Sentiment Options Recap – 11/18/2013

The Dow Jones Industrial Average clings to the 16,000 level, but overall market breadth is negative. 300 S&P stocks are lower and 190 are moving higher. Indeed, breadth has been deteriorating despite new highs on the Dow and S&P lately. Jason Goepfert, a very sharp market watcher, of the website sentimentrader, noted Friday that, “This [...]

November 18, 2013 | 0 Comments More Options Recap – 11/15/2013

It’s expiration Friday and the week is wrapping in quiet fashion. Early economic data showed NY Empire Index at -2.2 for November and well below expectations of 3.9. Industrial Production for October was -.1 and also below expectations. As has been the case throughout the week, the market didn’t budge on the poor data, as [...]

November 15, 2013 | 0 Comments More Options Recap – 11/14/12013

Stock market averages are again seeing late-day strength despite poor economic data and post-earnings weakness in Cisco (CSCO). A report released before the bell showed jobless claims falling by 2,000 to 339K , from an upwardly revised 341K. Economists were looking for 330K. Meanwhile, the Trade Balance was wider-than-expected for September and Q4 Productivity was [...]

November 14, 2013 | 0 Comments More Options Recap – 11/13/2013

Stock market averages reversed early losses and are holding gains late-Wednesday. Weakness overseas, including a 1.9 percent loss in the Hang Seng, set the table for the morning slide on Wall Street. With no economic data to guide investors, there wasn’t much to guide trading outside of corporate profit reports. Macy’s (M) is leading the [...]

November 13, 2013 | 0 Comments More Options Recap – 11/12/2013

Another day of aimless action. There’s no economic data to guide trading and earnings are mixed. Airlines were a bright spot after the DOJ settled a suit related to the AMR-US Airways merger – ensuring that all of us will continue to pay higher fares, get hit with more fees, and sit in smaller spaces, [...]

November 12, 2013 | 0 Comments More Options Recap – 11/11/2013

Market action is mixed heading into midday Monday. Volumes are light due to the Veteran’s Day holiday. The bond markets are closed. Equity markets were mostly higher across Asia and Europe after data over the weekend showed encouraging signs for China’s economy. No domestic data was released. Crude oil ticked a bit higher. Weakness in [...]

November 11, 2013 | 0 Comments More Options Recap – 11/08/2013

Stock market averages moved higher through midday and are holding the gains in afternoon trading Friday. The focus is on employment data after the Labor Department said the economy added 204K jobs in October, which was more than double the expected amount. On the one hand, I read one research note that said the data [...]

November 8, 2013 | 1 Comment More Options Recap – 11/7/2013

Several disconcerting stories seemed to be overlooked by the financial media because of the Twitter IPO. For instance, there are about a dozen stories on the front page of MarketWatch about Twitter, but not one about the system outage that halted trading in all OTC “pink sheet” stocks, including Freddie and Fannie shares. There hasn’t [...]

November 7, 2013 | 0 Comments More Options Recap – 11/06/2013

It’s interesting that the Dow is set to close at record highs, but NASDAQ is down 13. High beta names like small Caps (IWM) and biotechs (IBB) are also lower. The number of stocks hitting new 52-week highs is 277. When the Dow was hitting record highs a week ago (10/29), that number was 492. [...]

November 6, 2013 | 0 Comments More Options Recap – 11/05/2013

Trading has turned mixed heading into the final hour Tuesday. Sellers surfaced at the opening bell after a weak forecast for Eurozone growth sent stocks skidding overseas. Yet, the early sell-off was orderly heading into a better-than-expected reading on ISM Services for October. Although bonds are lower on the data and the ten-year yields 2.66 [...]

November 5, 2013 | 0 Comments More