Markets closed mixed on Thursday, with stocks hitting highs at 2pm, only to pare the gains into the close. Asia markets closed lower once again overnight with the Nikkei falling nearly 1% , while Europe stocks are also lower this morning. U.S. futures are in the red, with the S&P pointing to a .58% lower open. The Dollar is higher, while Treasuries, Oil, and Gold are flat.
And this is what UPB is reading this morning : https://www.optionmillionaires.com/friday-morning-reads-34/
It was a huge afternoon for earnings on Thursday, with AAPL, AMZN, and GOOGL reporting(amongst others) - together the companies are worth over $2 trillion. AAPL and GOOGL reported some decent numbers, but were mixed. Both shook off early weakness and are receiving upgrades this morning. So much negativity on AAPL into the report so almost seems to be a sign of relief but likely pressured today. AMZN beat on all metrics and showed strong growth which was to be expected. The irony here is that some are starting to think AMZN will start eating GOOGL's lunch. I may try some lotto GOOGL puts today to play for a move to $1120. If AMZN opens at 1450 I may try some lotto calls for a possible test of $1500.. Both trades will rely on pricing - will not trade lottos costing more than .50 a contract.
LFIN is gapping lower this morning, would think some has to do with the continued sell-off in Bitcoin and cryptocurrencies in general. Spent some time reading LFIN filing last night and this morning and it is a comedy, just one of many tidbits that had me more convicted this is going under $20 very soon(and lower):
$LFIN uses an email from $ICE in their filings to validate their Stampede subsidiaries business…
this is hysterical.. i think I have a few emails from some Forex and Brokerage companies I can share, maybe I can IPO pic.twitter.com/XHQgmPLnyu
— Option Millionaires (@OMillionaires) February 2, 2018
Still looking to add some lower strikes, may do it today but only after I have locked some of my Feb 30 puts in.
I did one trade yesterday, locking in the last of my IBB puts to make sure it was a profitable trade. Not sure I will revisit today.
CMG was downgraded yesterday from the same UBS analyst who had a $460 price target on the stock in June. Not going to average down or add anything on CMG. The possibility of more garbage Iwaspoisoned.com reports coupled with the negativity makes it a little more difficult for me to add with the concern of something further coming out. Hopefully the earnings report out Tuesday will quell concerns and provide a catalyst for the big move to $400.
Next week also bring some other exciting earnings reports, led by TSLA on Wednesday. Still looking to add a position there.
It is lotto friday, with the recent volatility I will likely be a bit more aggressive than normal. Will denote any friday lotto trades as such.
Another close under $282 for the SPY, that $279 area is the next spot I would add a hedge :
Here are the analyst changes of note for today:
| Cypress Semiconductor price target raised to $23 after earnings at Craig-Hallum | |
| Craig-Hallum analyst Anthony Stoss raised his price target on Cypress Semiconductor to $23 from $21 after the company reported better than expected Q4 results and gave what he views as strong Q1 guidance. Cypress' initial FY18 guidance for the IoT segment calls for about 17% growth, though management "gave itself cushion to raise this number throughout the year," said Stoss, who keeps Buy rating on the stock | |
| Amazon price target raised to $1,750 from $1,410 at Credit Suisse | |
| Credit Suisse analyst Stephen Ju raised his price target on Amazon to $1,750 following the company's "clean beat across all segments" in Q4. To support the higher target Ju points to a lower tax rate as well as his new assumption of a higher growth trajectory for advertising. He maintains his Outperform rating on Amazon shares | |
| AutoZone price target raised to $875 from $675 at Argus | |
| Argus analyst Chris Graja raised his price target on AutoZone to $875, saying the company stand to benefit from an aging vehicle fleet, low gasoline prices, and increasing miles driven per car in addition to lower tax rate for the entire 2018 estimated at 27% vs current 34%. Graja keeps his Buy rating on AutoZone | |
| Intercept label update is best case scenario, says Deutsche Bank | |
| Deutsche Bank analyst Navin Jacob says the updated label for Intercept Pharmaceuticals' Ocaliva is not just a good case, it is the best case. The black box warning and lack of restrictions in any patient population is a "big positive surprise," Jacob tells investors in a research note. The monitoring appears to be a "complete non-issue" as it is likely only once every three-to-six months, the analyst adds. He trimmed his price target for the shares to $103 from $106 and keeps a Buy rating on Intercept | |
| Deutsche Bank remains bullish on Alexion ahead of data | |
| The upcoming read-outs from two ongoing Phase 3 trials in paroxysmal nocturnal hemoglobinuria comparing ALXN1210 versus Soliris will be critical to the success of Alexion shares both in the near and long-term, Deutsche Bank analyst Andrew Peters tells investors in a research note. The analyst remains bullish on the stock into the read-outs saying the data suggest a highly effective clinical profile. He keeps a Buy rating on Alexion with a $163 price target | |
| Mosaic initiated with an Overweight at Stephens | |
| Stephens analsyt Mark Connelly initiated Mosaic with an Overweight and $37 price target. The analyst believes Mosaic has emerged as the industry's most credible capital allocator in a period of industry-induced excess capacity. CEO James O' Rourke's decision to acquire the Vale assets addresses the global competitive challenge from MENA producers, and comes while Brazil and phosphate markets are severely depressed, exactly when they should be bought, Connelly contends. Connelly believes Mosaic is positioned to have the biggest rebound among major ag input producers | |
| Tableau upgraded to Hold from Sell at Maxim | |
| As reported earlier, Maxim analyst Nehal Chokshi upgraded Tableau (DATA) to Hold from Sell and raised his price target to $88 from $40. The analyst cites normalized bookings accelerating to 26% growth in Q4 and sees normalized sales productivity stabilizing at about a 33% level. Chokshi also contends that Tableau appears to be navigating the competition with Microsoft (MSFT) and its "significantly lower cost of Power BI" | |
And here is what i am watching today:
|
Stock Ticker |
Call/Put |
Strike |
Expiration |
Closing Price |
Possible Entry Price |
|
LFIN |
PUT |
$20.00 |
March 16th |
1 x 1.45 |
1.25 |
|
TSLA |
Call |
$405.00 |
Feb 16th |
.94 x .99 |
0.90 |
|
SODA |
Call |
$95.00 |
Mar 16th |
.55 x .85 |
0.65 |
And some possible Friday LOTTO trades:
|
Stock Ticker |
Call/Put |
Strike |
|
GOOGL |
PUT |
$1,120.00 |
|
BIDU |
PUT |
$235.00 |
|
AMZN |
CALL |
$1,495.00 |
Let's have a Great DAY!
-JB