In Europe Germany’s stronger than expected economic data helped hoist the FTSE Eurofirst 300 up .3% to 1,006.98. So far 59% of European large caps have met or exceeded first quarter earnings forecasts.

In the US the Goldman Store Sales report was released this morning showing a -0.8% weekly change putting the year over year change at 4.5%
Commodities futures remain bleak with crude, natural gas, gold and silver all starting in the red.
The Empire state manufacturing survey was released today for May up to 17.09 from a weak level in April indicating continued moderate growth.
The monthly consumer price index for April was released at 0.00% from 0.3% in March and the CPI less food and energy is 0.2% for April. The CPI monthly rate changes represent the rate of inflation.
April retail sales were also released today at 0.1% much weaker than the 0.7% in March.

Contributer Chris Rygh is currently pursuing his MBA in Wisconsin and has a passion for the Market. Comments can be directed to ryghcw19@uww.edu

Commodities ended down with oil finishing at 94.76 and Natural gas ending its 8 day streak falling 3.2% to 2.41.
Safe currencies, such as the dollar and Yen, rose today with the Euro hitting a four month low.

Yahoo Stock rose today as it will replace its third CEO in three years, pushing up their stock 2.9% to 15.63.
Groupon continued its high today finishing up over 15% at 11.40 as did Tii network technologies up over 42% after the buyout.
I had to end on a high note since not much else did.

Contributer Chris Rygh is currently pursuing his MBA in Wisconsin and has a passion for the Market. Comments can be directed to ryghcw19@uww.edu

The dollar is enjoying the day closing in on its four month high from March of 80.73 currently at 80.69.

Electronic stores are looking strong today with the industry up about 2% being led by GME up 3.54% Radioshack up 2.34% and Best Buy up 1.66%.

The Telecom industry is beginning to erase its gains from last week currently down 1.2%. This is sparked by slacking from AT&T and Verizon both currently trading in the Red.

Groupon is one of the big gainers today up almost 10% at 10.82, while Tii Network Technologies soared today after news of the buyout by Kelta Inc for 33.1m. They are up 42.75% to 2.07.

On the downside is Ancestry.com(ACOM), hit after NBC cancelled its show “Who do you think you are?” which was a big part of the websites promotions.

Contributer Chris Rygh is currently pursuing his MBA in Wisconsin and has a passion for the Market. Comments can be directed to ryghcw19@uww.edu

Break-even:  I break-even on this trade if GRPN closes at $12.30 on May 18, 2012.

Unprofitable:  I lose money on this trade if GPRN closes above 12.30 May 18, 2012.  The most I can lose on this trade is the amount I paid can be worth $1 minus the price I sold it for, $.30 for a total of $.70.  

Reason I Like This Trade:  GRPN has rallied today, but I want to take advantage of this by Selling a Call Spread into Earnings.  If it breaks $12, it could rip way higher, so that is why I want to sell the $12 level, because I do not think stock will rally though there.  

UPDATE 5.15.2012  With Groupon rallying hard this Spread is worth $.65.  I am glad that I sold Call Spreads and only lost $.35, because if I sold stock I would have lost more money.  On to the next trade. 

UPDATE 5.16.2012  When GRPN was trading $12.20 this morning, I took this trade off for $.35 for a scratch, moving to the next trade.  

This easing, which may be too little too late, combined with the possible exit of Greece from the Euro sent markets tumbling in Europe. The FTSEU3, the index of top European shares, hit a 4 month low currently down 2.1%. The Euro is down to 1.2861, its lowest since January 23rd and down 2.7% so far in May. The USD is up around .3%. Commodities futures are also not handling this well with oil currently trading down 1.78%, it hit its lowest so far this year. Natural gas, gold and silver are also taking the hit this morning all currently lower. Time will tell if the US Markets can battle through the grim spectrum coming in from the rest of the world.

Contributer Chris Rygh is currently pursuing his MBA in Wisconsin and has a passion for the Market. Comments can be directed to ryghcw19@uww.edu