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Celgene Update

1:30pm (right coast time) Celgene (CELG, $37.94, down $6.46) dipped below $37 which pushed the April 40 calls (LGHDH, $1.05, down $4.35) to a low of 75 cents. They were at $1.20 when I mentioned them this morning and I said they could go as low as 80 cents. IfRead more

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Celgene Gets Whacked

Celgene (CELG, $38.30, down $6.10) is down 14% this morning after offering a disappointing outlook on earnings to Wall Street. The company said first-quarter and 2009 earnings and revenue would miss expectations due to weaker sales of its drug Thalomid. This is no April Fool’s joke, bubba. For those ofRead more

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Tuesday's Tidbits – Amazon.com

Bears Rocking Wall Street

Futures Pointing Towards Lower Open

The Dow futures are down 174 points which means we are headed towards a sharply lower open. News that General Motors (GM, $3.62, up $0.21) may be headed for bankruptcy is weighing heavily on the market. The stock has a bid of $2.87 which is looking like a 30% haircutRead more

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Weekly Market Wrap for 3/29/09

1. Commentary 2. Research In Motion Earnings Preview 3. Further Gains For First Solar? 4. Earnings 5. Current Trades 6. Monday Morning Playbook 7. Closing Thoughts ************************************************** 1. Commentary Despite Friday’s 148 point drubbing, the Dow had a fantastic week as it gained nearly 500 points to finish at 7,776,Read more

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Why I Love Trading Options

Best Buy Beats Earnings

Best Buy (BBY, $38.76, up $5.30) bashed the cover off the ball and reported earnings that were higher than what Wall Street had been expecting. The stock is up over 15% this morning and has traded as high as $38.91 and to a low of $36.79. Best Buy’s profit fellRead more

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Steel Stocks Heating Up, Futures Up

Steel stocks have been performing well lately although I’m not excited about the sector. I liked the action in Wednesday’s trading and there are a couple of names I follow on my Watch List for steel. The two major ones are United States Steel (X, $23.47, up $0.15) and RelianceRead more

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Family Dollar Stores Hits Entry Price

It took most of the day but Family Dollar Stores (FDO, $32.10, up $0.82) traded down low enough for us to our get our entry price for the April 32.50 calls (FDODZ, $1.45, up $0.25). These calls opened at $1.35 and traded to a high of $1.60 earlier this morning.Read 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.