April 7, 2016 Market Wrap Up

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The market continues to have a rough week thus far. Overall, the S&P 500 was down 1.2%, the Nasdaq -1.47%, and the Dow Jones Industrials -0.98%. Whether it’s profit taking ahead of earnings, or an overbought sentiment that caused the selling today, it’s still too early to say.

The VIX saw another spike today, closing up nearly 15%, at 16.16.

Despite weakness in the equity markets, crude oil was relatively stable. The United States Oil Fund (USO) was down less than one percent, however; it’s pared almost half those losses in the after hours session.

On the options front, we saw large call buying activity in Endo International (ENDP). In addition, we saw heavy put buying in Ross Stores, Inc. (ROST), which saw 14.7 times usual options volume.

Stocks in play included: Valeant Pharmaceuticals (VRX) +3.92%, Maximus, Inc. (MMS) -8%, Relypsa, Inc. (RLYP) +68%, and Tesla Motors (TSLA) -3.1%

There are no major domestic events scheduled for tomorrow.

April 5, 2016 Market Wrap Up

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The market was under a lot of selling pressure for most of the day. It all started last night, as Asian and European markets were both weak. The S&P 500 closed down more than 1%, making it two straight down days in a row.

The VIX shot up after hanging out in the low 13s…it’s now back above 15, as it closed the day 9.2% higher at 15.42.

On the options front, we saw large call buying activity in NeoPhotonics (NPTN). In addition, we saw heavy put buying in Big Lots (BIG), which was 7.3 times usual options volume.

Stocks in play included: Allegran (AGN) -15%, DragonWave (DRWI) +36%, and Tesla Motors (TSLA) +3.8%

In the after-hours, we saw a jump in crude oil prices following the American Petroleum Institute numbers. They reported a drop in crude inventories by 4.3m barrels. The United States Oil Fund (USO) is up more than 2% on that.

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

Key Economic Data:
6 April 2016- EIA Petroleum Report 10:30 AM ET, FOMC Minutes 2:00 PM ET
7 April 2016- Jobless Claims 8:30 AM ET

Key Earnings:
6 April 2016- GPN, MON, STZ, APOG, APOL, BBBY
7 April 2016- CAG, KMX, RAD

Key Events:
6 April 2016- 2016 MRO Americas Conference (runs till 4/7)
7 April 2016- Cowen 2nd Annual Retail & Luxury Day

March 15, 2016 Market Wrap Up

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It was a rather dull day in the equity markets, as traders await the FOMC announcement tomorrow. The S&P 500 is down less than half of a percent over the last two trading days.

The SPDR S&P 500 (SPY) had a low of 201.05, a high of 202.07, closing relatively flat at 199.54.

Oil traded lower, the United States Oil Fund (USO) closed the day at 9.75, down about 1.2%

The VIX closed above 17, down less than half of a percent at 16.84.

On the options front, we saw large call buying activity in Pacific Gas and Electric Company (PCG). In addition, we saw heavy put buying in Navient Corporation (NAVI), which was 16.2 times usual options volume.

Stocks in play included: Mallinckrodt (MNK) -15.5%, Valeant Pharmaceuticals (VRX) -51%, and Mead Johnson Nutrition Company (MJN) +11%

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

Key Economic Data:
16 March 2016- CPI 8:30 AM ET, Housing Starts 8:30 AM ET, Industrial Production 9:15 AM ET, EIA Petroleum Status Report 10:30 AM ET, FOMC Meeting Announcement 2:00 PM ET, Fed Chair Press Conference 2:30 PM ET
17 March 2016- Jobless Claims 8:30 AM ET, Philly Fed Survey 8:30 AM ET

Key Earnings:
16 March 2016- CTRP, FDX, GES, JBL
17 March 2016- ADBE, ARO, LE, MIK

Key Conferences:
14 March 2016- Citigroup CEO Conference (runs till 3/16)
15 March 2016- Bank of America Global Industrials and Autos Conference (runs till 3/18), Barclays Global Healthcare Conference (runs till 3/17)

March 10, 2016 Market Wrap Up

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We had an extremely volatile day in the markets today. Things really got interesting after the ECB announced that they would be doing more in the form of QE to try to stimulate the economy. With that said, the DAX got hit with a 2.3% drop.

The SPDR S&P 500 (SPY) had a low of 197.38, a high of 201.07, closing relatively flat at 199.54.

Oil was relatively flat. The United States Oil Fund (USO) closed the day at 10.04.

The VIX closed above 18, down 1.58% on the day.

On the options front, we saw large call buying activity in PHH Corporation (PHH). In addition, we saw heavy put buying in Rackspace Hosting (RAX), which was 2.1 times usual options volume.

Stocks in play included: J2 Global (JCOM) -19.5%, Barrett Business Services (BBSI) -35%, and Williams Companies (WMB) -8.3%

There are no key events on the schedule tomorrow.

March 9, 2016 Market Wrap Up

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The equity markets bounced back from yesterday’s sell-off. However, it was a rather uneventful trading day to say the least. The SPDR S&P 500 had less than a point and a half range compared to the 2.6 ATR we’ve recently been used too.

Oil was able to regain all of yesterday’s losses. The United States Oil Fund (USO) closed the day more than 5% higher, at 10.15.

The VIX is hanging out above 18, it closed the day slightly lower at 18.34.

On the options front, we saw large call buying activity in CONN’s Inc. (CONN). In addition, we saw heavy put buying in Cabot Oil and Gas Corp (COG), which was 8.8 times usual options volume.

Stocks in play included: Unisys Corporation (UIS) -27.7%, Air Transport Services (ATSG) +18%, and Peabody (BTU) +28%

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

Key Economic Data:
10 March 2016- Jobless Claims 8:30 AM ET

Key Earnings:
10 March 2016- BONT, CSIQ, BOOM, FNSR, PAY, ULTA

Key Conferences:
JPMorgan Aviation, Transportation, & Industrials Conference

March 8, 2016 Market Wrap Up

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The equity markets declined for the first time in six trading days. With that said, we got some volatility back, with the S&P 500 dropping more than 1% and the VIX closing 7% higher at 18.67.

Oil has been on a tear of late, however; we did see some selling pressure today. The United States Oil Fund (USO) closed the day down more than 4%, at $9.64.

On the options front, we saw large call buying activity in Green Plains (GPRE). In addition, we saw heavy put buying in Unum Group (UNM), which was 4.1 times usual options volume.

Stocks in play included: Ep Energy (EPE) -17%, Seadrill (SDRL) -21%, and Urban Outfitters (URBN) +16%

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

Key Economic Data:
9 March 2016- EIA Petroleum Status Report 10:30 AM ET
10 March 2016- Jobless Claims 8:30 AM ET

Key Earnings:
9 March 2016- COKE, SQ, VVUS, FRPT, ONCE, VRA
10 March 2016- BONT, CSIQ, BOOM, FNSR, PAY, ULTA

Key Conferences:
Raymond James Institutional Investors Conference (runs till 3/9)
Cowen & Co 36th Annual Healthcare Conference (runs till 3/9)
Deutsche Bank Media, Internet and Telecom Conference (runs till 3/9)
Piper Jaffray Technology, Media & Telecom Conference (runs till 3/9)
RBC Financial Institutions Conference (runs till 3/9)
JPMorgan Aviation, Transportation, & Industrials Conference (runs till 3/10)

December 29, 2015 Market Wrap Up

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The S&P 500 is up over 1% over the last two days on relatively low volume. With that said, we’ve got just two more trading days till the year is over. Will all three major indices finish positive? At the moment, NASDAQ and the S&P 500 are both positive. However, the Dow Jones Industrial Average (DJI) is still down slightly.

The VIX continues to see a big sell off, it’s now trading around 16 and was down about 5% on the day.

Oil names caught a small bounce, the United States Oil Fund (USO) was up nearly 2% after the API Inventory numbers came out in the after hours.

Stocks in play today included: Sunedison (SUNE) -9%, FXCM +26%, and Amazon (AMZN) +2.8%.

On the options front, we saw large call buying activity in Newell Rubbermaid Inc. (NWL). We also saw aggressive put buying in Ultra Petroleum Corp (UPL).

As mentioned earlier this week, there isn’t much going on data wise.

Key Economic Data:
31 December 2015- Jobless Claims 8:30 AM ET

December 27, 2015 The Week Ahead

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And then there was four…that is, four more trading days left in 2015. The SPDR S&P 500 ETF (SPY) is in positive territory, however; these are those lowest returns seen since 2011.

In respect to news and events, there isn’t much on the table. In fact, there are no earnings this week and we only have a few economic releases. With that said, don’t expect much in the form of trading volume.

The VIX actually dropped nearly 5 points from last week, and is now sitting below 16.

Crude oil futures caught a small bounce during the week, however; prices are down a lot on the year. The United States Oil Fund (USO) is down more than 36% on the year.

Most traders will be taking this time to take a break from the markets. While others might spend their time reviewing their process, going over what worked, what didn’t, and what they can do to improve in 2016. If you’re still searching for your edge, we invite you to check out our training program. It was created by a team of industry recognized traders, aimed at helping those new (and even experienced) traders get the skills they need to compete in these ever changing markets.

Moving on.

Here’s what is on tap this coming week:

Key Economic Data:
29 December 2015- International Trade 8:30 AM ET
31 December 2015- Jobless Claims 8:30 AM ET

December 23, 2015 Market Wrap Up

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If there was any doubt about having a Santa Claus Rally, it was erased today. The S&P 500 is up nearly 3% over the last three trading sessions. With that said, we are no longer negative on the year.

Tomorrow the markets will be open till 1pm ET. It should be a slow day, but you never know what headline might come out and cause an individual stock or ETF to really start moving. But don’t hold your breath.

The VIX continues to see a big sell off, it’s now trading below 16.

Oil names caught a bounce, the United States Oil Fund (USO) was up nearly 5% today.

Stocks in play today included: Nike (NKE) -2.5% and Freeport-McMoran (FCX) +16%.

On the options front, we saw large call buying activity in China Finance Online Co. (JRJC). We also saw aggressive put buying in Irobot (IRBT).

Here’s what is going on for the rest of the week:

Key Economic Data:
24 December 2015- Jobless Claims 8:30 AM ET

December 22, 2015 Market Wrap Up

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The S&P 500 closed higher, making it two straight days now. With that said, it appears that the Santa Claus rally is back on. We’ve nearly regained all of Friday’s losses. However, don’t be surprised to see a slowdown in volumes as we approach the Christmas Holiday.

Not to mention, the VIX has seen a big sell off over the last two trading days, it’s now below 17.

Oil names caught a bounce, the United States Oil Fund (USO) was up about 1% today. However, we are still near the 52-week lows.

In after hours action, Nike (NKE) released earnings and the time of this post, the stock price is trading about 2% higher from the close. Micron also released, and the time of this post the stock price was trading 6% lower from the close.

On the options front, we saw large call buying activity in Graphic Packaging Company (GPK). We also saw massive put buyers in Encana Corporation (ECA).

Here’s what is going on for the rest of the week:

Key Economic Data:
23 December 2015- Durable Goods Orders 8:30 AM ET, Personal Income and Outlays 8:30 AM ET, New Home Sales 10:00 AM ET
24 December 2015- Jobless Claims 8:30 AM ET