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  • Earnings Wrap-Up 7/30/2013: CF, AGU, POT, MOS, DDD, COH, CVLT, CMI, OXY, AMGN, QCOR, RVBD, SYMC, AAPL

    This morning, Russia's Uralkali Group, the world's largest fertilizer producer, announced that it will end its joint venture with Belarusian Potash Co and added that prices of potash should fall significantly. The news stunned the agriculture investors and sent the stocks tumbling. POT and MOS fell the most, 16.54% and 17.28%, respectively. CF, which popped more than $20 yesterday after hedge fund Third Point took a stake in the company, slid 2.5%. AGU fell 5.39%.

    DDD missed its profit expectations and fell 4.67%. COH reported a disappointing quarter, sending its shares down 7.87%. CVLT vaulted nearly 10% reporting an rise of 33% in net income. CMI shares initially popped after beating it estimates, but, ended the day up just +1.54% at $118.23; CMI shares traded as high as $123.9 early in the morning. OXY reported a flat quarter with revenue up, but, its shares slipped 2.39%.

    After the market, AMGN shares traded initially higher after reporting results that beat the estimates. However, AMGN shares ended the evening trading down almost 2%. QCOR easily beat its earnings estimates and saw its shares pop +14.62%. RVBD reported a quarterly loss, sending its shares down 15.46%. SYMC delivered a solid quarter and its shares went up +3.7% in after-hours trading.

    The broader market is still consolidating. It is certainly a "stock-picking" environment right now. Earnings and news are mostly driving the big movements. AAPL seems to be getting some buyers. AAPL has basically missed all of this year's market rally. In fact, it is still down for the year. It has enjoyed a little 2-day rally, up about $15. We cashed out our AAPL calls with an overnight gain of +82%:

    09:05 | Ecstatic Plays AAPL ($457.00) Sold to Close 0809C450 Aug 450 calls, at $10.10 +82%

    We could see AAPL continue to run higher from here to test the next resistance at about $460 to $470.

    (to subscribe to our trade alerts, please visit our Services Page or CLICK HERE to watch a step-by-step instructional video)

    We are trading lightly right now, taking just a few positions and staying mostly in cash. You'll likely "feel" the move when this market is ready to make its next move. It has been consolidating between 1680 and 1690 for a while now. Let's stay a little more patient.

    Good night and HappyTrading! ™

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    Aug 01 1:28 AM | Link | Comment!
  • Stocks Rally Back To Erase Morning Loss! HPQ, VIX, PCLN, GLD, CRUS, APC, MPC, TSO, WDC, STX, MRVL

    Last night, Asian markets took huge drops after manufacturing data from China came out weaker than expected. Japan's Nikkei tumbled more than 7%! This morning, SPX gapped down 20 points at open, but, buyers came in after about an hour into the trading. There were some big swings! For instance, PCLN traded as low as $784 at open and ended the day above $803, almost a $20 swing. Energy stocks such as APC, APC, and TSO all bounced right back before the close.

    Gold and silver bounced as well. GLD gained +2% and could turn bullish.

    HPQ popped more than +17% as the company raised its forecast. We picked up HPQ calls yesterday just before the close and scored an overnight +113% winner. We took some profits today and also cut some losses:

    • 12:51 | HappyTrading TSLA ($92.70) Sold to Close 0531C95 May 95 calls, at $2.70 +6%
    • 07:01 | HappyTrading MOS ($58.60) Sold to Close 06C62.5 Jun 63 calls, at $0.45 -72%
    • 06:54 | HappyTrading VIX ($15.00) Sold to Close 0619C15 Jun 15 calls, at $2.00 +38%
    • 06:53 | HappyTrading HPQ ($23.80) Sold to Close 06C21 May 21 calls, at $2.80 +115%

    The Dow ended down 12.67 points; SPX slid 4.84 points; Nasdaq was down just 3.88 points. Well, in this uncharted territory, we are now finally establishing some resistance and support levels. In my Market Forecast this weekend, I said, "Technically speaking, things are toppy. We have to be careful here. On the downside, the nearest support is between SPX 1640 and 1630." Well, today the market tested the support and buyers came right back in. The resistance level now is SPX 1680.

    I think we'll start seeing some volatile days. VIX tested 15 today, and we took some of our VIX calls off the table. It is amazing how strong this market is. Lots of money is still trying to come in. Energy stocks are getting stronger. With a nice forecast from HPQ, techs should draw in more buyers. WDC and STX were strong today. MRVL reported a solid quarter after the market today and traded +6.54% higher in after-hours.

    We haven't been trading a whole lot because things are technically overbought. With a market holiday on Monday for Memorial Day, let's take things easy until next Tuesday!

    Good night and HappyTrading! ™

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    May 24 3:34 AM | Link | Comment!
  • Time For Some Consolidation! TSLA, GOOG, SODA, DDD, SSYS, MA, GS, AIG, PCLN, ESI, APOL, COCO, DV

    Stocks popped for a new leg up today, pushing SPX to close above 1650! Financials led the rally: GS +3.27%; MA +2.49%; AIG +3.23%. Recent high flyers include TSLA, which went from $55-and-change to today's high of $97.12 in just 4 trading sessions! GOOG has also been ramping up non-stop, almost hitting $890 today. 3D-printing stocks have also faired well: both DDD and SSYS made new all-time highs today!

    So, how high can this market go without a respite?! Well, I think the market is about to take one. SPX 1650 could be a psychological barrier, one of those "whole number" levels! Technically speaking, the market is toppy. I would really find it unlikely to go push higher without some consolidation. If it continues to push higher without a break, it'll have to go parabolic! This bull market, though, is unlike the tech boom back in 2000. This time, the Dow and SPX are leading the way, which means the rally is broadly based. In fact, techs, so far, have been lagging!

    One group that really took off today was the education and training services. ESI vaulted almost +18%! APOL gained more than +9%. COCO popped +8.46%. DV added +5.49%. Let's keep our eyes on this group. I think a lot of shorts will need to cover their positions in these stocks!

    We didn't chase the market today. We'll see how the market does tomorrow. If the market keeps going, I wouldn't complain if this rally turns parabolically higher!

    Good night and HappyTrading! ™

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    May 15 3:22 AM | Link | Comment!
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