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Bank Stocks Up/ Abercrombie Trade

9:15am (EST)   The Dow futures are lower by 13, and Nasdaq futures are down 8 points as we head towards the opening bell.  S&P 500 futures were down 1 point.  In economic news, consumer prices (CPI) showed no changed in July, in-line with Wall Street’s expectations and far below the 0.7% jump in June. Read more

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Time To Take A LEAP

12:55pm (EST)   The market started off strong but has given back most of those gains as I head to lunch.  The Dow is up 14 to 9,376 while the Nasdaq is trading at 2,005, up 6.  The S&P is at 1,009, up 3 points.  I wanted to expand moreRead more

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Futures Up, Retail Sales Down

9:20am (EST) Futures are pointing towards a higher open this morning despite a couple of iffy economic reports.  The Dow futures are up 60, Nasdaq – 13, while the S&P futures are up 7.  Though still up, futures pulled back slightly following the the just released Advance Retail Sales Report for July.Read more

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Market Update/ Fed News Shortly

1:00pm (EST)   We have about an hour before the Fed announcement and the market is trading higher ahead of the news.  The Dow is currently enjoying a 119 point gain and is standing at 9,360.  The Nasdaq is at 2,001, up 31, while the S&P 500 is at 1,006,Read more

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Trade Updates

9:25am (EST)   Bank of America (BAC, $15.85, down $0.83)   November 17.50 calls (BYOKZ, $1.20, down $0.30)   Entry Price: $1.25 (8/10/09) Exit: $1.25 (8/11/09) Return: 0% Stop: CLOSED   November 20 calls (BYOKT, $0.56, down $0.14)       Entry Price: $0.50 (8/10/09) Exit: $0.57 (8/11/09) Return: 14% Stop: CLOSED   Action:  We closedRead more

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Time For Some Protection

11:50am (EST) The market continues to trade lower as the Dow is now off by triple-digits.  At 9,234, the 103 point loss shows the nervousness Wall Street is experiencing ahead of the FOMC meeting.  It still is up in the air if this rally continues but if it doesn’t weRead more

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Random Thoughts

10:45am (EST) There’s not a lot of green out there as the bulls are taking a breather ahead of the FOMC fireworks.  I was pushed for time this morning which is why I posted right at the opening bell.  I have been busy with a couple of projects which I willRead more

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Tuesday's Tidbits

9:30am (EST) Bank of America (BAC, $16.68, up $0.26)   November 17.50 calls (BYOKZ, $1.50, up $0.10)   Entry Price: $1.25 (8/10/09) Exit Target: $2.50 Return: 20% Stop: 60 cents     November 20 calls (BYOKT, $0.70, up $0.04)       Entry Price: $0.50 (8/10/09) Exit Target: $1.00 Return: 40% Stop: 25 cents      CiscoRead more

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Bank of America Dips Then Rebounds

11:20am (EST) Sometimes you get in a zone and it feels like you know how a stock will trade like the back of your hand.  Bank of America (BAC, $16.83, up $0.41) is one such stock and here is what I said last night in the Trade Updates for BankRead more

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Monday Morning Notes

9:00am (EST) We are looking at a slightly negative open with futures trading lower this morning. Around the globe, the Asian markets have posted impressive gains but the major European exchanges are experiencing a decline.  As a result, Dow futures are currently down 39, or 0.4%, to 9,276.  The S&P 500 futures are off by 5, or 0.3% toRead 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.