A great day yesterday, as Zillow and CRM provided some great money making
opportunities, and GOOGL continued to ramp slowly higher. SHLD bounced in the afternoon and looks set for a $40 break. Small Caps and the Nasdaq led the overall market higher, while the S&P was up .24% and the DOW up fractionally. The SPY is right near the upper bollie which is $190.11, so will need a strong day to break through and close above for the first time ever. The VIX was green for the day, and closed back above 12, which is another good sign.
We have a 3 day weekend, and probably the first time in a while with less worries about the futures come sunday(monday night) from an event in Ukraine or elsewhere. Friday has been one of the worst performing days of 2014, so will be interesting to see if we can break the trend and continue this march to new highs.
Will most likely be doing the Week Ahead Webinar Sunday morning at 8:15 am. Hope thats not a problem for anyone, and of course it will be recorded and available by Sunday night or Monday morning the latest. (Registration Link: Registration URL: https://attendee.gotowebinar.com/register/6977330724180952834 )
Here was the recap from yesterday : https://www.optionmillionaires.com/may-22nd-2014-positions-market-update/
Will be looking to lock my weekly $Z position in, and hopefully CELG will allow me to lock some gains in. Will also look for a gap on GOOGL to lock some of the 565 calls in.
Here are the analyst changes of note for today:
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AGN Credit Suisse continues to recommend Allergan |
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Credit Suisse continues to recommend Allergan (AGN) as a strong standalone company given the strong base business and balance sheet and could potentially fend off a Valeant (VRX) completely. The firm believes Valeant (VRX) could pay well above $200 per share, mostly in stock, to get a deal done but said the level of cost savings would impact Allergan's top-line growth and could lead to value destruction. Shares of ALlergan are Outperform rated with a $190 price target |
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HPQ HP still poised for growth in FY15, says Wells Fargo |
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After HP reported roughly in-line results and announced more layoffs, Wells Fargo notes that HP said it was more confident in its growth outlook, and the firm thinks the layoffs may reflect newly discovered cost cutting opportunities, rather than end market pressures. Wells continues to expect the company to grow in FY15 and keeps an Outperform rating on the shares |
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CMG Chipotle valuation attractive following decline, says Bernstein |
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After Chipotle dropped sharply following its March peak, Bernstein expects the company to benefit next year from its price hikes. The firm expects the company's comps to remain in the high single digit percentage range, and it keeps a $640 price target and Outperform rating on the shares |
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PEP PepsiCo likely to be more influenced by Trian, says Stifel |
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After meeting with Nelson Peltz and other Trian partners, Stifel expects Trian to nominate candidates for the company's board PepsiCo does not announce plans to split the company before that time. The firm expects Trian's influence over the company to increase. Stifel keeps a Hold rating on the stock, but says it could become more constructive over time, especially if Trian wins a board sea |
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SALE RetailMeNot downgraded at Stifel |
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As noted earlier, Stifel downgraded RetailMeNot (SALE) to Hold from Buy. The firm thinks that up to 20% of Google (GOOG) traffic referrals to RetailMeNot have been negatively impacted by a Google search algorithm change. Stifel thinks that RetailMeNot's revenue and EPS are likely to significantly decelerate |
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FEYE FireEye upgraded to Overweight from Equalweight at Barclays |
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Barclays upgraded FireEye to Overweight citing the recent pullback in shares. The firm lowered its price target for the stock to $40 from $50 |
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YOKU Youku Tudou price target lowered to $27 from $36 at Brean Capital |
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Brean Capital lowered its price target on Youku Tudou to $27 following its Q1 report, citing the highly competitive nature of online video, but the firm sees the company transforming its business model, revenue sources, investments, and content as reasons to maintain its Buy rating |
Here are my current positions:
Will be looking at BIIB at the open. ISRG may also be a play but the calls are too pricey, stay tuned to chat and private twitter for updates:
|
Stock Ticker |
Call/Put |
Strike |
Expiration |
Closing Price |
Possible Entry Price |
|
BIIB |
CALL |
$307.50 |
weekly |
.30 x .40 |
0.40 |
I am working on the new private twitter feed as we speak and should have it done before the start of trading Tuesday. I will make sure all requests are approved and send test tweets all weekend. Thanks again for your patience..
Lets have a great day, and have a GREAT Memorial Day Weekend(for those in the states!!!
- JB
Any thoughts about NFLX for next week?
Shekhar