May 29, 2015 Market Wrap Up

The S&P 500 closed relatively weak today, on increased volatility. Some market pundits attributed the move to weaker than expected economic numbers. In addition, market participants are awaiting how the Greek debt situation will play out.

The VIX shot up nearly half a point, closing above 13.84.

In respect to energy, The United States Oil Fund was up 4%, closing at 20.36. Looking forward, the energy names might see some increased volatility ahead of the Opec Meeting.

On the options front, we saw bullish call buying in PepsiCo Inc (PEP) and Heron Therapeautics Inc (HRTX). In addition, we saw bearish put buying in Trinity Industries Inc (TRN) and Express Scripts Holding Company (ESRX).

May 26, 2015 Market Wrap Up

The S&P 500 closed significantly lower, on increased volatility. Some market pundits attributed the move to a strengthening U.S. Dollar and greater uncertainty coming out of Greece.

The VIX shot up nearly 2 points, closing above 14.

In respect to energy, The United States Oil Fund was down 3%, closing at 19.68. In addition, option volatility spiked in USO options, rising nearly 4 points and closing at 33% IV (for the 30-day at-the-money options).

On the options front, we saw bullish call buying in Merck and Co Inc (MRK) and Cameco Corporation (CCJ). In addition, we saw bearish put buying in Trinity Industries Inc (TRN).

Here’s what’s on tap for the rest of the week:

Key Economic Data:
28 MAY 2015- Jobless Claims 8:30 AM ET
29 MAY 2015- GDP 8:30 AM ET

Key Earnings:
27 MAY 2015- PANW, DSW, KORS, TOL, TIF, VALE, COST
28 MAY 2015- ANF, EXPR, SIG, DECK, GME, OVTI, PSUN, SPLK, ULTA, AVGO, SAFM

Key Conferences:
27 MAY 2015 (runs till 5/29)- KeyBanc Industrial, Auto, Transportation Conference
27 MAY 2015 (runs till 5/28)- Re/Code’s Code Conference
27 MAY 2015 (runs till 5/29)- Bernstein Strategic Decisions Conference
27 MAY 2015 (runs till 5/28)- Citigroup Global Consumer Conference
27 MAY 2015 (runs till 5/28)- Cowen Technology, Media, Telecom Conference

May 25, 2015 The Week Ahead

First off, we’d like to wish you a happy Memorial Day. With that said, the markets are closed today, which means the trading week will consist of four days.

Now, the S&P 500 ended Friday’s trading slightly lower on weak volume. However, we are still sitting on near all-time highs.

The VIX is still below the 12.5 level, indicating that market players have become complacent.

Crude Oil futures are near their 3 month highs, closing slightly below $60 per barrel. In fact, crude oil futures have risen on a weekly basis for two straight months now.

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May 19, 2015 Market Wrap Up

The S&P 500 closed the day slightly lower; however, volume was extremely anemic.

The VIX is trading below the 13 level; however, it gained less than a percent.

The energy market saw some increased volatility. The United States Oil Fund was down 4%, closing at 19.63. In addition, option volatility spiked in USO options, rising nearly 4 points and closing at 33% IV (for the 30-day at-the-money options)

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May 17, 2015 The Week Ahead

The S&P 500 ended Friday’s trading at all-time highs. However, the market was in an extremely narrow trading range. Possibly, a hint that summer trading is around the corner.

The VIX is back below the 12.5 level. It will be interesting to see if we break below 12.

Crude Oil futures are near their 3 month highs, closing slightly below $60 per barrel.

Earnings worth highlighting this week include Wal-Mart (WMT), Home Depot (HD) and Hewlett-Packard (HPQ).

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May 12, 2015 Market Wrap Up

The S&P 500 closed the day lower; however, it fought back after being down a decent amount in the pre-market. At one point, both the S&P 500 and the NASDAQ were below the 50-day moving average.

The VIX is back above the 13.50 level; however, despite the volatility, it was barely unchanged today, closing at 13.86.

The energy market continues to strengthen; the United States Oil ETF (USO) settled higher, at $20.74, good for nearly a 2% gain.

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May 10, 2015 The Week Ahead

The S&P 500 erupted after Friday’s nonfarm payrolls report, erasing losses from Tuesday and Wednesday’s trading sessions.

The VIX is back below the 13 level after gettting above the 15 mark this week.

Crude Oil futures reached their highest level in 3 months earlier in the week, closing above $60 per barrel. Currently, we’re just below that, at $59.42 per barrel.

Earnings continue to chug along…however, many of the big names have already released. Some key names to watch are Cisco (CSCO), Applied Materials (AMAT), Rackspace Hosting, Inc. (RAX) and retailer, Kohl’s Corp (KSS).

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May 7, 2015 Market Wrap Up

The S&P 500 saw a small bounce today, closing up, less than .5%. With that said, the VIX didn’t move much, closing at 15.13. In individual stock news, we got some reactions to recent earnings releases from Alibaba Group Holding Limited (BABA) +7.5%, Priceline Group Inc (PCLN) -4%, and Tesla Motors (TSLA) +2.8% to name a few.

One strong sector this week has been in the energy group; however, crude oil futures closed the day relatively weak; the United States Oil ETF (USO) settled in at $20.20, good for a 3% decline.

On the options front, we saw bullish call buying in Kinross Gold Corporation (KGC) and Cabelas Incorporated (CAB). Bearish option bets were made in Yingli Green Energy Holding Company Limited (YGE).

Other stocks in play today were Yelp Inc (YELP) +23%, Xilinx Inc (XLNX) +0.59%, and Monsanto (MON) +2.43%. These names were all associated with takeover chatter.

Here’s what’s on tap for the rest of the week:

Key Economic Data:
8 MAY 2015- Employment Situation 10:00 AM ET

May 3, 2015 The Week Ahead

The S&P 500 ended the week lower, despite a nice bounce on Friday.

The VIX is currently below the 13 level, indicating little to no fear in the market.

Crude Oil futures ended the week up, maintaining their strength. The United States Oil ETF, (USO), closed the week at $20.40 per share.

This upcoming week is light on economic data; however, we should see some decent volatility in individual stock names. There are still a slew of companies releasing earnings. One notable name will be Alibaba Group Holding Limited (BABA).

Another notable catalyst will be on Monday; the 20th Annual Ira Sohn Investment Conference will start. Basically, a meeting of some of the sharpest minds on Wall Street talking about their views on the market and what their favorite investment ideas are.

Comments made by some of the top hedge fund managers have the potential to really move individual stock names. Over the last several weeks we’ve seen a ton of aggressive call buying in CSX Corp (CSX). Some traders believe that is a company that will be mentioned positively in the conference.

Last year, The Wall Street Journal live blogged the conference. We highly suggest you find a website that will be covering the conference.

Here’s what’s on the schedule:

Key Economic Data:
5 MAY 2015- International Trade 8:30 AM ET
7 MAY 2015- Jobless Claims 8:30 AM ET
8 MAY 2015- Employment Situation 10:00 AM ET

Key Earnings:
4 MAY 2015- CVS, CMCSA, CTSH, L, PRGO, RLGY, SIRI, TSN, EOG, THC
5 MAY 2015- ADM, DISCA, EMR, HCA, ICE, K, NBL, ODP, S, TRW, VMC, ZTS, UBS, DIS, DVN, EA, HLF
6 MAY 2015- CHK, LAMR, SODA, WEN, HAIN, GSK, ATML, ATVI, CF, FOXA, MET, MRO, TRIP, TSLA, WFM
7 MAY 2015- APA, APO, BABA, GOOG, LEAF, PCLN, SN, CBS, CYBR, NUAN, OLED, OUTR, SFM, TSO

Key Conferences:
4 MAY 2015- Longbow 6th Annual Cleveland Industrial Days, 20th Annual Sohn Investment Conference

May 1, 2015 Market Wrap Up

The S&P 500 rallied strong after yesterday’s sell off. Despite the run up in the market, they ended the week lower.

It was a fairly slow day unless you traded off headlines. One stock in play was YUM Brands Inc. (YUM). The stock price spiked nearly 7% after Dan Loeb’s Third Point announced that they were taking a major stake in the company.

Yesterday’s fear was forgotten. The VIX practically collapsed, it was down over 12%, closing at 12.70

Crude oil futures closed the day relatively flat; the United States Oil ETF (USO) settled in at $20.40.

On the options front, we saw bullish call buying in Aercap Holdings NV (AER) and CSX Corporation (CSX). Bearish option bets were made in Rockwell Medical Inc. (RMTI).