July 21, 2016 Market Wrap Up | TVC Trading Education Courses

July 21, 2016 tvcuser Education, Trading CMG, Crude Oil, Earnings, HUM, JAZZ, JOY, KONE, LUV, OPTT, PFPT, PYPL, RLYP, S&P 500, SBUX, VIX, ZFGN

The S&P 500 closed slightly lower today as we treasuries and gold catch a bid. In addition, the Dow Jones Industrials snapped its nine day winning streak. Early in the morning there were two deals announced. First, Komatsu made a bid to buy Joy Global (JOY) for $2.9 billion. The second was in the biotech space; Galencia made a bid to buy Relypsa (RLYP) for $1.53 billion.

Stocks in play today include: Ocean Power Technologies (OPTT) -32%, Kingtone Wirelessinfo (KONE) +325%, Southwest Airlines (LUV) -11%, and Humana (HUM) +8%.

The VIX finally caught a bid today, closing 8% higher at 12.74.

Crude oil futures dropped about 2%, closing below $45 per barrel.

This evening we got earnings out of Paypal Holdings (PYPL) +1.9%, Starbucks (SBUX) -3.2%, Chipotle Mexican Grill (CMG) -1.7%, and Proofpoint (PFPT) +4.8%

On the options front, we saw large call buying activity in Jazz Pharmaceuticals (JAZZ), which traded 14.2 times normal volume. We also saw a ton of bearish bets being placed in Zafgen (ZFGN), which traded 9.6 times usual volume.

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

Key Earnings:
21 July 2016- ALK, BBT, BIIB, BK, BX, DAN, DHI, DNKN, DPZ, DOV, GM, HBAN, JCI, LUV, PHM, UN, UNP, AMD, CMG, ATHN, COF, FLEX, P, SBUX, SLB, SWKS, SYK, T, V
22 July 2016- GE, HON, SWK, SWN, SYF, TXT, VFC, WHR

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June 1, 2016 Market Wrap Up

June 1, 2016 tvcuser Education, Trading Data, Earnings, Economic, ETE, Events, HFC, NKE, OPEC, OPTT, S&P 500, USO, VIX, WLK

The S&P 500 started the new month on a positive note, however; volume was well below the average. With that said, it’s not the greatest sign, when we’re moving towards all-time highs without any follow through in volume.

Stocks in play today: Nike (NKE) -.5%, Energy Transfer Equity (ETE) +8%, Ocean Power Technologies (OPTT) +285%, Hollyfrontier (HFC) +5%

Given the weak volume and lack of downward follow through pressure…the VIX didn’t do too much, closing at 14.20.

The United States Oil Fund (USO) was down less than .25% today. Crude oil futures have been wrestling trying to break $50 per barrel. Now, they’ve been able to get their intraday, but have yet to hold on to it. Tomorrow marks an OPEC meeting as well as the EIA petroleum report.

On the options front, we saw large call buying activity in Westlake Chemical Corp (WLK), which traded 16.9 times normal volume. We also saw a ton of bearish bets being placed in Nike (NKE), which traded 3.9 times usual volume.

Here’s what’s left for tomorrow and Friday:

Key Economic Data:
2 June 2016- Jobless Claims 8:30 AM ET, EIA Petroleum Status 11:00 AM ET
3 June 2016- Employment Situation 8:30 AM ET, International Trade 8:30 AM ET

Key Earnings:
2 June 2016- CIEN, CONN, JOY, AMBA, AVGO, CMTL, FIVE, IDT, ZUMZ

Key Events:
KeyBanc Industrials & Auto Conference (runs till 6/2)
Bernstein 32nd Annual Strategic Decisions Conference (runs till 6/3)
Bank America Global Technology Conference (runs till 6/2)
Cowen 44th Annual Technology, Media & Telecom Conference (runs till 6/2)
DA Davidson 8th Annual Technology Forum; RBC Consumer & Retail Conference (runs till 6/2)