Posts Tagged ‘Freeport-McMoRan’

Hit Me With Your Best Shot

10:40am (EST) Fire away, hey-hey… The bulls invited the bears into the ring and immediately took the bears best shot.  The unemployment report came in as expected, 9.8%, but the job loss of 263,000 was way more than the 180,000 Wall Street had expected. I told you this morning IRead more

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All Eyes on Palm

12:50pm (EST) The market is struggling today as it has darted in and out of positive territory.  Jobless claims dipped to 545,000 last week from an upwardly revised 557,000 the previous week which helped stocks recover from the open but it appears the bears are selling the news and trying to push theRead more

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GE, Baidu.com Breaking Out

12:30pm (EST) General Electric (GE, $16.68, up $0.68) is rolling this week.  The stock opened Mondayat $14.55 and closed yesterday at $16.  Today’s 4% pop is shows the stock’s momentum after passing hitting the $16 level and shares look poised to run to $17 where there is resistance.  Volume is thru the roof as 113 millionRead more

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Retail Sales Lift Futures, Best Buy Misses

9:00am (EST)   Futures were slightly higher before the Retail and PPI numbers came out at 8:30am.  Before the reports the Dow futures had been up 4 while the S&P 500 futures were higher by 1 but jumped after the reports were released.  August Retail Sales were up 2.7% compared to expectationsRead more

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New Trading Service DETAILS

I’ve got a lot to cover about our new service but I wanted to go over the trades that I have been covering in the blog first. Ford Motor (F, $6.41, up $0.28) had a stellar day as it added 5%. I profiled the December 6 calls (FLI, $1.64, upRead more

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Bulls Come Out Swinging

9:30am (EST) Like cotton on sheep, the bulls are all over the opening bell. The Dow just opened and is currently up 110 to 8,610; the Nasdaq is up 22 to 1,796 and the S&P 500 has added 12 and is at 931. The big news of course is GeneralRead more

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Weekly Wrap for 5/31/09

1. Commentary 2. Oil Surges in May 3. General Motors Put Options 4. Earnings 5. Current Trades 6. Monday Morning Playbook 7. Closing Thoughts ************************************************** 1. Commentary Another week, another win for the bulls. Although we have been stuck in a trading range, the bulls carried the market higher onceRead more

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More on General Motors – Update at 1:30pm

1:30pm (EST) Just wanted to add something to the blog below. The GM June 1 puts (GMVR, $0.61, up $0.07) have traded nearly 100,000 contracts as open interest has swelled to over 425,000 contracts. The put options opened at 57 cents today. The action is amazing and it remains toRead more

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Freeport-McMoRan Breaks $50

10:15am (EST) Freeport-McMoRan (FCX, $51.81, up $2.29) has been on a major roll since March and is up another 5% this morning. The stock is a frequent guest here in the blog and we have made some good trades in the past playing its options. I made a Watch ListRead more

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Freeport-McMoran Stages Furious Comeback

We were whipsawed out of the Freeport-McMoran (FCX, $32.31, up $3.90) trade from last Friday when the stock dropped $4 yesterday. Naturally, I didn’t expect a 10% drop in the stock price when we bought the March 35 calls (FCXCG, $1.50, up $0.97) for under a $1. The calls tradedRead 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.