What another great day yesterday with NFLX really making some folks day, month, year and TZOO ramping in the morning. Looking forward to today, but will be a bit more cautious on some of the weeklies expiring today and will play maybe a few.
That conference in Davos is filled with headlines and bullish comments from everyone but my Grandmother, who is on the ski slopes. It almost shakes me from my short term bullishness. If these folks are bullish, they are already in equities or are maybe they are charitable folks who give the retail traders the heads up, lets us get in, then start buying. Most of these funds are in the market, its the retail sheep who have been shaken out of it. And conferences like this, with bullish remarks written all over it, is the way they will get the sheep back in the corral for slaughter. When there is noone left to buy because everyone is in is when this market falls. AAPL is a great example of that. More on this sometime soon!
Draghi issued some more bullish comments on the eurozone mess, and Japan nikkei ripped over 2% higher over night, nearing 11,000. Worst thing you can do is try and time the top and get in the way of these bulls. For now I play the trend. We battled 150 on the SPY yesterday and looks to be a battle area again today.
Not too many analyst changes today, below are the ones i like to include ADSK’s second upgrade in 2 days, with GS putting her on the conviction buy list.
Starbucks global comp sales beat expectations, says Bernstein
Bernstein reports that Starbucks' 7% global comparative sales increase in its Q1 beat expectations for a 5.5% gain. The firm thinks the company's channel development sales will likely re accelerate in coming quarters and it maintains a $65 price target and Outperform rating on the shares
Starbucks PT lifted to $56 share fr. $55: Barclays
Starbucks price target raised to $63 from $53 at RBC Capital
After Starbucks reported in-line Q1 results, RBC Capital believes that the company's sales momentum has continued in Q2. The firm thinks that the company's earnings visibility is high, and that it has several growth drivers. But RBC believes these factors are baked into the stock price and it maintains a Sector Perform rating on the stock
Autodesk upgraded to Conviction Buy from Sell at Goldman
Goldman upgraded Autodesk to Conviction Buy from Sell due to improved execution and an acceleration in non-residential construction end-markets. The firm believes Suite revenue will accelerate due to improved macro trends. Price target raised to $45 from $25
SBUX and VRSN reported good earnings ah’s and both should ramp higher. I love SAM and here is my write up as promised: https://www.optionmillionaires.com/2013/boston-beer-co-inc-sam-crafting-profits-for-shareholders/
I am holding weekly calls on PCLN, GOOG, NFLX, and SINA. The SINA 60s I sold at .7 for a 75% haircut and i have 62.50s expiring worthless. I still love SHLD and will try for some calls sometime today or monday. Here are the few strikes I am looking at today:
|Stock Ticker||Call/Put||Strike||Expiration||Closing Price||Entry Price|
As always we will be holding our week ahead webinar at 10:30pm Sunday, and hope to see you there!
Lets have a great day!