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Fed Leaves Rates Unchanged

The market was enjoying a huge rally before the Fed meeting and extended that rally when news broke that the Fed’s Open Market Committee held rates at 2%. The committee is made up of six members and all but one agreed to leave its key rate where it stood. TheRead more

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Financial Stocks Moving Higher

Wachovia (WB, $18.32, up $1.20) is the top performer among financial stocks today as we get closer to the Federal Reserve meeting to decide U.S. interest rates. The company’s CEO went on record saying that Wachovia would not need to raise anymore capital and that management changes are done forRead more

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Gold Stocks Trending Lower

It’s been a rough month for Gold and it continued yesterday with the price falling $9 an ounce to $908. Other metals traded lower as well. Silver tumbled $0.38 to close at $17.14 a pound, while Platinum fell $92 to close at $1,563 an ounce. Copper dropped $0.14 to $3.44Read more

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RIMM/ Qualcomm Stopped Out

The market went on another wild ride Monday with the Dow posting a triple-digit loss to start the session. The financials were once again an area of concern as many of them traded lower for the day. The market staged an afternoon comeback when oil suddenly dropped $4 a barrelRead more

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ImClone Wants More

ImClone Systems (IMCL, $64.59, down $0.75) has responded to Bristol-Myers Squibb (BMY, $21.49, up $0.38) offer for a buyout of $4.9 billion and has said the bid is too low. The company said it is evaluating the deal, but has stated that it already feels it’s too low. The storyRead more

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Weekly Recap

After a week of triple-digit gains and losses, the Dow basically ended the week where it started. The financial sector played a major role in the volatility and we got some mixed economic data as well. Crude oil was also volatile, trading in a range of $120-$130 for the weekRead more

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Biotech Sector Mixed

The biotech stocks were hot on Thursday but some of them are taking huge blows today after a drug safety scare. Elan (ELN, $11.27, down $8.78) is down another 45% following Wednesday’s 14 point drop. The stock was at $34 on Tuesday when Elan released results of a clinical trialRead more

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July Unemployment Jumps

The U.S. unemployment rate increased 5.7%, from 5.5% in June, according to the Labor Department. Unemployment is now at its highest level in four years as employers cut non-farm jobs for a seventh straight month. The July job loss was not as bad as Wall Street feared and the riseRead more

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Research In Motion Update

Research In Motion (RIMM, $122.82, up $3.60) was just what the doctor ordered. The stock opened Thursday’s trading session at $119.69 and the September 140 calls (RULIH, $2.75, up $0.90) opened at $1.85. The opening allowed us to get in the calls immediately as we had a limit order toRead more

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News Flash: ImClone Systems Gets Buyout Offer

Talk about waking up to good news. There’s no better feeling as an option trader then to start you day off by learning that one of your option plays is up 700% for the day. No that is not a typo. But that is exactly what is happening today asRead 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.