Nasdaq Clears 3,800, Here Comes Twitter/ New Trade!!!

12:30pm (EST)

We will delay the political rhetoric for another update as we would rather focus on the real world instead of the make believe world our politicians seem to live in. As much badgering as the Head Zombie has done against Wall Street, it is good to see the market is up as the fat cat zombies take another vacation.

We were watching the futures market well past midnight and up until the European open before we hit the rack and they remained strong leading us to believe there could be a breakout today. The Dow and S&P 500 still have some ground to make up before they challenge new highs but today’s pop has pushed the Nasdaq past our 3,800 target we set back at the beginning of February. The Dow is the last index that has failed to met our yearend target but the blue-chips have an ace-in-the-hole that could carry them towards our 16,000 target by the end of the year.

While we were doing our research, we learned Twitter could file its IPO papers this week and start trading by Thanksgiving. The water-cooler talk is the offering price will come in between $28-$30 a share that would give them a valuation north of $15 billion. The stock could trade on the NYSE instead of the Nasdaq. Goldman Sachs (GS, $159.31, up $1.10) is be rumored to be the lead underwriter and is also a component of the Dow.

We will see how it all plays out but the government shutdown could thro a monkey wrench into the filing. The SEC is working despite the zombie shutdown as there are 3 IPO’s pricing today and maybe a fourth with Twitter later in the week.

We have a lot to cover as we have a number of trades in play showing nice gains. As we head to press, the Dow is up 65 points to 15,195 while the S&P 500 is higher by 13 points to 1,694. The Nasdaq is zooming 38 points to 3,810.

We have another triple-digit winning option trade on a stock that continues to break out so we have a decision to make if we want to close half or let it ride for another day or two. We also have a NEW TRADE we are getting into. Subscribers, hit the Members Area for the updates.

Comments are closed.

CFTC Disclosure:

GOVERNMENT REGULATIONS REQUIRE DISCLOSURE OF THE FACT THAT WHILE THESE METHODS MAY HAVE WORKED IN THE PAST, PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE PERFORMANCE. WHILE THERE IS A POTENTIAL FOR PROFITS THERE IS ALSO A RISK OF LOSS. A LOSS INCURRED IN CONNECTION WITH Momentum Options Trading, LLC CAN BE SIGNIFICANT. YOU SHOULD THEREFORE CAREFULLY CONSIDER WHETHER TRADING IS SUITABLE FOR YOU IN LIGHT OF YOUR FINANCIAL CIRCUMSTANCE. THERE IS SUBSTANTIAL RISK IN TRADING. A LOSS INCURRED IN CONNECTION WITH FUTURES TRADING CAN BE SIGNIFICANT. WE MAKE NO CLAIM REGARDING PAST OR FUTURE PERFORMANCE. WE MERELY TRACK EVERY TRADE AND SHOW THE PERFORMANCE OF ALL TRADES THE SYSTEM OR NEWSLETTER PRODUCES. SIMULATED TRADING IS DIFFERENT THAN TRADING REAL MONEY. HYPOTHETICAL RESULTS ARE NOT REAL RESULTS. PLEASE CONTACT YOUR BROKER ABOUT THE RISK OR TRADING STOCKS, OPTIONS OR FUTURES. ALL COMMUNICATIONS ARE OPINIONS NOT ADVICE.

CFTC RULE 4.41 – HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN.

Blog

Nasdaq Clears 3,800, Here Comes Twitter/ New Trade!!!

CFTC Disclosure: