Back on July 3rd, when INTC was ~$26.80, I bought a tight $1 wide Put Spread to express a near term bearish view as the company approached their Q2 earnings event. The stock sold off prior to the … [Read more...]
New Trade INTC: Revisiting Near Term Bearish Thesis, Despite the Stock’s Defensive Appearance
3:12 pm EDT - August 1, 2012 By Dan
New Trade – AMZN: Calendar Spread looks Prime
1:20 pm EDT - July 26, 2012 By Enis
New Trade July 26th, 2012 at 1:20pm: My view on the stock is similar to Dan's comments in the preview below. I think AMZN is a great company, but am less optimistic about the stock, particularly … [Read more...]
New Trade INTC: With Bearish Conviction Tempered, For Now, Put Calendars Make Sense
2:17 pm EDT - July 17, 2012 By Dan
INTC reports Q2 earnings tonight after the close. The options market is implying about a 5% move which is fairly rich to the average move over the last 4 qtrs of about 2.28%. Two weeks ago when … [Read more...]
Trade Update INTC: Closing 2nd Half July Put Spread for Almost 4x What I Paid
9:55 am EDT - July 12, 2012 By Dan
Trade Update July 12th, 2012 at 9:55am: With INTC down about 7.5% since initiating this tight $1 wide July put spread last week, and then selling half Tuesday for more than a double I am going … [Read more...]
Trade Update INTC: Closing Half July Put Spread for More Than a Double
11:13 am EDT - July 10, 2012 By Dan
Trade Update July 10th, 2012 at 11:14am: AMD pre-announced weaker revenues for the second quarter last night and the stock is down about 10% this morning citing weaker Chinese and European … [Read more...]
New Trade INTC: Tablet Cannibalization is Coming, Some Chip Makers May Be Left Out in the Cold
12:54 pm EDT - July 3, 2012 By Dan
When INTC reported their Q1 results in mid April the company guided down for Q2, specifically, gross margins from 64% to about 62%. Company kept their guidance in place for the balance of the year, … [Read more...]
MorningWord 6/13/12: U.S. Joins the Global Downturn?
9:15 am EDT - June 13, 2012 By Enis
MorningWord: 6/13/12: The U.S. data this morning will amplify the arguments for monetary easing from the Fed at the FOMC next week. Given that Ben was reluctant to prepare the market for QE3 in his … [Read more...]
MorningWord 6/12/12: Bazookas and Bozos
9:15 am EDT - June 12, 2012 By Dan
MorningWord: 6/12/12: This is the chart that is freaking everyone out......and obviously not the intended result of the Spanish leaders requesting aid to shore up their financial system. The Spanish … [Read more...]
MorningWord 6/11/12: Let the Bailouts Begin – Euro Edition
9:10 am EDT - June 11, 2012 By Dan
MorningWord: 6/11/12: Taking a page from the U.S. Treasury's 2008/2009 playbook, Europe now enters their own bank bailout program. Obviously this does not come as a huge surprise as it was … [Read more...]
MorningWord 6/8/12: The Word on the Ground
4:50 am EDT - June 8, 2012 By Dan
MorningWord: 6/8/12: A couple quick comments before I head out to catch the ferry to do a little field work on a 24 hour fact-finding mission to Macau......yes I know sounds rough, but I ensure … [Read more...]
MorningWord 6/7/12: Dim Sum and Smart-Phones
4:19 am EDT - June 7, 2012 By Dan
MorningWord: 6/7/12: I am in Hong Kong, and well, you are not, so I am going to make a couple observations from my first 24 hrs in the city about 2 things near and dear to me, dumplings and iPhones. … [Read more...]
MorningWord 6/6/12: Central Bank Watch Party
9:25 am EDT - June 6, 2012 By Enis
MorningWord: 6/6/12: Dan is halfway across the world in Hong Kong for the next few days, and I hope he comes back with some insight into whether the China slowdown story is real or irrational fear. … [Read more...]
MorningWord 6/5/12: Coordinated Action
7:32 am EDT - June 5, 2012 By Dan
MorningWord: 6/5/12: So what now you may ask? After Friday's jobs report put the nail in the coffin for those expecting the U.S. economy to "de-couple" from the woes in Europe, and the apparently … [Read more...]
MorningWord 6/4/12: Shanghai Surprise
9:11 am EDT - June 4, 2012 By Dan
MorningWord: 6/4/12: It's been a fairly eventful 16 hours, as Asian equity markets had a little catching up to do with Friday's weakness in Europe and here in the U.S. One of the hardest … [Read more...]
MorningWord 6/1/12: De-Couple This
9:15 am EDT - June 1, 2012 By Dan
MorningWord: 6/1/12: This morning's weak U.S. jobs data should be the nail in the coffin for those who think the U.S. economy had the potential to "De-Couple" from the near recessionary environment in … [Read more...]
MorningWord 6/14/12: Crisis Fatigue?
MorningWord: 6/14/12: Please Check out Enis's "Macro Wrap" which will be a fixture every morning on the site. As for this morning, things are fairly quiet as of 9:15am, European equities are … [Read more...]