The market closed at another high yesterday and looks set to start green today. Volume continues to be somewhat light, but to me that means there are less sellers. Expecting more of the same today with a low volume day that closes green or close to it.
Yesterdays action on FOSL disappointed as it bolted out of the gate to 115, only to fade the rest of the day and close near lows at 110.65 . Playing history can sometimes work, but when it doesnt, it can be painful. BWLD also reported earnings yesterday but issued a cautious guidance. The stock sold off over 6% and is red pre-market. Looks like analysts may overlook the outlook as excessively cautious and the stock may see 85+ today. Will play it that way.
Quite a few folks were asking about when i sell an option or when i put in limits. I figure I will do a webinar or write a piece on that when i get a chance. But here is a quick summary:
I do not put in stops, and I post my sells via twitter and chatroom. If I dont post a sell on a position i am in, that usually means it expired worthless, unless I forgot to post it. The site is a tool in your trading arsenal. We are not a buy and sell recommendation site per say.
The best way to use this site if you are knew to options is paper trade and learn. Veteran traders use the chatroom as a news source and for trading ideas. And I know their are a bunch of folks who are just there to follow me or other traders. I will go into this is more detail some other time, just wanted to provide a little clarity here.
Here are some of the analyst changes today:
Netflix price target raised to $205 from $180 at JPMorgan
JPMorgan raised its price target for Netflix shares after meeting with management and reiterates an Overweight rating on the stock. The firm said its meetings indicated House of Cards is off to a strong start and that Netflix is back on track toward disrupting the linear TV market. JPMorgan says original programming could help drive subscriber upside in 2013
)
Buffalo Wild Wings EPS guidance looks conservative, says RBC Capital
RBC Capital continues to believe that Buffalo Wild Wings could generate significantly higher than expected EPS, and the firm maintains an Outperform rating on the stock.
Groupon upgraded to Buy from Neutral at Sterne Agee
Sterne Agee upgraded Groupon based on valuation discount and a constructive long-term view of its business. Price target is $9.
Fossil price target raised to $130 from $108 at Citigroup
Citigroup raised its price target for Fossil following the company's Q4 results and says the stock remains one of its top picks for 2013. The firm reiterates a Buy rating on the stock
I am in quite a few positions (and I dont see much for the open)so watchlist is small this morning:
Stock Ticker | Call/Put | Strike | Expiration | Closing Price | Entry Price |
BWLD | CALL | $85.00 | Weekly | 2.00 | 0.10 |
WTW | CALL | $65.00 | March | 0.60 | 0.60 |
WTW | CALL | $67.50 | March | 0.50 | 0.45 |
If I see BWLD starting to get a bid at the open, will try for some lotto calls for a possible reversal. Still like WTW but premiums have increased everyday even though the stock is down. March calls only cost 10% more for 4 more weeks, so that is the better play. Will try 65/67.50 calls.
I still love SAM, SHLD, SODA, and OPEN amongst the positions I hold. Will update via twitter and chat throughout the day.
Happy Trading!
- jimmybob