Three days into the trading week and the market is nearly unchanged despite some more volatility. The Fed statement eased concerns a bit on the taper, and the market ramped right near all-time highs, only to fade into the close. China data and comments from the ECB and UK central banks this morning have added to gains in the futures, and the market looks poised to gap above all-time highs with the SPY right near the $170 level.
Earnings continue to steal the show with some more big reports from YELP and SAM boosting shares pre-market. Shutterfly reported as well after hours, with a mixed bag of results so may trade flat today. CTRP reported earnings yesterday that have propelled the stock over 14% pre-market and should help bid up BIDU and SINA.
Still like OPEN here and will try and add to my 75 calls at the open. The stock is getting some attention from the YELP earnings. Will also look to play a flip on LNKD. Already have some AUG 17th 270 calls and may add some more at the open for some premium build.
Here is a great pre-market video from UPB : https://www.optionmillionaires.com/2013/upb-pre-market-video-812013/
Tons of analyst changes out there today, here are a few that caught my eye:
|GPS Gap added to Top Picks List at FBR Capital|
|FBR Capital added Gap to its Top Picks List after initiating coverage of the stock with an Outperform rating. FBR believes Gap is driving margin improvement and has growth opportunities with new U.S. formats and international expansion|
|SODA SodaStream growth unlikely to accelerate significantly in 2H13, says Oppenheimer|
|After SodaStream reported stronger than expected Q2 results and raised its guidance, Oppenheimer doesn't expect the company's sales growth to accelerate significantly in 2H13. The firm notes that the company's growth slowed in Q2 and it keeps a Perform rating on the stock|
|YELP Yelp price target raised to $49 from $30 at Oppenheimer|
|Oppenheimer increased its target on Yelp after the company reported stronger than expected Q2 results and provided stronger than expected full-year guidance. The firm keeps a Perform rating due to valuation|
|TRLA Trulia price target raised to $48 from $40 at Needham|
|Needham raised its price target for Trulia following the company's Q2 results and reiterates a Buy rating on the stock|
|CBS CBS price target raised to $65 from $48 at Needham|
|Needham raised its price target for CBS following the company's Q2 results and keeps a Buy rating on the stock|
|CTRP Ctrip.com price target raised to $55 from $34 at Brean Capital|
|Brean Capital raised its price target on Ctrip.com and believes the company is poised to benefit from robust leisure travel growth and fast penetration from offline to online. The firm views Ctrip.com as the most valuable strategic asset in China's online travel industry. Shares are Buy rated|
|MA MasterCard price target raised to $707 from $608 at RBC Capital|
|RBC Capital increased its price target on MasterCard after the company reported stronger than expected Q2 results. The firm thinks the company's results were very strong, and it was encouraged by the company's statement that the macro economy is improving. RBC Capital keeps an Outperform rating on the shares|
|Comcast reported solid Q2 results, says RBC Capital|
|RBC Capital says that Comcast's cable and NBC businesses both performed better than expected in Q2. The firm thinks that NBC's results were solid, and it raised its price target on Comcast to $50 from $46. The firm keeps an Outperform rating on the shares|
|AMZN Amazon.com price target raised to $375 from $350 at Bernstein|
|Bernstein believes Amazon Prime is an important long-term strategy that increases wallet shares and average ticket size. The firm believes there are 25M Prime subscribers globally and account for a vast majority of shipping revenues. Shares are Outperform rated|
Will be looking at three plays after the bell: WTW, OPEN, and LNKD. Still a bull on LNKD and think its the best of breed in social media stocks. Considering YELP and FB earnings, figure LNKD continues its unblemished earnings record and beats estimates and hopefully raises guidance. Will try for more premium build and sell half before the close. Already have calls on WTW and OPEN and will try for a few more. Both are risky earning plays, as any earnings play can be.
Here are the strikes I am looking at:
|Stock Ticker||Call/Put||Strike||Expiration||Closing Price||Entry Price|
Lets have a great day!!
See you tomorrow at record highs! (hopefully)