The Dow is back at 8000, down 228 points, as the financial stocks are weighing heavy on the market once again. The financial stocks are averaging 20%-50% moves this week on a daily basis and as options traders, this is the stuff we live for. The sector continues to experienceRead more
Dow Hanging on to 8000 Level
Apple Rocks Wall Street Estimates
Intuitive Surgical Rebounds Off 52-Week Low
Market Reverses Course
The market started off in positive territory as the Dow traded to a high of 8100 but just turned negative after an hour and a half of trading. The Dow’s 150-point gain has been wiped out and as the Senate is grilling President Barack Obama’s Treasury Secretary nominee, Timothy Geithner,Read more
Gold Back on Radar
Big Blue Beats Street
International Business Machines (IBM $81.98, down $2.94) beat Wall Street estimates after the market closed on Tuesday and got a lift in after-hours trading. The company reported a profit of $3.28 a share on sales of $27 billion, versus $2.80 a share on revenue of $28.9 billion last year. WallRead more
Intuitive Surgical Update
Intuitive Surgical (ISRG, $96.69, down $3.28) is testing its 52-week low again which was set last Thursday at $96.17. I profiled the February 90 puts (AXQNR, $4.20, up $0.10) on 1/9 at $4.50 and as you can see, they are slightly lower from our entry price. The three-day weekend knockedRead more
HSBC Holdings Continues Freefall
Weekly Wrap For 1/18/09
1. Commentary 2. HSBC Holdings 3. Genentech 4. Intel 5. Earnings 6. Closing Thoughts ************************************************** 1. Commentary The market continued its slide last week led by the financial sector which lost over 15%. We had the usual suspects in-play as a number of high profile banks begged, borrowed, and pleadedRead more