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7th Heaven?

12:45(pm) EST Dow 8,131. That is the number bulls are looking for. After an up and down week, the Dow has a chance to extend its weekly rally to 7 if we manage to break that number. Currently, the Dow is up 131 points to 8,088. Impressive. Tech is onceRead more

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Update on NetApp

9:10am (EST) NetApp (NTAP, $18.36, down $0.48) has had a great week and I wanted to update the two trades we had going on. On Wednesday, around noon, I sent out a blog update on the stock when it was at $18.65 and talked about the strength the shares wereRead more

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Losing Faith in IBM

1:05pm (EST) IBM (IBM, $100.22, down $2.33) has slipped below $100 today and I’ve decided it’s time to move on. The May 110 calls (IBMEB, $0.30, down $0.30) opened at 60 cents this morning and they were profiled at $1.00 on April 16th. After an initial 20% gain, the tradeRead more

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Decision Time

11:20am (EST) As an option trader there are certain things you can and cannot control when it comes to the market. For every trade you make your decisions will determine your profits and how well your option portfolio performs. The time you spend planning a trade does no good ifRead more

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Bank Stress Test News Coming

9:15am (EST) Look for some news on Friday with some of the government’s top brass meeting to talk the upcoming “stress test”. I haven’t talked much about the event because I’m waiting for the actual news to come out but this evaluation will cover nearly 20 of the biggest U.S.Read more

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eBay Beats Earnings, Shares Up

eBay (EBAY, $14.78, up $0.49) announced its earnings dipped over 20% after the bell but their numbers still beat Wall Street’s expectations. The company earned $357 million, or $0.28 a share, versus $460 million, or $0.34, a year earlier. The Street was expecting $0.34 and if you exclude charges, eBayRead more

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NetApp Up

12:15pm (EST) NetApp (NTAP, $18.65, up $0.61) is having a sweet day as cloud computing and takeover talk continue to spur gains for the sectors. NetApp has been performing well all week and today’s 3% jump has provided some momentum for our call options. The May 17.50 calls (NULEW, $1.90,Read more

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Amazon.com Breaks $80

11:20am (EST) Amazon.com (AMZN, $81.10, up $2.36) had some good news after the bell last night which has helped push the shares past $80. The company has hooked up with TiVo (TIVO, $7.59, up $0.01) and will offer high definition movies and television shows for download to your TV setsRead more

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Yahoo Beats Street, Profits Tank

8:40am (EST) I’ve been talking about the Tech rally for over a month now which has helped the Nasdaq post a 6% gain YTD. Sure, some stocks deserve to trade at higher multiples than other Tech stocks but when you have good companies getting punished for great earnings while badRead more

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Market Recovers, Amazon.com Pushes $80

12:05pm (EST) The Dow has made a nice rebound from yesterday’s shellacking and is currently up 72 points to 7,914. There were a bevy of earnings announcements this morning, both good and not so good, but better-than-expected results from a couple of Tech companies have helped things. People are stillRead 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.