The DOW crossed 16,000 for the first time and the SPY ramped into all-time highs yesterday only to fade at the trading day's end. TSLA continued to be under pressure and broke under $130 while SCTY also saw some selling and broke under $50 in the afternoon. Some of the pullback in SCTY can be attributed to this Congressional inquiry : http://blogs.barrons.com/techtraderdaily/2013/11/18/barrons-story-on-solarcity-sparks-congressional-inquiry/?mod=yahoobarrons&ru=yahoo .
3-D stocks continued to ramp higher yesterday with my favorite, SSYS, hitting new highs. I locked my $145 calls in, as I'm worried about a pullback on the stocks. I still love the sector, however, and will be jumping back into SSYS when it looks right.
HD reported another strong quarter this morning and the stock is back over its May 213 high while BBY also reported a nice quarter but warned on margins going forward, thus putting the stock down pre-market.
Bitcoin continues to gather some attention as it broke above $600 yesterday, while also hitting $900 last night, though it eventually fell back into the $500s. It's crazy to watch the trading, but that's all I'll do for right now.
I grabbed some ICE January $230 calls and think the stock is poised to break out over $210 this week. The January strikes will give the stock plenty of time to get to $220, and that was my reasoning in getting January instead of December.
I saw some weakness in AAPL and bought some $505 puts near the end of the day. I'll be quick to close them out if I see strength this morning, however. And here's why I bought some: http://stocktwits.com/message/17489521
Not too many analyst changes for today, but here are the ones of note:
|GME GameStop is transition period winner, says RW Baird|
|Baird views GameStop as a transition period winner that benefited from strong sales of GTA V and strong digital and Mobile growth offsetting slower sales of current-gen hardware and software. The firm sees GameStop as a way for investors to play the new console cycle and sees earnings upside in 2014 and beyond. Shares are Outperform rated with a $57 price target|
|CVS Caremark to benefit from healthcare reform, says Jefferies|
|Jefferies says CVS Caremark is well positioned to benefit from healthcare reform after its research indicated the company stands to be the biggest pharmacy benefit manager beneficiary from Medicaid expansion. The firm keeps a Buy rating on CVS with a $71 price target|
|CRM Salesforce.com price target raised to $65 from $54 at Canaccord|
|Canaccord said Salesforce.com's earnings report was solid and positions the stock well for 2014. Salesforce.com is Canaccord's favorite large-cap growth stock for 2014 given growth rates and cash flow margins. Shares are Buy rated|
|GMCR SunTrust cautious ahead of Green Mountain's Q4 report|
|SunTrust is confident Green Mountain will beat its $970M revenue estimate, consensus $964M, but has concerns regarding decelerating K-Cup growth reported by Nielsen and that FY14 guidance will be back-end loaded. The firm said the company shipped 5M brewers in Q1, making comps difficult. Shares are Neutral rated with an $80 price target|
|P Pandora Q3 ad revenue likely to beat expectations, says MKM Partners|
|MKM Partners expects Pandora's Q3 ad revenue to surpass expectations. However, the firm continues to believe that the company's EPS will not exceed $1 in 2015, and it expects the stock to undergo "a meaningful correction" when revenue momentum slows. The firm keeps a Sell rating on the stock|
|JACK Jack in the Box attractively valued, says BofA/Merrill|
|BofA/Merrill expects Jack in the Box to report Q4 EPS of 41c vs. consensus of 39c, on flattish comps. The analyst believes shares are the least expensive in the quick service restaurant universe and maintains its above Street FY14 EPS estimate of $2.20. Shares are Buy rated with a $50 price target|
WHR Whirlpool downgraded to Market Perform from Outperform at Raymond James
|DE Deere likely to guide consensus estimates lower tomorrow, says UBS|
|UBS said the proposed EPA announcement to reduce renewable fuel standards for 2014 is a headwind for ethanol production, combined with tightening credit conditions, and falling farmland values in certain regions, will result in weakening order trends for Deere. The firm expects Deere to guide 2014 consensus estimate lower tomorrow and reiterates its Sell rating and $72 price target|
Yesterday's fade in SHLD provides a nice opportunity to grab some long some calls before earnings (I'll most likely sell all of them before earnings if I do get in, though). I may also try for some more ICE calls with CC this morning, amid news of synergies from the NYX merger.
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Let's have a great day!