The Market fell the most since Nov 2011 yesterday, as the bears took hold and the SPY close substantially under it’s 50dma. Of course I am still bullish here, but will continue to rethink my outlook as we move forward. The next possible stop on the SPY if we continue to fall would be the 200dma, an area we havent breached since November. Futures ramped overnight and have been fading since 7am. Will be interesting to see if we hold or the rout continues.
The Silver and Gold flush finally came to fruition. Although they moved green overnight, I expect Gold and Silver to be solid red again today and may look to play some lottos on GLL/DUST again.
Will have some updates during the week ahead Webinar Sunday night, and discuss targets for SPY, GOLD. SILVER... ect.
Here are the analyst changes for today:
ORCL Oracle weakness a buying opportunity, says Canaccord |
Canaccord said Oracle's Q4 report was more or less in line and that the dip in shares is a buying opportunity. The firm expects shares to be a safe harbor and that shares can outperform the overall market. Shares are Buy rated with a $38 price target, down from $3 |
BBRY BlackBerry sell-through "muted," says BMO Capital |
BMO Capital believes that BlackBerry built many more devices than it sold in its May quarter, and it expects the company to report flat to slightly negative cash flow from operations for its May quarter. The firm keeps an Underperform rating on the stock |
RAX Rackspace upgraded to Outperform from Neutral at Cowen |
Cowen upgraded Rackspace due to valuation and expected accelerated revenue growth |
ANGI Angie's List price target raised to $31 from $29 at Stifel |
Stifel believes that Angie's List's ecommerce opportunity is more expansive than investors appreciate. The firm raised its estimates for the company, and its estimates are well above consensus levels. It reiterates a Buy rating on the shares |
NTGR Netgear upgraded at Wedbush |
As previously reported, Wedbush upgraded Netgear to Outperform from Neutral. The firm upgraded shares due to valuation and upcoming 2H 2013 catalysts that include 802.11ac retail momentum, new commercial product releases, and reduced service provider earnings dependence. Price target raised to $38 from $32 |
FB Facebook Instagram announcement positive, says RBC Capital |
After Facebook announced that it would enable Instagram users to record and upload 15 second video clips to be shared in the same way as photos, RBC Capital thinks the move will make Instagram more compelling for users and open the door to lucrative video ads. The firm reiterates an Outperform rating on Faceboo |
QCOR Questcor upgraded to Neutral from Underperform at BofA/Merrill |
Price target raised to $51 |
BBBY Bed Bath & Beyond reiterated as an Outperform at Credit Suisse |
Credit Suisse continues to view Bed Bath & Beyond as one of the cheapest ways to play the strong housing market. The firm believes expectations are low ahead of next week's report and that commentary regarding the dividend, margin stability, and World Markets rollout will send shares higher. The firm rates Bed Bath an Outperform with a $75 price target |
Will be keeping it small today. Could be a fun lotto day on either side because I think we will continue the 100 pt swings in the dow, which is good for options if your on the right side of the trade.
Here are a few strikes I am looking at today:
Stock Ticker | Call/Put | Strike | Expiration | Closing Price | Entry Price |
GOOG | CALL | $900.00 | Weekly | 0.55 | 0.50 |
PCLN | CALL | $835.00 | Weekly | 0.40 | 0.30 |
GLL | CALL | $104.00 | Weekly | 0.95 | 0.35 |
Lets have a great day!!
- JB