The market settled in a sea of red on Thursday following disappointing economic news and the continued fallout over negotiations on another coronavirus stimulus package. The losses held near-term and key support levels with the bulls needing a bounce back on Friday to avoid their 3rd-straight weekly loss. The DowRead more
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MomentumOptions.com Pre-Market Update for 12/2/2020 Bulls Push Another Round of Record Highs/ Profit Alert (UTZ) 8:00am (EST) The stock market rebounded on Tuesday with the gains pushing the Nasdaq to its fourth-straight record high and the S&P 500 to a new all-time peak. Renewed talks of a stimulus package andRead more
MomentumOptions.com Pre-Market Update for 12/1/2020 Market Slips on Profit Taking/ Profit Alert (FCX) 8:00am (EST) The stock market fell on Monday after Tech set another record high as investor took profits to close out the month. Mixed economic reports outweighed more good news concerning coronavirus vaccines as Moderna (MRNA) announcedRead more
MomentumOptions.com Pre-Market Update for 11/30/2020 Nasdaq Taps Second-Straight Record High/ New Trade (GO) 8:00am (EST) The market closed higher on Friday shortened session with Tech setting another lifetime high. Economic news was light and earnings announcements weren’t a factor but heat back up in the coming week. Healthcare and CommunicationRead more
MomentumOptions.com Pre-Market Update for 11/27/2020 Nasdaq Sets Fresh Record High/ Profit Alert (XLF) 8:00am (EST) The market closed mostly lower on Friday following a ton of economic news that was highlighted by initial jobless claims rising 30,000 to 778,000, missing forecasts. Third quarter GDP growth was left unrevised at 33.1%Read more
MomentumOptions.com Pre-Market Update for 11/25/2020 Bulls Tap Fresh All-Time Highs/ Profit Alert (FCX) 8:00am (EST) The market showed continued momentum on Tuesday with the small-caps and blue-chips setting fresh all-time highs. The gains were fueled by news the Trump administration has approved the start of a formal transition to PresidentRead more
MomentumOptions.com Pre-Market Update for 11/24/2020 Small-Caps Tap Another All-Time High 8:00am (EST) The stock market rebounded on Monday following the 3rd-straight week of a positive announcement concerning coronavirus. AstraZeneca (AZN) said that its vaccine is up to 90% effective but slightly below the 95% effective rates from the previous companiesRead more
MomentumOptions.com Pre-Market Update for 11/23/2020 Market Mixed for the Week 8:00am (EST) The stock market traded in another tight range on Friday as ongoing coronavirus concerns and renewed state restrictions weighed on sentiment. Selling pressure picked up in the final hour of trading with the lower closes for the majorRead more
MomentumOptions.com Pre-Market Update for 11/20/2020 Bulls Rebound Despite Rising Jobless Claims 8:00am (EST) The stock market traded in the red throughout the first half of Thursday’s action following news Initial Jobless Claims gained 31,000 to 742,000 last week. The concern over coronavirus cases continued as New York closed the nationsRead more
MomentumOptions.com New Trade (UTZ) for 11/19/2020 3:20pm (EST) I have a New Trade for today so let’s get on it. New Trade! Utz Brands (UTZ, $19.17, up $0.35) Buy to Open UTZ January 20 calls (UTZ210115C00020000, $0.75, up $0.10) Action: I like these call options at current levels and youRead more
MomentumOptions.com Pre-Market Update for 11/19/2020 Choppy Action Continues 8:00am (EST) The overall market was choppy on Wednesday after trading on both sides of the ledger while closing in the red for the second-straight session. Better-than-expected housing numbers and ongoing vaccine hopes provided strength on the open that fizzled midday. TheRead more
