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Citigroup Gets Boost, Futures Up

Futures are up sharply this morning after news surfaced late last night that the government will increase its stake in Citigroup (C, $2.10, up $0.15) to as much as 40%. That quote is in pre-market trading which means the stock is up 8% before the opening bell rings. Futures wereRead more

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Weekly Wrap for 2/22/09

1. Commentary 2. Gold and Platinum 3. Trading Bank of America 4. 2008/ 2009 Portfolios 5. Current Trades 6. Earnings 7. Closing Thoughts ************************************************** 1. Commentary If 666 is the number of the beast, it must be that of a bear because it roared its ugly head at the market.Read more

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Gold Hits $1,000

Gold has topped $1,000 an ounce this morning, rising $23.80, or 2.4%, to $1,000.30. The last time gold topped $1,000 was last March when the price reached a record $1,033.90 an ounce. Gold is up nearly 50% from its low of $681 in October and that $1,033 record appears likelyRead more

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Dow Falls Below 7500

Research in Motion (RIMM, $41.87, down $0.23) is trading lower again this morning and has hit a low of $40.97. I had mentioned yesterday that the stock looks headed below $40 but sometimes its nerve racking when you have a short position in a well-known and popular stock that isRead more

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Blog 500!

Well folks, its been nearly a year since we started the blog and today’s entry is my 500th. I guess that means one or two things. I talk too much or there has been a lot going on with the market. I guess you could say both but what isRead more

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Research in Motion Continues Sell-Off

Research in Motion (RIMM, $43.22, down $1.42) is down another 3% today and its chart looks like a train wreck waiting to happen. The stock fell hard last week, tumbling from $57 to $49 after lowering guidance and has been in a downtrend since. You could have made a sweetRead more

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Market Struggling to Stay Positive

The Dow started the morning off in positive territory and has been up and down ever since after waiting to hear details on how Obama’s $75 billion mortgage relief plan is going to work. The plan is designed to help stabilize the housing market and reduce foreclosures and comes onRead more

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Night Owls Calling

Just checking in on the futures…I must be sleepwalking. At 1AM right coast time, the Dow futures are up 54, the S&P 500 is up 6.30 while the Nasdaq futures are up 5.50. This is indicating a slightly higher open to start Wednesday’s trading session but European markets have yetRead more

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Dow Testing November Lows

It was a nasty day for the market as the Dow tanked nearly 300 points to close at 7,552. The nearly 4% dropped puts the Dow in a stone’s throw of testing its November low of 7,400. The Nasdaq fell below 1,500 as it dropped 63 points, or 4.15%, toRead more

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Market Heads Lower

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.