Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

Proprietary Trading Morning Market Update July 8 2013

U.S. Stocks Advance Before Alcoa Starts Earnings Season. U.S. stocks rose, giving the Standard & Poor's 500 Index a third straight day of gains, as investors waited for Alcoa Inc. (NYSE:AA) to kick off earnings season.

Analysts Boosting S&P 500 Target 11% Reduce Earnings Growth. The same equity analysts who lowered second-quarter profit growth predictions to almost nothing in 2013 are raising price forecasts, convinced the economy is growing fast enough to lure more investors and boost valuations.

Pre-Market Activity:

$SPY +0.66%

$VXX -3.15%

$TLT +0.53%

$UUP -0.1%

$USO -0.57%

$UNG +1.46%

$GLD +1.13%

$SLV +1.87%

Early Movers:

$LINE (Upgraded to Buy at $BAC; $30 PT) +4.10%

$PCLN (Overweight at$MS; $1010 PT) +1.81%

Proprietary Trading Economic Calendar:

Date

Time (NYSE:ET)

Statistic

For

Actual

Briefing Forecast

Market Expects

Prior

Revised From

8-Jul

3:00 PM

Consumer Credit

May

-

$10.5B

$13.2B

$11.1B

-

Proprietary Trading Earnings Announcements:

Company

Symbol

EPS

Time

Add to My

Conference

Estimate*

Calendar

Call

A. Schulman Inc

SHLM

0.65

After Market Close

Add

 

Advanced Photonix Inc

API

-0.03

After Market Close

Add

 

BCB Holdings Ltd

BCB.L

N/A

Time Not Supplied

Add

 

Begbies Traynor Group PLC

BEG.L

N/A

Time Not Supplied

Add

 

Calypte Biomedical Corp

CBMC

N/A

Time Not Supplied

Add

 

Cambridge Heart Inc

CAMH

N/A

Time Not Supplied

Add

 

CGN Mining Co Ltd

1164.HK

N/A

Time Not Supplied

Add

 

China Sunergy Co Ltd

CSUN

-1.01

Before Market Open

Add

Listen

elexxion AG

E8X.F

N/A

Time Not Supplied

Add

 

Encres Dubuit SA

DBT.PA

N/A

Time Not Supplied

Add

 

Euro Asia Premier Real Estate Co Ltd

JT9.DE

N/A

Time Not Supplied

Add

 

Formosa Plastics Corp

1301.TW

N/A

Time Not Supplied

Add

 

Gabetti Property Solutions SpA

GAB.MI

N/A

Time Not Supplied

Add

 

Investors Real Estate Trust

IRET

0.17

After Market Close

Add

 

Lacroix SA

LACR.PA

N/A

Time Not Supplied

Add

 

Mercury Systems Inc

MRCY

-0.08

Time Not Supplied

Add

 

MSC Industrial Direct Co Inc

MSM

0.98

Time Not Supplied

Add

 

Mwana Africa PLC

MWA.L

N/A

Time Not Supplied

Add

 

Omega Diagnostics Group PLC

ODX.L

N/A

Time Not Supplied

Add

 

Redstone PLC

RED.L

N/A

Time Not Supplied

Add

 

SciClone Pharmaceuticals Inc

SCLN

0.11

Time Not Supplied

Add

 

Torex Gold Resources Inc

TXG.TO

N/A

Time Not Supplied

Add

 

Volt Information Sciences Inc

VISI

N/A

Time Not Supplied

Add

 

Xyratex Ltd

XRTX

-0.05

After Market Close

Add

Listen

Unusual Options Report:

ASML- 1,500 Aug. $80 puts were bought for $3.10-$3.20 each, against open interest of 10 contracts. ASML Holding shares are up 3% today, breaking out above the $82 level.

EWT- Over 5,300 Aug. $13 puts were purchased for $0.26 each, against open interest of 6 contracts. Shares of the Taiwan iShares ETF are near the lows of the day, but are still higher by 0.80%.

JBLU- Nearly 1,700 Aug. $7 calls were purchased for $0.08-$0.15 each, against open interest of 1,024 contracts. JetBlue Airways shares are in an intermediate downtrend, down over a $1 from the 2013 highs.

YGE- More than 3,600 Aug. $4 calls were bought for $0.25-$0.30 each, against open interest of 599 contracts. Shares of Yingli Green Energy are making aother run at the highs of year up over 12% today.

AAPL- Apple is on pace for it's drop in five sessions, down nearly 1%. The call to put ratio in the July 12 weekly options is 1.74, led by activity in the $420, $425, and $430 calls.

For Proprietary Trading Firm reviews, news, rumors & opinions, visit Proprietary Trading.