Today is a shortened trading session with the markets closed tomorrow for the holidays. I will be taking it very cautious and may not take any positions until wednesday due to premium erosion. You can still see the headlines out there making it seems like the fiscal cliff is devastating the futures, yet we are just slightly red.
Fiscal-cliff worries depress U.S. stock-index futures
Again, I think the market moved up a little to quick last week, and we are consolidating for the move to $150 on the SPY.
Here are some of the key analyst changes this morning:
(FB)
Facebook price target raised to $33 from $25 at Needham
Needham raised Facebook 2013 estimates to 65c/$6.5B from 59c/$6.27B based on strong mobile revenue growth, upside from its closed system global platform, and upside from new revenue streams. Shares are Buy rated.
(TRIP)
TripAdvisor price target raised to $51 from $38 at Needham
Needham raised its price target for TripAdvisor citing greater optimism about the company's long-term growth. The firm expects TripAdvisor to exceed consensus expectations in the first half of 2013 and keeps a Buy rating on the stock.
(JCP)
J.C. Penney more aggressive promotions positive, says Oppenheimer
After visiting two J.C. Penney stores over the weekend, Oppenheimer believes that the retailer's more aggressive price promotions will drive traffic, improve its cash generation, and boost the company's turnaround effort. The firm reports that store traffic remained solid and it maintains an Outperform rating.
Here are some nice articles this morning. I think WYNN could see a surge the next day or so, and will try for some $120 class to flip. Dont expect it to go over 120 but maybe break $115 finally. WIll not play SINA today but the article below may renew concerns over the China government intervening in censorship once again, limiting SINA long term.
Nice read for SINA : http://professional.wsj.com/article/SB10001424127887324660404578198872669335126.html?mg=reno64-wsj
WYNN signs deal for option to buy land in Mass : http://www.lvrj.com/business/wynn-signs-option-to-buy-land-for-massachusetts-casino-184476541.html
Limited watchlist this morning as I plan on being very strict on any plays today.
Stock Ticker | Call/Put | Strike | Expiration |
MON | CALL | $100.00 | JAN |
WYNN | CALL | $120.00 | weekly |
SODA | CALL | $50.00 | Jan |
I still love SODA here for over $50 sometime in January. I also continue to like Monsanto and will try for some $100 JAN calls sometime int he next few trading sessions.
I do want to wish everyone a Happy Holiday and Merry Christmas!
Lets have a great trading day today!!!
- JImmybob