3:00pm (EST) 1. Market Summary 2. RIMM’s Bright Earnings Prospects 3. Adobe (ADBE) Looks Undervalued, Ready to Beat Estimates 4. Patriot Coal (PCX) Covered Call Update 5. Special Offer from Momentum Options Trading 6. Week Ahead = = = = = = = = = = = =
MomentumOptionsTrading.com Weekly Wrap for 12/12/10
RIMM Beats Estimates, Futures Up
9:00am (EST) The bulls managed a strong comeback on Thursday and kept the major averages near resistance despite signs of the bears waking up. Yesterday’s action favored the bears for much of the session but in the last hour of trading, the bulls were able to make up ground as
Whole Lot of Nothing
1:05pm (EST) Wall Street was bracing for a big move today but we knew this morning when the initial claims report came in at 450,000 we could have a flat day. Although the bears had the early edge, the bulls have used the better-than-expected PPI number to battle back. We said
Bulls Battle Back, FedEx (FDX), (RIMM) on Deck
1:00pm (EST) The market started the session off in negative territory after a poor reading on manufacturing activity in New York gave the bears some confidence. The Empire State Manufacturing Survey Index for September came in at 4.1, which was below estimates of 6.4. The results were significantly lower from the 7.1 reading last
Apple (AAPL) Moving In On RIMM's Turf
12:50pm (EST) The market is mixed after getting off to a good start but less than stellar economic news has cooled the enthusiasm. Earnings continue to dominate the headlines but the bulls are having trouble breaking through the upper resistance levels we outlined in the morning update. The consumer confidence report came
RIMM Tops Estimates, Falls Short on Revenue
9:00am (EST) The bears continued their assault on the bulls Thursday following a pattern of late-day sell-offs that has carried the market generally lower all week. Yesterday’s weakness came after the Labor Department reported initial jobless claims declined 19,000 week-over-week to 457,000 which was roughly in-line with the 460,000 that had been expected. The market also
Make Or Break Quarter For RIMM?
1:00pm (EST) Second quarter earnings season is right around the corner, but we get an early present with Research In Motion (RIMM, $58.82, down $0.82) reporting after the close today. The announcement is so important and will offer a sneak peek into how much the smart-phone playing field is leveling.
Market Looks Nervous
9:00am (EST) Things could get interesting… Wednesday was whacky and the battle between the bulls and bears is starting to heat up a bit. The market was facing a lot of headwinds yesterday and we figured trading would be tepid heading into the 10-year note auction. That was well-received but
Research In Motion (RIMM) Misses By A Penny
9:00am (EST) We knew going into yesterday’s open the market was going to have a rough session after the bulls after some disappointing economic news. The market started off in the red but the losses were contained as the bulls came in and started buying at the lows shortly after the bell.
RIMM Rocks, Palm Rolls
9:10am (EST) Futures are pointing towards a higher open this morning following yesterday’s selloff. The Dow ended Thursday with a 132 point drop and settled at 10,308 while the S&P 500 fell 13 and finished at 1,096. Today is a quadruple witching day which means contracts for stock index futures,