S&P Emini Pivot Points for 9.18.2012
Author: Andrew Keene
Apple (AAPL) and Google (GOOG) Pivot Points for 9.18.2012
Trade of the Day (RIG) 9.17.2012
Trade: Selling the $RIG oct 46-45 Put Spread for $.50
Risk: $50 per 1 lot
Reward: $50 per 1 lot
Notes: Paper sold 3500 RIG Oct 46 Puts for $1.70
UPDATE 9.21.2012 With a Nice Rally higher after Paper sold the Oct 46 Puts, these Put Spread are now worth $.28, almost good for a double.
FedEx Earnings 9.17.2012
Despite having lowered its forecast, however, the majority of analysts are still confident in the company, with 16 of 22 maintaining a buy rating on the stock. The company has a market capitalization of $28.48 billion, and is currently trading around $90.02 per share. So far this year, the stock is up 7.72 percent.
Ultimately, expect a tough reaction to disappointing earnings tomorrow. Going forward, the company needs to figure out how to reduce costs and improve efficiencies under the current uncertain global economic environment. The company remains fundamentally strong, but it has issues it needs to address, and expect that to reflected in the stock price the remainder of this week.
Brandon Kieltyka is currently an undergraduate studying Finance at Daytona State College.
Twitter: @kieltyka05
Halftime Report 9.17.2012
Apple is trading up today gaining 5.84 (+0.83%). Pre-sales of the Apple iPhone 5 have shattered the tech giant’s previous records with 2 million of the phone being sold in the first 24 hours they were available. The record was held by the iPhone 4s which saw 1 million pre-orders on its first day of availability. Long line are already forming outside at New York City’s 5th Avenue Apple Store in anticipation of the product release.
Things to look for this week:
Tuesday- Housing Market Index, FedEx earnings
Wednesday- Existing Home Sales, AutoZone, General Mills, Adobe Systems, Bed Bath & Beyond
Thursday- Jobless Claims, Earnings from CarMax, ConAgra, Rite Aid and Oracle.
Friday- iPhone 5 Ships.
James Ramelli B.S. in Finance from UIUC. Email: james@keeneonthemarket.com Follow: @Jim_KOTM
Morning Rage 9.17.2012
I expect the performance of US indices this week to have a more honest QE3 reaction after exploding upward last week. Indices futures for the Dow, S&P, and Nasdaq are all down 21.00, 3.25 and 4.25 points respectively. Metals futures are all down slightly before the market opens with Platinum and Palladium losing the most, 16.10 and 11.70 respectively. Crude futures are down 0.20%.
One of my favorite ETFs to follow in the aftermath of QE3 announcements is SPDR Gold Trust (GLD | $171.8). GLD is down $0.35 in after hours trading after taking a $0.49 gain on Friday. The Oct ATM straddle is priced around $7.00 about a 4% expected move. After the QE3 announcement, a higher probability of currency manipulations around the world will have investors continue to invest in gold.
Apple stock (AAPL | $691.28) is up 2.68 points in pre-market trading to $693.99. Apple set a presale order record with the new iPhone 5. I expect the stock will jump over $700 before the end of the month but, due to the volatility over the past week or so, it may jump back and forth over the $700 line.
Google stock (GOOG | 709.68) was up three and a half points on Friday, only slightly short of its all time high. The stock has hit a resistance point below $715.00.
Alex Kalish has a master’s in economics from Suffolk U.
Questions, comments and suggestions welcome: alexk@keeneonthemarket.com
Market Recap 9.14.2012
In a statement released yesterday the FOMC outlined their plan to purchase $40 billion worth of mortgage bonds every month. The Committee also announced its intention to continue purchasing long-term debt in an effort to put downward pressure on long-term interest rates. The program means that the Fed will add around $85 billion to its $2.8 trillion balance sheet every month until economic conditions improve. The program has a more or less open-ended time frame. The Fed will evaluate the strength of the economy and will continue to ease until economic conditions, mainly unemployment, improve.
Apple (AAPL) hit a new all time high today of 696.98. iPhone 5 pre-orders opened today selling out in less than a minute. The tech giant now has a market cap of over $648 billion. The iPhone 5 is scheduled to be shipped next Friday.
Consumer prices index saw its biggest gain in 3 years. Retail sales were higher for the second month in a row.
Earnings next week:
Tuesday- FedEx
Wednesday- Auto-Zone, General Mills, Adobe Systems, Bed Bath and Beyond
Thursday- CarMax, ConAgra, Rite Aid, Oracle
Apple (AAPL) and Google (GOOG) Pivot Points for 9.17.2012
S&P Emini Pivot Points for 9.17.2012
Halftime Report 9.13.2012
Oil and Gold are both up 6.00 and 0.68, to 1,778 and 98.99 respectively. Platinum futures are up 31.80 and are quickly catching gold. The EUR/USD exchange rate gained 1.13% up a penny and a half to 1.3136 euros per dollar. Strangely, the US dollar is gaining value against the Japanese Yen, up about $0.77.
Analogic Corporation (ALOG + 13.67%) is a technology company that designs and manufactures advanced medical imaging and security systems. ALOG hit a new high today of 78.73, up about 9.50 points. Shares exploded today after its quarterly results and guidance topped expectations. Analysts expected a EPS of $0.71, a surprised of $0.25 per share as earnings were $0.96.
Bank of America (BAC | + 1.60%) had a second day of huge volume. The stock has been downgraded by at least 5 analysts, yet it continues to creep higher. 226.6 million shares were traded today already.
Google Inc. (GOOG| +$6.16) jumped up almost 6 points in the first half to 712.20. Google has been extremely volatile this week. On Wednesday it was down around 685.00 and gained almost 18.00 points yesterday.
Apple Inc. (AAPL | 1.99%) is up an astounding 13.61 points. Sitting at 696.56, AAPL has hit a new high, again. The iPhone 5 pre-orders were sold out within an hour this morning which may have drove all of the bears away from the stock, after some questioned the value of upgrading.
US economic news released today includes the CPI, retail sales, and industrial production. All reports are released on a monthly basis. Production is down 1.2% overall, with manufacturing losing 0.7%. Retail sales grew 0.9% beating last months 0.8% growth. Finally, CPI grew by 0.6%. Food and Energy prices accounted for 0.5% of this months change, however, year-over-year change in CPI were all energy and food at 1.7%.
Alex Kalish has a master’s degree in economics from Suffolk University.
Questions, comments, and suggestions are welcome: alexk@keeneonthemarket.com.