Stocks are looking a bit drowsy this week amid tepid economic data rolling in and while awaiting news of the Federal Reserve’s next policy moves. The headline-grabbing item today was the Conference Board reporting that its Consumer Confidence Index fell sharply in October, coming in at 71.2. That’s down from… Read More
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But while more QE would be broadly supportive of stocks, the market (using the S&P 500) is in need of a rest after having climbed in 11 of the 13 sessions prior to today’s trading, gaining 7 percent from its October 9 low in the process. And comments from the… Read More
With the Washington drama now in intermission, investor attention has returned to economic data, potential monetary policy changes, and the earnings season. The Labor Department reported on Tuesday that in September the U.S. booked a net gain of 148,000 jobs, far below the consensus expectation of 180,000. Read More
Carnival (CCL) has enjoyed a bit of a bounce along with the market. This is not all that surprising given the big decline the stock has experienced over the past month. Our indicators continue to point to the stock's vulnerability to further declines, which is why we’re holding on to… Read More
With little time to spare, on Wednesday the House Republicans relented and approved the bipartisan Senate bill to fund the government through January 15 and, more importantly, to temporarily suspend the debt ceiling through February 7. This means that the Treasury Department can for now borrow without regard to any… Read More
By all accounts, lawmakers are close to forging a deal to raise the debt ceiling limit and get the government operating at full speed once more – for another three months, anyway. Those steps are designed to give a bicameral budget committee time to hash out recommendations that can be… Read More
Yesterday we purchased the Carnival (CCL) January 32 put option in anticipation of a further decline in the beleaguered cruise line operator’s stock. It’s a buy up to $1.85 per contract if you don’t own it already. Earlier today, we added another bearish bet, picking up the Nike (NKE) January… Read More
Buy to open the Nike (NKE) January 72.50 put option. Use a limit order to pay no more than $3.20 per contract. Athletic footwear and apparel maker Nike (NKE) has raced ahead this year; it closed yesterday at an all-time high. The company, however, looks set to trip on… Read More
Buy to open the Carnival Corp. (CCL) January 32 put option. Use a limit order to pay no more than $1.85 per contract. The travel industry is likely to be one of the first casualties of the slowing economy. Within this group, cruise line operator Carnival Corp. (CCL) appears… Read More
With the October 17 debt-ceiling deadline fast approaching, yesterday House Budget Committee Chair (and former Vice Presidential candidate) Paul Ryan unveiled a stopgap budget proposal and debt deal to reopen government and buy the politicians another six weeks to generate a longer-term agreement. In essence, it would be little more… Read More