Blog

Dow Hanging on to 8000 Level

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

More

Apple Rocks Wall Street Estimates

Well, well, well. Look who is not going away without a fight. A day after setting a 52-week low of $78.20, Apple (AAPL, $82.83, up $4.63) made a strong comeback rising 6%. After the closing bell, Apple reported record revenue of $10.17 billion for the quarter as income came inRead more

More

Intuitive Surgical Rebounds Off 52-Week Low

Yesterday afternoon I provided a quick update for Intuitive Surgical (ISRG, $95.37, up $0.72) which was at $96 but easily took out its 52-week low by the end of the day. The company is still on tap to report earnings after the bell on Thursday. The February 90 puts (AXQNR,Read more

More

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

More

Gold Back on Radar

In mid-December we rode gold for a three-day trade that netted quite a few double-digit returns. The “Big Three” is what I like to call my Watch List for gold although there are five or six on the list that I follow. Here is an excerpt from the December 15Read more

More

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

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

More

HSBC Holdings Continues Freefall

HSBC Holdings (HBC, $33.84, down $6.11) is getting crushed again this morning on more concerns about the European banks. If you thought it was bad over here, it’s worse in Europe. There are a slew of banks that are under serious selling pressure and the fall is stunning. Royal BankRead more

More

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

More

Genentech Posts Solid Quarter

Genentech (DNA, $85.10, up $0.02) reported a solid quarter on Thursday as profits came in at $931 million, or $0.87 a share, up from $632 million, or $0.59, a year earlier. Revenue was up 25% to $3.7 billion from $3 billion. The nearly 50% rise in profits were due toRead more

More

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.