Futures are red but feels somewhat flat this morning with retail numbers due out this morning. Bernacke did not spill any beans or make any market moving remarks yesterday besides making it sound like QE infinity will not end in 2013. The market has closed somewhat flat the last two trading sessions, which is somewhat welcome as consolidation is needed again before we break to $150 on the SPY.
Tomorrow kicks off some more serious earnings with JPM before the bell and EBAY after the bell. Not playing those but both could swing the market a bit.
All the good news we have seen toward the end of the year on Solar has now turned sour. Another article out today on the oversupply of Solar modules in 2013: http://www.digitimes.com/news/a20130114PD203.html
Obviously puts on FSLR would be the play with the $30 probably the best bet. On watch for now but wont play today unless i see some serious volume to the downside.
Remember that Facebook has an event at 1pm today so something to keep an eye on. Also, an article in the times today about FB taking over GOOG as top search engine if they added search.. http://www.nytimes.com/2013/01/15/technology/fortunes-of-facebook-may-hinge-on-searches.html?ref=business&_r=0
DELL had a boatload of upgrades today on the B/O rumors so be a bit wary there trying to play that for now. Here are some the of the analyst changes this morning:
Apple shares likely to rise on strong Q4 results, says Jefferies
Jefferies expects Apple to report strong Q4 results and issue guidance for Q1 slightly above consensus. The firm thinks the stock will rise on the results and reiterates a Buy rating on Apple with an $800 price target.
Apple weakness a buying opportunity, says RW Baird
Baird believes weakness in Apple is a buying opportunity as most demand factors remain favorable. The firm is raising their Q4 iPhone forecast slightly and believes gross margins will benefit from sales of both the iPhone 4 and IPhone 4S. Shares remain Outperform rated with a $750 price target
Apple PT Lowered from $660 to $530 at Nomura, Neutral rated
Mellanox upgraded to Buy from Neutral at UBS
UBS upgraded Mellanox (MLNX) and raised estimates above the Street due to increased conviction in InfiniBand adoption and discounted Intel (INTC) risks. Price target raised to $65 from $56.
I posted my SHLD calls in chat but was out so was unable to post via twitter or text, SHLD was one of those plays that you see going and just trust the gut. I still think she goes over $50 sometime soon as all the ANALysts talk about retail numbers when its not about that, its an asset play.
I really like ISRG to keep going, the chart shows plenty of room to $530 or so and I think it will happen in short order. Will look to grab more calls this morning. I still have SODA calls and think she breaks $50 today finally. Will look to add more calls there as well.
Strikes I am watching:
|Stock Ticker||Call/Put||Strike||Expiration||Closing Price||Entry Price|
I had to take care of something so was traveling yesterday and will not be back home till friday night. Will try my best to be in the chatroom... ect so you should see little or no change from my normal presence.
Lets have a great trading day!