Here is the live with UPB webinar from earlier today:
https://www.optionmillionaires.com/forum/showthread.php/574-Live-with-UPB-9-16-13?p=934#post934
Here is the live with UPB webinar from earlier today:
https://www.optionmillionaires.com/forum/showthread.php/574-Live-with-UPB-9-16-13?p=934#post934
Welcome to new all-time highs! I think I have said that quite a few times this past year, and would guess we continue to see some more in the coming weeks/months. Larry Summers withdrawal for the nomination to replace Ben as Fed chair, reduces some uncertainty around how quickly the taper will occur. The market always likes some certainty, couple that with reduced Syria concerns and you have futures that ramped up over 1% and global markets in rally mode. Gold and Silver also rallied on the news but have since lost ground and look poised to go red.
There will be many stocks gapping so need to be wary about adding any positions at the open. I dont think we have a gap and trap, but I also dont think we will rally too much further today, so the risk to get in on a gap outweighs possible reward.
Here is the week ahead Webinar for those that missed it last night: https://www.optionmillionaires.com/forum/forumdisplay.php/5-Week-Ahead-with-UPB
Love CBRL into earnings and will look to get a little more on the call side so I can lock some of the Oct 115s in. Also love OPEN on a break over $77.50 and will look to add to my call positions on that one.
SCTY is getting a nice bid pre-market with a nice write-up in the WSJ over the weekend on solar installations. LIke this one to continue to bounce and will try for some weeklies.
All eyes are on the FOMC meeting this week with the big announcement at 2pm followed by a press conference by Big Ben. Should be a fun day!
Here are some of the analyst changes for today:
UPS UPS upgraded to Overweight from Equal Weight at Barclays |
Barclays upgraded UPS based on improving economic data and expanding growth |
HAIN Hain Celestial price target raised to $91 from $74 at Jefferies |
Jefferies raised its price target for Hain Celestial shares to $91 to reflect expectations for around 20% earnings growth in FY14. The firm keeps a Buy rating on the stock |
INTU Intuit share repurchases likely more than guidance forecast, says Oppenheimer |
After Intuit announced that it had paid $1.4B to an investment bank to enact its repurchase of shares by December 2013, Oppenheimer believes that the amount of share repurchases was greater than anticipated by the company's FY14 EPS guidance. The firm thinks the company's risk/reward profile is favorable ,and it reiterates an Outperform rating on the stock |
VFC VF Corp. price target raised to $224 from $195 at JPMorgan |
JPMorgan raised its price target for VF Corp. shares after meeting with management and keeps an Overweight rating on the name |
MGM MGM Resorts price target raised to $25 from $20 at JPMorgan |
JPMorgan raised its price target for MGM Resorts shares to $25 citing improving Las Vegas Strip trends and keeps an Overweight rating on the stock |
WU Western Union upgraded to Buy from Neutral at Sterne Agee |
Sterne Agee upgraded Western Union based on improving momentum and easier 2014 revenue and expense comps. Price target raised to $22 |
FB Facebook price target raised to $52 from $46 at Goldman |
Goldman views video as a significant opportunity for Facebook and a compelling proposition for brand advertisers. The analyst reiterates its Buy and raised its price target to $52 in order to bring the multiple in-line with peers |
UA Under Armour downgraded to Neutral from Positive at Susquehanna |
Susquehanna downgraded Under Armour based on valuation. Price target remains $77 |
Here are the strikes I am looking at for the open:
Stock Ticker | Call/Put | Strike | Expiration | Closing Price | Entry Price |
CBRL | CALL | $120.00 | OCT | .10 x .50 | 0.30 |
SCTY | CALL | $46.50 | Weekly | 0.50 | 0.50 |
Will keep it small today most likely.
Lets have a great day!!
- JB
For those unaware. S&P / Dow Jones removed and replaced three stocks from its Dow Jones Industrial Average last week. The stocks removed were Hewlett Packard (HPQ), Alcoa (AA), and Bank of America (BAC). These stocks were replaced by Goldman Sachs (GS), Nike (NKE), and Visa (V). The addition of these three relatively high-priced (in absolute terms) may have solved a problem hindering the price-weighted DJIA's performance for months; IBM's massive (10%) weighting. Take a look at this video to see why I think this move may result in the Dow becoming a new outperformer, relative to the other major large cap indexes, in the weeks ahead.
EDIT: Oops, Chevron (CVX) is currently the 2nd most weighted DJIA component, but 3M (MMM) falls just behind!