Futures Mixed

In After Hours Trading

IPOs on deck today Civitas Solutions, rEVO Biologics and Tokai Pharmaceuticals. Secondaries on deck today BKEP PETX SXL.

In After Hours Trading (Best to Worst absolute beats/misses [+.02 or greater/-.02 or worse]): ADBE +.02.

IPO Financial provides our capital raise data.

What’s Happening This Morning

US futures: S&P 500 +0.25, Dow Jones +6 and NDX -2.50 with fair values lower helping open losses be muted. Asia mixed and Europe higher. Copper and silver lower with gold higher. WTI Crude lower and Brent Oil Futures higher. Natural Gas is higher. $ is higher vs Euro, lower vs. Pound and higher vs. Yen. US 10 year Treasury yield -1. Prices as of 7:55 a.m.

Earnings Expected

Earnings due after the close (by market cap descending): CLC UNFI.

Due Wednesday morning (by market cap descending): CAG IHS RAD PWE.

Selling Polo Ralph Lauren (RL) For A Gain

We added Polo Ralph Lauren (RL) to the Morning Matters Portfolio in Superstock Investor on March 4th. Since then, it has risen by $10.79 or 6.67%. In the same period, the S&P 500 rose by the exact same amount. Meanwhile, the SPDR Consumer Discretionary Select Sector Fund (XLY) has risen 2.06%.

The XLY reflects the inability of the consumer to spend and that is a problem. Our theory for consumer spending is that you want to invest in either high end retailers because the rich just keep getting richer. The middle class and lower middle class are still struggling so owning the Wal-marts of the world is out for the time being.

So when we look at the chart it appears the $175 is solid resistance so it is time to move on. More to point, we have access to new data from Phil Erlanger Research that tracks how short sellers do stock by stock since 1993.

In the case of Polo Ralph Lauren (RL), they have gotten it right 71% of the time when short selling gets heavy, as defined by Erlanger. The average drop is -10.4%. Given this fact, it makes no sense to stick around when there is a 71% chance of a -10% drop.

It’s All About The Federal Reserve Today

At 2:00 p.m. EDT the Federal Reserve Open Market Committee (FOMC) comes down from the mountain to update investors on current policy and then Federal Reserve Chairman Yellen speaks at 2:30 p.m. EDT. Wall Street opinions about this update and future updates is wide which could surprise markets.

FOMC

Cease Fire In Question

This morning we awake to questions whether there is or is not a cease fire in Russia. Ukrainian President Poroshenko says there is a cease fire.

Cease Fire

Meanwhile, Russia has yet to confirm the cease fire. This is a developing story.

Nyet

Futures Higher On Potential Ukrainian Deal

September 3, 2014

In After Hours Trading

No IPOs on deck this week so far. No Secondaries on deck today.

In After Hours Trading (Best to Worst absolute beats/misses [+.02 or greater/-.02 or worse]): GWRE +.12.

IPO Financial provides our capital raise data.

What’s Happening This Morning

US futures: S&P 500 +6, Dow Jones +60 and NDX +12 with fair values lower helping gains. Asia and Europe higher. Copper lower with silver and gold higher. WTI Crude and Brent Oil Futures higher. Natural Gas is higher. $ is lower vs Euro, higher vs. Pound and lower vs. Yen. US 10 year Treasury yield +3. Prices as of 7:45 a.m.

Earnings Expected

Earnings due after the close (by market cap descending): PVH HRB.

Due Thursday morning (by market cap descending): MBLY JOY PAY.

Rags & Mags: Inside Wall Street

USA Today: Remains questionable whether Russia has agreed to cease fire. Dunkin Donuts (DNKN) westward expansion reviewed. Home Depot (HD) may have seen a massive data breach.

NY Times: Ukraine retracts claims of a cease fire with Russia. Halliburton (HAL) pays $1.1 billion to settle Gulf of Mexico claims. CVS Corp (CVS) stops selling tobacco products.

Market Matters: Futures Up Slightly

August 27, 2014

In After Hours Trading

No IPOs on deck this week so far. Secondaries on deck today MPAA. Tpyically, this is the lightest week of the year.

In After Hours Trading (Best to Worst absolute beats/misses [+.02 or greater/-.02 or worse]): HEI+.06, SLH-.10

IPO Financial provides our capital raise data.

What’s Happening This Morning

US futures: S&P 500 +0.50, Dow Jones +11 and NDX +1 with fair values lower helping gains. Asia and Europe mixed. Copper and silver lower and gold higher. WTI Crude and Brent Oil Futures higher. Natural Gas is higher. $ is lower vs Euro, lower vs. Pound and lower vs. Yen. US 10 year Treasury yield -2. Prices as of 7:30 a.m.

Earnings Expected

Earnings due after the close (by market cap descending): WDAY, WSM, BYI

Due Thursday morning (by market cap descending): TD, DG, PLL, SIG, COTY, ANF

Reported Earnings This Morning

Reported Earnings This Morning (Best to Worst absolute beats/misses [+.02 or greater/-.02 or worse]): SDRL+.52, TIF+.11, MIK+.06, DCI+.03, BF.B-.02.

$60 Trillion & IMF Scandal

Bloomberg reported this morning that the overall value of global equities has climbed above $66 trillion. Since August 7th low on the S&P 500, over $2.2 trillion has been added to the $66 trillion.

$66 Trillion

In other news IMF Head Christine Lagarde is under investigation in France for “murky business affairs” while France’s Finance Minister.

Lagarde

Tesoro (TSO)

Tesoro (TSO) has moved above its price target and looks toppy. We are selling this name in our Superstock Trader Morning Matters Portfolio Wednesday morning for a 17% gain since we recommended it on May 1st.
tso

Market Matters: Futures Flatish

In After Hours Trading

IPOs on tap this week but not today Aquinox Pharmaceuticals, Coupons.com and Recro Pharma. Secondaries on deck this morning APAM FEYE ICAD.

Reported after the close: AMBA +.07 ALOG -.03 COO +.01 BREW +.00 JMBA +.08 KFY +.09 NVTL -.08 PNY +.07 QIHU +.27 ZQK -.04 SKUL +.04 TFM -.04 THO -.02 WTI -.14 among others.

What’s Happening This Morning

US futures: S&P +1.25, Dow Jones +10 NDX +2 with fair value a tad higher with no impact on open. Asia lower ex Japan. Europe lower. Copper, silver and gold lower. WTI Crude and Brent Oil Futures higher. Natural Gas flat. $ is lower vs Euro, lower vs. Pound and lower vs. Yen. US 10 year Treasury yield -1. Prices as of 7:25 a.m. EST

Earnings Expected

No earnings due after the close. It’s Miller Time have a great weekend! 

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Index ETF Options Volume

oix daily

The rows in the options matrix are as follows:
  • Curr Vlm = Current Option Volume for today
  • OpVol20 = 20 day Option Volume average
  • % Delta (sorted descending) = Curr Vlm/ OpVol20 * 100
  • Sym = Symbol
  • 20 HV 100HV 252HV = 20 day, 100 Day and 252 Day Historical Volatility
  • Slope = The slope of the historic vol
  • Delta = Change in slope
  • cOptInt = Call Open Interest
  • pOptInt =Put Open Interest
  • cVolum = Call Volume
  • pVolum = Put Volume