Morning Rage 2.16.2012

In US equity market we finally saw an increase in ES volume. The question is will the volume be here to stay? It felt like the whole market traded around AAPL on Wed. AAPL made fresh all time highs and then suddenly sells off 5% towards the end of the trading day as rumors come out of an Iphone ban in China. With a lack of US data on Thursday, look for traders to focus on headline risk coming out of Europe. However, we will get housing start numbers, jobless claims, PPI, and the Philly Fed. Transportation average was the last 3 of last 4 trading days putting pressure on the overall indexes. Zynga reported Wed numbers that weren’t too far away from what the street expected but the stock sold off considerably in the after hour session. We will get a better idea of what Zynga is really worth when Facebooks IPO comes out. Maybe Zynga will offer a poker game one day rather then games that require no skill. JP Morgan, CLD, GM, and VF corp all report earnings on Thursday.
By: Greg Zimny

Cam at the Close 2.15.12

It closed on the lows of the day to $497.57 and printed a huge bearish engulfing candle. The reversals in the market today were due to the fact that markets worldwide are worried about an impending Greece default. This should not be a surprise to anyone. One of the hardest things to do when trading or investing is to determine what information the market has priced in and what information it hasn’t realized yet. The SPY closed down 0.47% to $134.56 and the uptrend is still very much intact. Crude Oil rocketed today and closed up 1.22% to $101.97 a barrel. This was due to a report stating that Iran cut oil shipments to six countries. Spot Gold closed at $1728.28 while its crazy cousin silver closed slightly down at $33.40. Abercrombie & Fitch (ANF) finally caught a bid today and jumped 8% as the company stated that it expects profit margins to stabilize. ANF closed at $48.30.

Written by Cameron Patrick

Halftime Report for 2.15.2012

Apple is on a tear today up 100 pts since reporting earnings. Apple Feb 485 Calls today are up an incredible 3000%. Apple is responsible for 90% of intraday Nasdaq gain. Zynga is down 12% on earnings. We saw people buying FEB 18 $12 Puts at $.30. We have seen call buyers in names like Cake, LIZ, and TER but nothing that perks interest.

By: Greg Zimny

Morning Rage 2.15.2012

In US equities this morning, Soros buys a big chunk of his gold position as an inflation hedge as Paulson sells his stake to raise capital for his clients. The funny thing is, everything Paulson has sold in q4 last year has been the big movers in Q1. For example, Paulson sold his BAC common stake (64 million shares), Citi common stock (25 million shares), and reduced his Wells Fargo position. Comcast beats analysts’ expectations and revenue estimates. Comcast’s revenue rose 3% or $15 billion. Also, its internet subscriptions have increased and Comcast raised its dividend by 44%. Comcast is trading higher in the pre-market by 3%. Zenga reported earnings that weren’t up to par with analysts’ expectations. Many analysts believe the stocks multiple will continue to decline and that it’s booking guidance was light. Many investors are waiting for FB IPO to get true valuation of FB and Zenga. Zenga is trading 6% to the downside.