Wal-Mart has been on a tear for the past 18 months, rallying from $50 to $80 in that period. In relative terms, in a raging bull trend, that might not be a huge move, but considering that WMT stock … [Read more...]
Too Many Options – $CSCO, $YHOO, $EMC
7:38 pm EDT - May 16, 2013 By Enis
Tech dominated volumes today, with CSCO leading the way after a big beat. CSCO - May calls dominated volumes, with the weekly 24 strike call the most active single stock option in the market … [Read more...]
Chart of the Day – $KKD Krispy Kreme For Talking Numbers
2:37 pm EDT - May 16, 2013 By Enis
Here’s a preview of what I’ll be discussing on Talking Numbers today between 3:20 and 3:30 pm EST on CNBC: Krispy Kreme has risen from the dead in the past year, after being in the doldrums for … [Read more...]
Vol Around the World – Commodity and Currency Volatility Now Above Average
1:13 pm EDT - May 16, 2013 By Enis
Volatility in all asset classes has ticked up in the past week, but the real movement has been outside of the stock world. I discussed in yesterday's VIX Snapshot some potential reasons why equity … [Read more...]
New Trade $FXC – Strange Brew
11:53 am EDT - May 16, 2013 By Enis
I posted my long-form thoughts on the dollar in my macro wrap yesterday. I cited 3 key reasons why I expected dollar strength: Rates Have Converged to 0. Would you rather earn 3-4% with your … [Read more...]
Macro Wrap – How Cheap is Japan?
8:00 am EDT - May 16, 2013 By Enis
I have never traded a single share of Japanese stocks. My knowledge in the stock market there is as an interested financial market observer, but with no illusions about my significant deficiency in … [Read more...]
Too Many Options – $AAPL, $ABX, $BAC, $CSCO
8:07 pm EDT - May 15, 2013 By Enis
A few names dominated option volumes. AAPL - Stock broke through its 50 day ma on its largest volume day in the stock since April 26th. The call to put ratio was down to 1.1, near the lows of … [Read more...]
New Trade $AMZN – Stuck in the Mud
We like to call AMZN the best Not-For-Profit company in the world. It has held that title for more than a decade, and has continued to be one of the best performing stocks nonetheless. So it … [Read more...]
New Trade $VIX – Long VIX To Play Heightened Emotions
2:27 pm EDT - May 15, 2013 By Enis
New Trade May 15, 2013: I just wrote about the VIX in my Snapshot post from today, included below. I also traded a VIX structure last month, targeting May VIX, which I plan to leave on for now, but … [Read more...]
$VIX Futures Snapshot – VIX Higher with SPX Higher
1:54 pm EDT - May 15, 2013 By Enis
I've received many questions in the past 24 hours about why the VIX is going up even as the SPX index continues to make new all-time highs. Here is what I wrote last month in my VIX trade post about … [Read more...]
Trade $JCP – Taking Profits Ahead of Earnings And At Technical Resistance
11:19 am EDT - May 15, 2013 By Enis
Trade Update May 15, 2013: JCP is up 8% so far this week as the stock rallies ahead of its earnings event tomorrow. My target for the upside was in the 19.50-20 area, which is where JCP started the … [Read more...]
Macro Wrap – Seismic Shift in the U.S. Dollar
6:53 am EDT - May 15, 2013 By Enis
I mentioned in my wrap on Friday that the dollar was close to a long-term breakout. I'm writing about the dollar again because I think we are close to a seismic shift. After more than a decade of … [Read more...]
Too Many Options – $TSLA, $AAPL, $SODA
5:19 pm EDT - May 14, 2013 By Enis
SPX now up 8 of the last 9 days, and TSLA is the new golden boy of the options market. TSLA - Rapidly becoming one of the most active names in the single stock options market, rivaling AAPL in … [Read more...]
New Trade $FDX – Magic Number 100
1:55 pm EDT - May 14, 2013 By Enis
Fedex got off to a rapid start in 2013, zooming 20% higher in the first quarter, but it has since given up half of those gains, and is only up 10% on the year, underperforming the S&P 500. … [Read more...]
Trade Update $FXA – Closing Put for a Triple
1:20 pm EDT - May 14, 2013 By Enis
The Aussie Dollar is on its longest daily losing streak in 8 years, and it's fast approaching the important long-term support area around 0.98-0.9850, so I'm taking my profits here. My FXA June 99 … [Read more...]
Macro Wrap – How Expensive are Staples and Utilities, $XLP, $XLU?
I did a detailed run through of the largest health care names in my macro wrap earlier this week. My main conclusion was that health care is not overvalued as a sector, but the staid, dividend … [Read more...]