Make that 5 red days in a row on the SPY, as the market struggles to find momentum. We are nearing the 50dma of 167.42 on the SPY once again. Could be the support level if we get there. The mysterious part of this pullback, has been the complacency of the move, as the VIX has been down 3 of the past 5 days despite the pullback. One would think it would be up 5 of the 5 days? I have a feeling we are going to have a big day(up or down) in the next sessions or two.
UNXL finally paid dividends and was up 20% at times yesterday, an amazing call from UPB! Some of his thoughts on the stock here:
Looks like CLF and WLT are next? : https://www.optionmillionaires.com/2013/chart-based-trade-idea-week-next/
MAKO buyout yesterday put a bid in ISRG, but not enough, and the stock fizzled. Will have to see how that pans out. China ADRs continue to look hot and maybe another breakout day for SINA.
If anyone ever needed a textbook example of why analysts are mostly useless I bring you Facebook. Over the past 2 months the stock has more than doubled and added over $60 billion in market cap value. So the company has performed twice as good the past two months then the previous 12 months ? Obviously they are performing better but a large cap stock like Facebook shouldn’t move 100% in 2 months if folks knew what the heck they were doing.
Here are some of the analyst changes for today:
|FB Facebook video ads likely won't add much value to shares, says Bernstein|
|Bernstein estimates that Facebook's upcoming video ads will only increase the company's revenue by $400M in 2014. The firm thinks the video ads are likely to negatively affect the website's engagement and impressions. It keeps a Market Perform rating on the stock|
|RL Ralph Lauren recent weakness a buying opportunity, says Cowen|
|Cowen would use recent weakness in Ralph Lauren as a buying opportunity and said its survey data is extremely positive for the brand long-term. Shares are Outperform rated with a $204 price target|
|LL Lumber Liquidators price target raised to $135 from $108 at Piper Jaffray|
|Piper Jaffray raised its price target for Lumber Liquidators to $135 after performing a 10-year growth analysis and reiterates an Overweight rating on the stock. Piper believes the flooring industry continues to be set for a multi-year recovery|
|MS Morgan Stanley Q3 EPS estimate lowered at Credit Suisse|
|Credit Suisse lowered Morgan Stanley's Q3 EPS estimate to 41c from 46c, vs. consensus of 49c, due to weaker than expected fixed income contribution and increased litigation costs. Shares are Neutral rated with a $26 price target|
|SOHU Sohu.com initiated with an Outperform at Credit Suisse|
|BIDU Baidu initiated with an Outperform at Credit Suisse|
|SINA initiated with a Neutral at Credit Suisse|
|FB Facebook price target raised to $60 from $37 at Jefferies|
|Jefferies raised its estimates for Facebook citing the company's "promising" new ad products and upped its price target for the stock to $60. The firm sees room for further margin expansion at Facebook as the company monetizes its 1.15B user base and keeps a Buy rating on the stock|
|JCP J. C. Penney price target lowered to $7 from $11 at Citigroup|
|Citigroup lowered its price target for J. C. Penney shares to $7 on concerns the retailer's turnaround is taking longer than expected and its vendor relationships are deteriorating. Citi thinks J. C. Penney has enough cash for 2013, but feels it’s prudent for the company raise capital to "cushion against a potentially challenging Holiday season." Citi reiterates a Sell rating on shares of J. C. Penney, saying its basic liquidation valuation analysis indicates the floor in the stock could be $1 per share. Shares of J. C. Penney closed yesterday down 15%, or $1.78, to $10.12|
|LNKD LinkedIn price target raised to $280 from $250 at Wunderlich|
|Wunderlich raised its estimates for LinedIn saying the company's Talent solutions unit should continue to outperform growth expectations in Q3. The firm upped its price target for shares to $280 and keeps a Buy rating on the stock|
Here are the strikes I am looking at:
|Stock Ticker||Call/Put||Strike||Expiration||Closing Price||Entry Price|
CF has been on a tear and think the mojo continues. WIll also look to get some SINA calls if it shows strength.
Lets have a great day!