Given the possibility for a sharp move in either direction, we’re standing pat while awaiting the press release that will be issued after the Federal Reserve’s policy meeting is concluded. We closed out the Transocean January 52.50 call option for a 23 percent loss after the US government reaffirmed… Read More
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Analyst Articles
Sell to close the Transocean (RIG) January 52.50 call option at the market. Transocean (RIG) is under pressure following the US Department of Justice’s announcement that it plans to purse charges against BP and Transocean for the massive 2010 oil spill in the Gulf of Mexico, citing gross negligence. Transocean operated the Macondo oil rig. As a result, the stock is likely to be “dead money” for a time. Sell. Read More
With Jackson Hole now in the collective rearview mirror, traders are looking toward Europe, where central bankers remain in the spotlight. The European Central Bank’s policy makers will gather next week to discuss what they’ll do next. Ahead of that meeting, ECB president Mario Draghi is mulling buying two-… Read More
Should the Fed come out with an open-ended bond-buying plan, gold will go crazy on the upside. Our metals stocks and ETF all appear to have put in important bottoms and we rate each as a buy for new clients: NovaGold Resources (NG), NovaCopper (NCQ), Market Vectors Gold Miners ETF… Read More
Buy to open the Lexmark (LXK) January 22 put option. Use a limit order to pay no more than $3.10 per contract. Shares of Lexmark (LXK) are soaring this morning after the ailing company announced restructuring plans that include laying off 1,700 employees and halting the production of inkjet printers. Read More
Sell to close the Autodesk (ADSK) October 35 put option at the market. Yesterday after the close software maker Autodesk (ADSK) reported its quarterly results. The company came light of expectations on both the top and bottom line. Moreover, management announced a restructuring plan while offering dismal third-quarter guidance… Read More
It’s tempting to trot out last week’s market update once again, as little has changed with our outlook since then. Our market indicators remain favorable, suggesting that stocks are heading higher. We’re particularly encouraged by the positive relative performance from economically sensitive stocks such as materials, industrials and energy. This… Read More
On Friday we closed out the Autodesk (ADSK) October 35 put option at a hefty profit after the stock plunged on a terrible profit report. However, in our haste to get the trade recommendation into your hands and due to fast-moving market conditions, we overstated the position’s return. In the… Read More
Never short a dull market, as the saying goes. Stocks have climbed to four-year highs on trading that could be described as quiet as a church mouse. Volume has picked up a little from last week but it continues to run at levels that would normally be considered light even… Read More
Among our trading positions, we took a bad beat on our Staples (SPLS) December 13 call option last week after the company reported disappoint results and guidance. Today we added a new long position, buying the Transocean (RIG) January 52.50 call option. It’s a buy up to $3.15 per contract. Read More