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Morning Call Express: Sluggish With a Constructive Feel
In today’s Morning Call Express, Scott Redler updates the key levels of support and resistance on the SPX. He also talks about some earnings names that have reported as well as other names that are looking constructive.
Continue Reading -->Scott Redler’s Chart Attack: SPX, GOOGL, BABA
This morning the SPX futures are pretty much flat as things feel stuck below 2144-2149 but above 2114-2124. We’ll patiently wait to see which way this resolves as company earnings are released. Individual names will be better to focus on as there is more movement in them, for now. Google (GOOGL) finally gave a cleaner move above $816-820 and hit as high as $828.81. If you sold some strength buying into this $820 zone, it would be good if it holds for additional gains thru earnings. My 2016 target is north of $850. BABA was another great focus from my 2016 report. It has been the most active for us since we listed it back at $81-$85 and then $93.50 and again at $95. At this point, it is near weekly highs and it looks like all time highs can happen this year. Right now, it’s digesting above $99 and I may look into a different option strategy for next quarters earnings.
Continue Reading -->Morning Call Express: A Leveled Approach
In today’s Morning Call Express, Scott Redler talks about some of the talking points that has the SPX futures down this morning. He also offers one of the rules he follows to determine what trading style to implement. Scott also looks at the QQQ and Biotech Index and provides additional insight into the current state of the markets.
Continue Reading -->Morning Call Express: AAPL Picking
In today’s Morning Call Express, Scott Redler talks about how to navigate the current range and what levels to be looking at to trade around or, if nothing else, be aware of them. He also talks about AAPL, his recent trade in it, and where to look for it move heading forward. Scott also looks at some individual names.
Continue Reading -->Morning Call Express: Elections & Markets For Debate
In today’s Morning Call Express, Scott Redler covers the current range in the market, ahead of earnings season, and the levels to be looking at for clues. He also looks at a couple sectors, banks, high beta tech, and a few new issues.
Continue Reading -->The Morning Hammer: Post-Debate Happiness
The Mexican peso is up 1.7% this morning, which means Mr. Market thinks Hillary Clinton won last night’s steel cage match US Presidental debate. Meanwhile, the pound sterling is still falling in the wake of Friday’s flash crash. Crude oil is rising after Saudi Arabia’s energy minister said crude could hit $60 by year-end. OPEC recently announced a production cut, though market participants would certainly like more detail. European equities are up for the first time in 4 days on strength in automakers, throuhg banks are still looking weak. Deutsche Bank (DB) failed to announce a deal with the Department of Justice as some traders expected. China resumed trading after a week-long holiday, and the yuan dropped to a fresh 6-year low. Goldman Sachs says that US and European markets could stumble a bit into year-end due to political risks, a weak economy in Europe, and high stock prices in the US. The US dollar is still in bull market mode despite Friday’s slightly soft jobs report. Traders are pricing in a 64% probability of a December rate hike, though keep in mind, the pace thereafter what matters. According to some very smart folks I’ve spoken with, there’s an excellent chance the Fed is one and done. However, gold is catching a bid today, so I’d watch for a pop in the beaten down gold miners (GDX). Apple (AAPL) is up fractionally this morning on news reports that Samsung temporarily stopped production of its Galaxy Note 7 smartphone. The device was already recalled, but even replacement models are catching fire, which is a PR disaster. SPX futures are up about 11 handles this morning, so we’re starting the week off on a positive note. Biotech is catching a bid this morning — it’s been lagging to see if the weak trend breaks.
Continue Reading -->Morning Call Express: Jobs Report Ahead
In today’s Morning Call Express, Scott Redler reviews the action in the market ahead of the jobs report tomorrow. Scot talso looks at high beta tech names along with a couple sectors and one or two new issues.
Continue Reading -->Morning Call Express: Taxing Times
In today’s Morning Call Express, Scott Redler talks about yesterday’s action and, once again, reviews the SPX and some of the scenarios that he is looking for as we start the final quarter of the year. He also talks about some of the action in individual names like TSLA, NFLX, AAPL, and some new issue names.
Continue Reading -->T3’s Take 3: Bad News Banks Beat Merger Mania!
Want to Learn to Trade With Our Experts? Check Out These 2 FREE Events: Start Prop Trading the Right Way How to Generate Big Income With Options 1) M&A Fever Today was a good day for Wall Street dealmakers as 2 sizeable deals were announced, with another Twitter (TWTR) takeover rumor serving as the icing on top. Privately-held outdoors retailer Bass Prop Shops is buying Cabela’s (CAB) for $5.5 billion. The combined company will have nearly 200 stores in the United States. Legendary bond investor Bill Gross also has a new employer, as his company Janus Capital (JNS) will be acquired by UK-based asset manager Henderson Group Plc. Meanwhile, Bloomberg reported that Google (GOOGL) may be kicking the tires on Twitter (TWTR) regarding a possible link-up. In recent weeks, Twitter shares have skyrocketed on reports that it could be acquired by companies including Salesforce.com (CRM), Microsoft (MSFT), and even Disney (DIS). Twitter shares rose 4.0% to $23.97 today. 2) US Stocks Pull Back The S&P 500 pulled back -0.3% as the banking industry came under fire again. European banks fell today after Deutsche Bank (DB) failed to announced a smaller settlement with the Department of Justice, which handed the bank a $14 billion tab over its mortgage backed securities practices. Well Fargo (WFC) continued its downtrend on a pile of negative news, including a loss of business with the state of Illinois. Democratic Presidential candidate Hillary Clinton also attacked the bank in a speech in Toledo, Ohio. Massachusetts Secretary of the Commonwealth William Galvin accused a Morgan Stanley (MS) unit of “dishonest and unethical conduct” in in state dealings. The S&P Financial ETF (XLF) fell -0.5% today. Gold miners, utilities, and real estate stocks all fell on stronger-than-expected US economic data, which pushed up the dollar and interest rates. The Nasdaq slightly outperformed today as select names like Netflix (NFLX) and Tesla (TSLA) staged strong rallies. 3) Rule of 4 Sell Signal? This afternoon, my good friend Jeff Cooper once again keyed on the widely-watched 2148 level in the SPX. Here’s what he had to say: The Daily Swing Chart has turned right back down as the SPX trades below Friday’s low this morning. There is a 3 point rising trend line on the hourlies that now ties to around the key 2148 level. So if this is breached, it will trigger an hourly Rule of 4 sell from September’s pennant to kick off October, a potentially poor harbinger for the what is often a wicked month. Tuesday’s Trading Calendar US Economics (Time Zone: EDT) 08:05 Fed’s Lacker Speaks at West Virginia Economic Outlook Meeting 09:45 ISM New York (Sep): prior 47.5 19:50 Fed’s Evans Speaks on Economy and Policy in Auckland, NZ Global Economics 03:00 EUR Spanish Unemployment Change 04:30 GBP Construction PMI 20:30 AUD Retail Sales m/m Earnings Before Open: Darden Restaurants Inc (DRI) After Close: None of significance
Continue Reading -->Morning Call Express: A Closer Look, Dow Jones Industrial
In today’s Morning Call Express, Jeff Cooper talks about the potential head and shoulders top on the Dow Jones Industrial and the action seen yesterday. If support is broken, a test of the 200 day moving average is on the table. He also talks about the Gann connects which are in play.
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