Trade of the Day (HD) 3.21.2012

Break-even: I break-even on this trade if HD closes at $50.78 by April 20, 2012.

Unprofitable: This trade is unprofitable if HD closes under $50.78 by April 20, 2012.  The most I can I can lose is the $.78 that I paid for the Calls.

Reason I Like This Trade: When HD was trading $49.62, I saw a customer buy 3549 April 50 Calls for $.79, so I knew that I want to jump on the LONG HD bandwagon even though the stock traded its 52 week high today.  In Our “LIVE” Trading room talked about this trade in real-time, but have to be in the room to hear to LIVE.   

UPDATE 3.22.2012 This was a day trade for me and when I saw the stock trade higher, I sold out of my Calls for $.88.  Taking profits and moving to the next trade.  

Read more about closes by

Movers and Shakers (ORCL) Up $0.31 (1.03%) to $30.41

Chart Glance- After ORCL formed a double bottom on Dec 27th 2011 (around $25.50 level), ORCL has been off to the races. ORCL looks to be forming a broader, reverse head and shoulder-type pattern. Seems like ORCL has found a new support area at the $30 level. $32.50, and sellers start showing up to the party.

50 DMA ($28.94), 100 DMA ($29.44), 200 DMA ($7.58).

Support 1: $29.44 Support 2: $28.54

ORCL opens 2% higher after beating analysts’ estimates. ORCL reported earnings today that topped analysts expectations and software sales were strong. Revenue rose 3% to $9.1Billion, beating analysts’ expectations of $9Billion. Next, ORCL reported earnings of $0.62 per share, $0.06 better than the consensus. ORCL reported new software license revenue growth of positive (+) 8%. FBR and UBS raise price targets to $36 from $34. Finally, Elison bashes CRM’s cloud apps. Elison states, “CRM cloud apps does not have the same security features as the Fusion(ORCL’s cloud app).

Morning Rage 3.21.2012

Metals, (Silver and Gold) are finally trading in the green this morning after a few days of heavy selling pressure. Gold is trading at the all important support 1652 level and Silver caught a bid at the 31.75 level as investors want to own Gold rather than the Euro. Crude Oil is showing no sign of weakness and is staying above the 106 level for the time being. Their is a lot of risk premium built in Crude as speculators think a Middle-East war is inevitable.

Economic Events:
UK BoE Minutes and 2012 Budget Data
Bernanke will be lecturing on Monetary Policy at George Washington Univ.
Existing Home Sales

Cam at the Close 3.20.12

Tomorrow bring us more housing data with Existing Home Sales at 9:00 AM CST and an important Oil Inventory Number at 9:30 AM CST. The important levels in the S & P 500 Futures for tomorrow will be 1391.75 and 1393 to the downside and 1408.25 and 1411 to the upside. I am bullish and always look to get LONG on dips. Have a great night guys.

Halftime Report for 3.20.2012

ES is currently trading in a tight 14 point range. Crude Oil is down $1.76 or 1.7% at 106.25. Perhaps the “SPR (strategic Petroleum Reserve)” is priced in WTI. Also, Saudi Arabia will help with any shortages of Crude/Brent Oil. Also, Saudi Arabia reported that the ideal price for a barrel of oil should be around $100. BHP Billiton, the world’s largest miner, expressed concerns regarding the possibility of a slowdown in the demand of metals in China.

Todays Economic Events:
Bernanke speaks at 11:45CST

Wednesday’s Economic Events:
UK Bank Of England Minutes and 2012 Budget.