Priceline is trading above $700 and looks to be going higher based on making higher-highs and lower-lows. GMCR is up 5 pts at the $55.66 level. Also, SBUX is following suite.

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 www.keeneonthemarket.com

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).

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

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.

Chart Glance- TRGT is a Bio-Tech, High Speculation stock. Not alot can be said regarding TRGTs chart. NO DEMAND at this time and TRGT is currently, Tom Petty, “Free Falling.”
50 DMA ($6.52), 100 DMA ($7.76), 200 DMA ($12.94).
Support 1: NA Support 2: NA

Astrazeneca and Targacepts depression drug, “TC-5214,” DID NOT PASS PHASE III. Astrazeneca invested over $1.25 Billion dollars in the depression drug “TC-5214.” Targacepts CEO, DeBethizy states, “we will announce our plans regarding the Renaissance Program at the end of May of 2012.”
TRGT has a strong balance sheet, with positive cash-flow. If TRGT trades down in the low 5’s I might look to take a stab at it and buy some OTM Calls.

By Greg Zimny

USD is way higher and Saudi Arabia says they have an abundance of Oil. The VIX rose once again and the term structure flattened. Finally, average trade size in ES was the highest in 6 months yesterday. Americans are paying 3.8 cents “more” for a gallon of gasoline in just “one” week the U.S. government said on Monday.

Bank of America denied it has any plans to issue stock in a secondary offering and shares rebound in the after hours. BAC is up over 20% in the last five trading sessions. Last week, the bank was named as one of the 15 financial institutions that passed the Federal Reserve’s annual stress test.

Computer software company ADBE, posted fiscal first-quarter earnings of 57 cents per share, down from 58 cents a share in the year-earlier period. ADBE Revenue rose 1.9% to $1.05 billion from $1.03 billion a year ago. However, revenue growth of 1.9% was down big-time from the 14% reported in the fourth quarter of 2011.

By Greg Zimny

Apple opened higher in the pre-market at $605, was halted at $599.32, then reopened at $580 (higher then Fridays close). Apple announces plans today to initiate a $2.65 Quarterly Dividend in the fourth quarter of its fiscal 2012, which will begin on July 1st, 2012. Also, Apple announces that it plans to buy back $10 Billion shares over the next three years. Apple plans to spend over $45 Billion over the next three years

Economic Events for Tuesday, March 20th:

RBA Minutes and Italy Labor Market Reforms (Hopefully they can pass legislation before the end of the month.
UK CPI (Feb): Analysts expect a rise of 3% YOY.

By: Greg Zimny

Chart Glance- Apples chart glance looks like a Roller Coaster Ride that’s next stop is the moon. Apple is making “higher/ highs” and “lower/ lows.” Technicals indicate that Apple is in the middle leg of up-trending to higher prices and taking out recent 52 week highs ($600.01). Smart Money says buy and check back in a year or so!

50 DMA ($490.48), 100 DMA ($441.12), 200 DMA ($406.93).

Support 1: $561.66 Support 2: $520.10

Apple announces plans today to initiate a $2.65 Quarterly Dividend in the fourth quarter of its fiscal 2012, which will begin on July 1st, 2012. Also, Apple announces that it plans to buy back $10 Billion shares over the next three years. Apple plans to spend over $45 Billion over the next three years. Apple CEO Tim Cook states, ““We have used some of our cash to make some great investments in our business through increased R&D, acquisitions, new retail store openings, strategic prepayments and capital expenditures, and building out our infrastructure. You’ll see more of all of these in the future,” In my opinion, I do not understand why Apple is buying back shares now. Apple stock is up over 45% in the last 4 months.

By Greg Zimny

Monday morning, Apple will announce plans regarding their $100 billion plus in cash, balance sheet. The street is expecting a “dividend.” Is a dividend already priced in? AAPL will not be discussing current quarter numbers or any other topics regarding Apples product cycle, etc. Apple in the pre–market hit a NEW RECORD HIGH, $606. Apple authorizes a 3 year 10. Also,Apple sets quarterly dividend of $2.65 per share/will be initiated in Q4, 2012. Finally, Apple shares are halted at $599.32.