt on the Nasdaq Stock Market neared an hour after an unexplained technical issue, paralyzing the market for thousands of securities and raising new questions about the robustness of U.S. trading systems following a series of high-profile glitches.
The second-largest U.S. stock exchange expected to resume trading shortly, a person familiar with the matter said just after 1 pm ET . The exchange said in a notice to traders that it wouldn't cancel open orders, but that customers could do so. The exchange would resume trading at a time "to be determined," the notice said.