The market failed to make it four green days in a row as the folks in Washington continued to garner all the attention, and the failure to reach an agreement caused some end of day gyrations to the downside. It is getting very close to the ‘deadline’, and would have to figure things need to be resolved before the weekend or things will be very nasty come monday. For now, the market seems to have found a bit of support as the futures are solidly green. I am sure the bears and all those watching T.V. would be wondering why we are even green and would think the market should be down a few hundred points. Give it a few days and I will be in that boat.
Gold found a bid in the morning yesterday and ramped hard into the close, making my DUST position collect dust. Still think GOLD sells off and will hold my GLL calls and DUST calls.
This can be a very tough market to trade, especially for myself. I do best when we have a trend in a stock, so these up and down days can wreak havok. Hopefully the market settles down a bit next week.
Still love SSYS, and may look for another strike today. GOOG, CMG, ISRG, and TZOO report tomorrow. I bought some GOOG calls and will look to lock some in either today or tomorrow. Also have some TZOO NOV 32.50 calls.
Will be keeping it small today, as I will be out most of the afternoon.
Here are the analyst changes of note for today:
|LVS Las Vegas Sands price target raised to $80 from $66 at Susquehanna|
|Susquehanna raised its price target on Las Vegas Sands ahead of Q3 results. The firm expects another solid quarter citing its Macau segment which is seeing continued strength in monthly revenues and improving macro trends in China. Shares are Positive rated|
|YHOO Yahoo results mixed but well-positioned to rebound, says Wells Fargo|
|After Yahoo reported higher than expected EPS but worse than expected search results and lowered its guidance, Wells Fargo thinks the company is well-positioned to benefit from increased Internet ad spending. The firm believes that Yahoo's monetization efforts will begin to bear fruit, and Wells plans to become more constructive on the stock as this occurs. It keeps a Market Perform rating on the shares|
|AMZN Amazon.com benefits from several growth opportunities, says RW Baird|
|Baird believes Amazon.com continues to benefit from multi-year growth opportunities in retail, media, and technology. The firm completed a recent survey of products available for purchase on the site and said the company has a massive opportunity to expand Prime usage and category penetration. Shares are Outperform rated with a $325 price target|
|C Citigroup cost controls can offset revenue challenges, says Wells Fargo|
|After Citigroup reported higher than expected Q3 core EPS, Wells Fargo thinks the company's ability to manage its expenses prudently can offset its weak revenue trends over the longer term. The firm notes that Citi is the only large cap bank it covers which is trading below total book value. Wells keeps an Outperform rating on the shares|
|COF Capital One outlook increasingly cautious into Q3 results, says Stifel|
|Stifel is increasingly cautious on Capital One into the company's Q3 results tomorrow, due to credit trends reported by the company yesterday which Stifel views as disappointing, along with recent increases in the stock price. Nevertheless the firm recommends buying the stock on any weakness following the results, as it expects the shares to perform well in 2014. Stifel keeps a $77 price target and Buy rating on the shares|
AAPL Apple added to the short-term buy list at Deutsche Bank
I will be in San Diego for Stocktoberfest for the next 3 days. I should be around to do the morning watchlist but will be limited in the chatroom. Best way to reach me is via email : firstname.lastname@example.org
With that being said, will be keeping it small the rest of the week. Here are some of the strikes I am watching for today:
|Stock Ticker||Call/Put||Strike||Expiration||Closing Price||Entry Price|
Think folks will be trying to get into SINA ahead of the TWTR IPO in november, and like it over $90 this week, as long as the overall market cooperates. SCTY finalized its offering with a price of 46.54 but did raise the share allotment to 4 million from 3.6 mil. Think that price is higher then what most would expect and the stock rallies over $50. Will probably lock in my $40 calls at some point today and try some more lottos on SCTY as it heads to all time highs.
Lets have a great day!