2nd Trade Update July 19th, 2012 at 9:37am: With AXP down about 2.5% this morning at 56.90 I am closing the second half of the July 57.50/55 Put Spread at 1.45 for a triple. Action: …
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Trade Update July 18th, 2012: AXP reports Q2 earnings after the close and the options market is implying about a 3% move vs the 4 qtr average move of less than 1%. Oddly prior to …
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New Trade July 10th, 2012 at 2:28pm: Enis and I had been looking for ways to press the luxury retail short without pressing some of the individual names. AXP trading at a market multiple, with only 5% …
Continue readingInternational luxury demand is in danger. We’ve touched on the theme of international weakness multiple times in the past 2 months. Dan has used IBM and NKE put spreads to play international demand weakness. More …
Continue readingAt one point this morning, WFM was down about 4% on management comments from an investment conference that appeared to be guiding down 2012 sales from about 15% to 13%. Bloomberg Headlinies: 10:16am *WHOLE FOODS …
Continue readingWeakness in international stock and currency markets have been a concerning feature of the current market backdrop for a few months now. Today’s chart offers more confirmation of that trend, thanks to the Bespoke Investment Group: …
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TIF is getting clobbered today, down about 8.5% as the company reported Q1 earnings that missed consensus and lowered its full year guidance. While the reported results and lowered guidance were obviously a big disappointment, …
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GDP out and frankly in line with expectations at about 1%….so no cause for alarm, but reinforcing thoughts about a very stagnant to weak economy. Mr. Bernanke clearly had an early look at this number …
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For those looking for anything positive from today’s price action are very likely going to have to wait just a bit more………the truth is that they were doomed to fail with a 2% gap higher …
Continue readingYesterday was obviously a bloodbath for risk assets, and even-though the S&P futures are up 50bps as I write at 9.20am, Asia closed down across the board and Europe’s weakness is being led by the …
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