November 22, 2015 The Week Ahead

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The SPDR S&P 500 (SPY) nearly regained all of last week’s losses, closing the week 3.3% higher. We are once again near our highs. Will we break through or sell off again? That is the question. However, we’ve got a shortened week, as the markets are closed on Thursday for the Thanksgiving holiday.

With that said, we’ve got a decent amount of economic data the first three days of the week. But expect volumes to be low as traders prepare to be on holiday.

The VIX sold back down, closing at 15.47.

The United States Oil Fund (USO) did not bounce, closing the week lower and just 4.5% off the 52-week lows.

Here’s what is on tap this coming week:

Key Economic Data:
23 November 2015- Existing Home Sales 10:00 AM ET
24 November 2015- GDP 8:30 AM ET, International Trade 8:30 AM ET
25 November 2015- Durable Goods 8:30 AM ET, Jobless Claims 8:30 AM ET, Personal Income 8:30 AM ET, New Home Sales 10:00 AM ET

Key Earnings:
23 November 2015- BRCD, PANW, YY, GME, MNK, TSN
24 November 2015- HPQ/HPE, TIVO, VNET, DSW, TIF, SIG, CBRL
25 November 2015- DE
27 November 2015- BLOX

November 19, 2015 Market Wrap Up

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The S&P 500 closed the day relatively flat, after a monster rally yesterday, where the market reacted positively to the FOMC minutes.

Interestingly, the VIX actually is trading around 17 and we are less than 2% off the highs in the SPDR S&P 500 ETF.

Stocks in play today, included Valeant Pharmaceuticals (VRX) +15%, Sunedison (SUNE) -11%, and Kalobios Pharmaceuticals (KBIO) +367%. Also, in the after hours, Nike (NKE) announced a new $12 billion share repurchase program and a raise in dividends. The stock is up more than 3% in the after hours.

The energy sector remains weak; the United States Oil Fund (USO) was flattish today. It’s now just 5% off the 52-week lows.

On the options front, we saw large call buying activity in Allergran (AGN). In addition, we saw bearish bets being placed in Medtronic (MDT).

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

20 November 2015- ANF, FL

November 17, 2015 Market Wrap Up

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The S&P 500 closed the day relatively flat, after a surprising rally yesterday. With that said, there was a decent amount of trading volatility. The SPDR S&P 500 ETF had a range of 204.88 to 207.04.

A lot of attention has been focused on what the Fed will do next December. Not to mention, what’s happening overseas after the Paris attacks. Earlier today, a football match between Germany and Holland was cancelled due to security issues.

The VIX actually traded higher, closing at 18.65.

Stocks in play today, included GNC Holdings (GNC) -4%, Sunedison (SUNE) -32%, and Airgas (ARG) +29%.

The energy sector remains weak; the United States Oil Fund (USO) was down nearly 2.2% today. It’s now just 5% off the 52-week lows.

On the options front, we saw large call buying activity in Ulta Salon Cosmetics & Fragrance (ULTA). In addition, we saw bearish bets being placed in Herbalife (HLF) -2.19%.

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

Key Economic Data:
18 November 2015- Housing Starts 8:30 AM ET, FOMC Minutes 2:00 PM
19 November 2015- Jobless Claims 8:30 AM ET, Philly Fed Survey 8:30 AM ET

Key Earnings:
18 November 2015- LOW, SPLS, TGT, CRM, GMCR, JACK, NTAP
19 November 2015- BBY, ADSK, GPS, ROST, NMBL, ZOES, SPLK
20 November 2015- ANF, FL

Key Events:
16 November 2015- UBS Global Technology Conference (runs till 10/19)
17 November 2015- Bank America Banking and Financial Services conference (runs till 11/18), Morgan Stanley Global Consumer & Retail Conference (runs till 11/18), Stifel Healthcare Conference (runs till 11/18)
18 November 2015- Barclays Global Auto Conference (runs till 11/19)

November 12, 2015 Market Wrap Up

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The S&P 500 saw some heavy selling pressure, closing the day down nearly 1.5%. Keep in mind, we had a very strong October, almost leading us back to the highs.

Will we break the highs, or did the market rally too fast too soon? These are questions traders are asking. In addition, eyes and ears are on Fed officials. We had six speak today on the economy and possible Fed actions.

Many believe there is a 50-50 chance that we will see a rate hike in December. However, it almost appears that opinions change almost every day.

Stocks in play today, included Fitbit (FIT) -7.3%, Sunedison (SUNE) -6.3%, and Allergran (AGN) -3%.

It should come to no surprise that the VIX surged; however, it was a pretty big move, up more than 2 points and closing at 18.37.

The energy sector was weak; the United States Oil Fund (USO) was down nearly .3% today.

On the options front, we saw large call buying activity in MPLX LP (MPLX). In addition, we saw bearish bets being placed in Shake Shack (SHAK).

Here’s what’s on tap tomorrow:

Key Economic Data:
13 November 2015- Retail Sales 8:30 AM ET, PPI 8:30 AM ET

Key Earnings:
12 November 2015- DSX, VIAB, AMAT, CSCO, IGT, KSS

November 10, 2015 Market Wrap Up

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The S&P 500 closed the day higher, snapping its four day losing streak. Overall, it was a generally slow day.

It appears that market participants are digesting what a potential rate hike is going to mean.

Stocks in play today, included Apple (AAPL) -3.2%, Flotek (FTK) -41%, Sunedison (SUNE) -21.5%, and Mallinckrodt (MNK).

Interestingly, the VIX sold off a lot…now trading at 15.29.

The energy sector was flat; the United States Oil Fund (USO) was down nearly .5% today. USO is still nearly 50% off its yearly highs.

On the options front, we saw large call buying activity in EBay (EBAY). In addition, we saw bearish bets being placed in Market Vectors Gold Miners (GDX)

Here’s what’s on tap tomorrow:

Key Economic Data:
12 November 2015- Jobless Claims 8:30 AM ET
13 November 2015- Retail Sales 8:30 AM ET, PPI 8:30 AM ET

Key Earnings:
11 November 2015- M, PAH, NTES
12 November 2015- DSX, VIAB, AMAT, CSCO, IGT, KSS

November 8, 2015 The Week Ahead

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The SPDR S&P 500 (SPY) is less than 1% off its all-time highs. However, there wasn’t much reaction from Friday’s job numbers. A surprise in job growth followed in a drop in the unemployment rate dropped to 5%.

This of course sets the stage for a potential interest rate hike when the FOMC meets in December.

Surprisingly, the VIX closed lower, finishing below 15.

The United States Oil Fund (USO) had a rough week, dropping nearly 4% on the week.

It’s a relatively slow week in regards to economic data. With that said, there aren’t that many big names reporting earnings either. However, eyes and ears will be on Fed speakers as they give possible hints on what their next move will be.

Key Economic Data:
12 November 2015- Jobless Claims 8:30 AM ET
13 November 2015- Retail Sales 8:30 AM ET, PPI 8:30 AM ET

Key Earnings:
9 November 2015- ACI, DISH, PCLN, ISIS, JAZZ, LEAF, RAX, SUNE, TERP
10 November 2015- BZH, QIWI, VOD, FOSL, EXEL
11 November 2015- M, PAH, NTES
12 November 2015- DSX, VIAB, AMAT, CSCO, IGT, KSS

November 5, 2015 Market Wrap Up

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The S&P 500 closed the day relatively flat and near all-time highs. In fact, both the SPY and QQQ are near their highs on the year.

This sets the stage for an interesting Jobs number tomorrow. Will the market have a blow off top or will the numbers be used as an excuse to sell? We shall see tomorrow morning.

Of course, traders continue to monitor what FED speakers are saying ahead of their December meeting.

Interestingly, the VIX got hit a little, dropping about 3%, and closing at 15.05.

The energy sector was weak; the United States Oil Fund (USO) was down nearly 2.5% today. USO is still nearly 50% off its yearly highs.

On the options front, we saw large blocks of BAC weekly straddles traded. Someone believes that the banks, more specifically, Bank Of America will move big tomorrow but are unsure in which direction it will be.

Here’s what’s on tap tomorrow:

Key Economic Data:
6 November 2015- Employment Situation 8:30 AM ET

Key Earnings:
6 November 2015- HUM, HZNP

November 3, 2015 Market Wrap Up

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The S&P 500 closed the day higher as it continues to grind higher and near all-time highs. In fact, both the SPY and QQQ are near their highs of the year. However, the iShares Russell ETF (IWM) is nearly 8% off its highs.

Coming into the day, there was news that ATVI was going to be acquiring KING for more than $5 billion. This evening, we got earnings out of Tesla (TSLA), which was up 9% in after hours trading.

Interestingly, the VIX climbed today, gaining nearly 3% and closed at 14.54.

The energy sector was strong; the United States Oil Fund (USO) was up nearly 4% today. USO is still nearly 50% off its yearly highs.

On the options front, we saw bullish call buying in Nimble Storage (NMBL).

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

Key Economic Data:
4 November 2015- International Trade 8:30 AM ET
5 November 2015- Jobless Claims 8:30 AM ET
6 November 2015- Employment Situation 8:30 AM ET

Key Earnings:
4 November 2015- AGN, AVP, KORS, TWX, WEN, CF, FEYE, FB, QCOM, RIG, MRO, HOLX
5 November 2015- AMCX, AZN, CELG, COTY, DUK, GOGO, HFC, KATE, RL, TAP, ANET, CYBR, DATA, DIS, DWA, GLUU, NUS, SWKS, TRIP, WTW
6 November 2015- HUM, HZNP

November 1, 2015 The Week Ahead

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The S&P 500 finished the week relatively flat, however; it finished the month nearly 7% higher. In fact, the SPDR S&P 500 (SPY) is less 2% off the all-time highs.

With that said, the VIX closed around 15, a signal that there isn’t much fear in the market at the moment.

The United States Oil Fund (USO) was up nearly 4% on the week, and flat for the month. We continue to see a divergence between the energy and equity markets.

On the earnings front we’ll see releases out of the likes of Disney, Facebook, Qualcomm, and Ralph Lauren to name a few.

Key Economic Data:
2 November 2015- ISM Manufacturing Index 10:00 AM ET
4 November 2015- International Trade 8:30 AM ET
5 November 2015- Jobless Claims 8:30 AM ET
6 November 2015- Employment Situation 8:30 AM ET
30 October 2015- Personal Income 8:30 AM ET

Key Earnings:
2 November 2015- CLX, CTB, D, DO, EL, L, KBR, NBL, V, SYY, AIG, CAR
3 November 2015- DISCA, MOS, ZTS, TASR, SALE, EMR, ATVI, CBS, GRPN, X, ZNGA, HLF
4 November 2015- AGN, AVP, KORS, TWX, WEN, CF, FEYE, FB, QCOM, RIG, MRO, HOLX
5 November 2015- AMCX, AZN, CELG, COTY, DUK, GOGO, HFC, KATE, RL, TAP, ANET, CYBR, DATA, DIS, DWA, GLUU, NUS, SWKS, TRIP, WTW
6 November 2015- HUM, HZNP

October 28, 2015 Market Wrap Up

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The S&P 500 closed the day higher as it continues it’s epic surge higher this month. To date, we’re up more than 8% on the month. With that said, the FOMC meeting was as expected. They decided not to touch the key interest rates, but will revisit the idea in December.

Earlier this morning we had earnings results out of Walgreens (WBA) -10.7%, Starwood Hotels (HOT) +6.2%, and T-Mobile (TMUS).

The VIX continues to get clobbered, it was down more than 7%, now trading at 14.33.

The energy sector was strong; the United States Oil Fund (USO) was up nearly 7% today. It will be interesting to see if it rallies along with the market. There has been some dislocation between the energy and equity markets over the last month.

On the options front, we saw bullish call buying in Flextronics (FLEX). We saw bearish option activity in Oasis Petroleum (OAS).

This evening we got earnings results from GoPro (GPRO) -11%, Amgen (AMGN) +1.3%, and Paypal (PYPL) -3%.

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

Key Economic Data:
29 October 2015- GDP 8:30 AM ET, Jobless Claims 8:30 AM ET
30 October 2015- Personal Income 8:30 AM ET

Key Earnings:
29 October 2015- AET, CLF, COP, ESV, JAH, JCI, KERX, MO, NOK, MTH, TEVA, TWC, VALE, ZBH, BIDU, EA, LNKD, MOBL, SBUX, WU, SCTY
30 October 2015- ABBV, CVS, XOM, MYL, CVX, CL, ETN