12:20pm (EST)

After 6-staright weeks of losses, the bulls are trying to end that streak which depends on today’s rally holding.  Futures were pointing towards a so-so open but

The Dow started the week at 11,951 and is currently up 83 points to 12,044.  If the bulls can hold 12,000 and win the week then next week is a toss-up in what has been a down week, historically, over the past two decades.  More on this in a minute…

The S&P 500 is higher by 9 points to 1,276 after starting the week at 1,270.  The bears will try to keep the index below 1,275 as the bulls look to make a push back to 1,300.

The Nasdaq is showing a 8 point pop and is at 2,631.  Tech started the week at 2,643 and has reached a high of 2,648 but if 2,650 is not broken, and held, then it favors the bears next week.

In IPO news, Bankrate (RATE, $14.50, down $0.50) made its debut this morning by ringing the opening bell and offering shares to the public.  The company priced its offering at $15 last night which was the mid-point of the expected range but shares are down 3% on their first day of trading. 

Ringing the bell hasn’t been too kind to companies trying to make a big splash this week.  Pandora Media (P, $12.87, down $0.39) is still sinking after hitting a high of $26 on Wednesday in its debut.  LinkedIn (LNKD, $67.06, down $1.21) is down 45% on its 1-month anniversary after hitting a high of $122.70 on its first trading day.  

With all options for the month of June expiring today, we wanted to go over next week’s landscape real quick.

The week after June Quadruple Witching has produced an average loss of over 1%, on average, for the Dow over the past 11 years and 18 of the last 20 years.  In other words, there is a 90% chance the market corrects further next week but nothing is a given.

As you can see, Tech is still struggling and the Financial stocks face further downside risk.  However, the bulls have been known to climb a wall of worry and we are still in a “trading range” which means anything can happen. 

The market is up today on hopes Greece gets a bailout and Monday will be a big day as we should get more news on the embattled country. 

On the good news department, Research In Motion (RIMM, $27.42, down $7.91) continues to get spanked behind the woodshed as shares are now down over 20%.  The plunge has meant a windfall for our current put option recommendation.  Our subscribers are working on a 300% return

That is all we have for today and we hate to see the week end as we are now holding 4 triple-digit winners in our portfolio.  We have been making some sweet calls lately and we have been saying NOW is a great time to be putting some money to work.  For those who want to take your trading to the next level, come join us.

Also, our Weekly Wrap which will be closing out another profitable trade today.  Folks, this publication is quickly becoming a hit and it is hands down a bargain.  If you haven’t given it a try, you should, as it is packed with trading ideas.  We profile two stocks a week that could be on the verge of big moves as we do an in-depth technical and fundamental analysis of the companies we profile.

For those of you looking for a deal, if you purchase a 1-year subscription to our Weekly Wrap, we will ship you a copy of our options trading manual, How to Trade Options on Momentum Stocks, at no charge (an $895 value).  The course also comes with monthly (bi-monthly videos) which show you how to find you own triple-digit winning option trades.

And one last fun factoid before we go, Krispy Kreme Doughnuts (KKD, $9.39, up $0.60) is at fresh 52-weeks highs.  Imagine that.  We did.

We will be back Sunday night and until then, relax, get some sun, and have a great weekend!  We hope you take advantage of our offer.