It was an up and down day yesterday, with the market opening in the green, fading mid-day, then rallying into the close, with the S&P closing higher for the 5th day in a row, while the Nasdaq closed slightly lower. Gold rallied hard yesterday - folks trying to explain the move cited Yellen... i guess that works for now, but I think it’s from all those hedge funds underperforming squeezing the metal as well as the miners. Still not in puts yet, but will wait a bit for dust to settle then may look for some GLL calls(next week maybe)
Futures are somewhat flat this morning, with Europe shares fading from highs. Today is Quadruple witching :
“stock index futures, stock index options, stock options, and single stock futures will all expire. Such a day occurs only once each quarter”.
Expect more stock ‘pins’ then normal and maybe a bit more volume.
I made quite a few trades yesterday and now have some weeklies in CELG, GOOGL, SHLD, and others I will need to keep a close eye on this morning. I may look to try for some lotto YELP calls and add more SSYS, but otherwise will try to tie my hands up and stand pat.
Here are the analyst changes of note for today:
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GE New General Electric offer for Alstom positive, says Bernstein |
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After GE announced a revised offer for Alstom, Bernstein thinks the new offer will generate less accretion for GE and be more complex to manage. However, the firm thinks the new offer is better than the previous one for GE because it reduces the company's project risk. Bernstein keeps a Market Perform rating on GE |
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CF CF Industries shares poised to move higher, says Morgan Stanley |
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Morgan Stanley said CF Industries shares have been pressured due to investor concerns about corn and urea prices. The analyst expects shares to reverse and said corn prices are not determined urea prices and that the seasonal decline in urea prices will is almost over given low inventory and imports. Shares are Overweight rated |
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TAP Molson Coors upgraded at Morgan Stanley |
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As previously reported, Morgan Stanley upgraded Molson Coors to Equal Weight from Underweight. The analsyt upgraded shares due to valuation, improving fundamentals and disciplined capital allocation |
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PETM PetSmart downgraded to Neutral from Outperform at Wedbush |
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Price target $60. |
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ORCL Oracle downgraded to Neutral from Buy at Citigroup |
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Citigroup downgraded Oracle (ORCL) to Neutral citing weak license growth and "relatively aggressive" Q1 targets following the company's Q4 results. Citi lowered its price target for shares to $41 from $44 and says it would rather own SAP (SAP) shares |
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DECK Deckers Outdoor initiated with an Outperform at Wells Fargo |
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Price target range $92-$98 |
Oppenheimer Initiates Coverage on Zillow, Inc. at Perform
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ANR Alpha Natural should be bought at current levels, says Sterne Agee |
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After meeting with Alpha Natural's management, Sterne Agee expects the company to benefit from normalizing thermal and metallurgical coal prices. The firm thinks that U.S. thermal prices could "pop" in 2014, and it believes the market is underestimating several of the company's positive catalysts. It recommends that risk-tolerant investors buy the stock |
Here are my current positions:
Here are the strikes I am looking at for the open:
|
Stock Ticker |
Call/Put |
Strike |
Expiration |
Closing Price |
Possible Entry Price |
|
YELP |
Call |
weekly |
$78.00 |
.25 x .40 |
0.30 |
|
SSYS |
Call |
June 28th |
$110.00 |
.10 x .35 |
0.25 |
I will be holding the Week Ahead Webinar at 8:15 am Sunday morning. It will be recorded and on the blog during the day. Sorry for the inconvenience. Register here : https://www.optionmillionaires.com/live-event-classes-jtv/
Lets have a great end to the week!
-JB