Dy 3 of green futures as the risk-on rally continues. Well I wouldn't call it a rally yet, but it's starting to feel like the market has its found its footing after last weeks sell-off. We had some nice movers yesterday. FOSL moved well right out of the gate, AAPL traded higher most of the day, and BLK finally let loose. Looks ike we are in for another green day and I think the focus needs to be on some of the high risk-on names like KORS, FOSL, and others as well as some great companies that have been laggards like BLK. The Debate last night seemed to be a draw but folks are saying Obama won on less expectations. Romney win means a market rally and some of the resource stocks to rally, as well as some of the green cmpanies go down like Tesla, something to watch over the next few weeks.
We did have some earnings reports after the bell yesterday and this morning. ISRG destroyed estimates but concerns over procedures has the stock down. BAC and PEP reported this morning and both are somewhat flat. BLK reported a great quarter beating REV and EPS, and the revenue growth was the first in sometime. Hopefully that pushes us over $200. We have AXP after hours, and Thursday brings GOOG and CMG.
Here is what I am watching:
|Stock||Call/Put||Strike||Expiration||Closing Price||Entry Price|
I like BLK and think the way to play maybe to get some NOV calls as well as possible playing for a move over $200. CAT started a reversal yesterday and could move another $3, making the 87.50s a 5x bagger. CLF starting to move to $48+, bought some of the $47s yesterday @ .11, and will add more. KORS was pointed out by Gambler in chat and looks to be breaking out again PM, one to watch as we added 60c yesterday. Still hopeful on WYNN, SODA, MLNX, CLF, LNKD, and FOSL.
Unless I see some serious volume on ISRG, I will not look to play again. Have some 640 NOV calls.
Lets have a great day folks!