Blog

Ford Gains On GM's Pain

11:30am (EST) I have been getting a ton of emails this morning on the trades I profiled on Ford Motor (F, $6.07, up $0.32). I mentioned the December 6 calls (FLI, $1.52, up $0.28) and the December 7 calls (FLJ, $1.10, up $0.20) in the May 17th Weekly Wrap asRead more

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Bulls Come Out Swinging

9:30am (EST) Like cotton on sheep, the bulls are all over the opening bell. The Dow just opened and is currently up 110 to 8,610; the Nasdaq is up 22 to 1,796 and the S&P 500 has added 12 and is at 931. The big news of course is GeneralRead more

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Weekly Wrap for 5/31/09

1. Commentary 2. Oil Surges in May 3. General Motors Put Options 4. Earnings 5. Current Trades 6. Monday Morning Playbook 7. Closing Thoughts ************************************************** 1. Commentary Another week, another win for the bulls. Although we have been stuck in a trading range, the bulls carried the market higher onceRead more

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More on General Motors – Update at 1:30pm

1:30pm (EST) Just wanted to add something to the blog below. The GM June 1 puts (GMVR, $0.61, up $0.07) have traded nearly 100,000 contracts as open interest has swelled to over 425,000 contracts. The put options opened at 57 cents today. The action is amazing and it remains toRead more

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GM Bankruptcy Immenent/ Market Opens Higher

9:50am (EST) The Commerce Department’s reported first-quarter gross domestic product showed the economy contracted by 5.7% which was an improvement over the fourth-quarter’s decline of 6.3% As a result, futures we strong all morning as the Dow Jones futures were up 41 points before the bell, while the Nasdaq futuresRead more

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Home Depot and Lowe's Trade Lower/ Trading Service Update

9:00pm (EST) Home Depot (HD, $22.70, down $0.63) and Lowe’s (LOW, $19.02, down $0.61) lost 3% after a report showed first quarter mortgage delinquencies jumped to 12%. That means more than one in 10 people are behind on their house payments. Not only that, home owners with good credit areRead more

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Blue Coat Systems Delays Earnings/ New Trading Service for OptionsMentoring.com

7:30am (EST) Blue Coat Systems (BCSI, $16.00, down $0.54) was scheduled to report earnings after the bell on Wednesday but delayed the announcement until next week. The company said it needed the extra time to complete the books for the quarter that ended April 30th. That is not a goodRead more

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Apple Gets an Upgrade, Keeps on Rolling

10:30am (EST) Apple (AAPL, $133.28, up $2.50) gained 7% yesterday and is up another 2% this morning following an analyst upgrade. The stock opened at $124.82 yesterday and made the majority of its move in the first hour of trading but held steady all day long. The June 125 callsRead more

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Home Prices Continue Tumbling

12:30pm (EST) I had mentioned in the Weekly Wrap that home prices were falling but was a little surprised to see how hard and how fast. The Standard & Poor’s/Case-Shiller National Home Price Index reported home prices fell at the fastest annual rate on record in the first quarter, butRead more

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Market Soars After Consumer Confidence Report

10:30am (EST) The market got a huge lift this morning after consumer sentiment rose in May to the highest level since September. The number the Consumer Confidence Index reported surged to 54.9 from a revised 40.8 in April and that was a huge surprise. Wall Street had been bracing forRead more

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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.