We think the 1200 level could provide some resistance for the SPX and it won’t get too much easier above that level as the chart tells us we will have some difficulty working through congestion all the way up to the 1230 level.  To the downside we are watching the 1186 and then the 1170 level for support.

We are neutral going into this shortened week.

Weekly Economic Calendar:

Monday

• There are no major economic reports scheduled for Monday. Tyson Foods Inc. (TSN), Analog Devices Inc. (ADI), Brocade Communications Systems Inc. (BRCD), Focus Media Holding Limited (FMCN), Hewlett-Packard Company (HPQ), Jack in the Box Inc. (JACK), La-Z-Boy Inc. (LZB), and Pacific Sunwear of California Inc. (PSUN) will report earnings.

Tuesday

• The first revision of third-quarter gross domestic product is due Tuesday. The first estimate, released Oct. 29, showed subdued growth of 2%. In addition, the National Association of Realtors will report on existing home sales for October. Campbell Soup Company (CPB), Cracker Barrel Old Country Store Inc. (CBRL), Hormel Food Corp. (HRL), TiVO Inc. (TIVO), and Guess?, Inc. (GES) are scheduled to issue their quarterly reports.

Wednesday

• The Commerce Department will release its October figures for new home sales, durable goods orders, and personal income and spending, while the Labor Department will issue its weekly report on new jobless claims. Meanwhile, the University of Michigan will publish its final reading on consumer sentiment in November, and we’ll get the usual weekly report on crude inventories. Finally, the Fed will release the minutes of its Nov. 3 Federal Open Market Committee meeting. That meeting, at which the Fed voted to unleash QE2, the second round of monetary stimulus, has been pretty well chewed over, but we might learn some behind-the-scenes details of the debate. Scheduled to report earnings are Deere & Co. (DE) and Tiffany & Co. (TIF).

Thursday

• The market is closed for the Thanksgiving holiday on Thursday.

Friday

• There are no major economic reports scheduled for Friday. There are no major earnings reports scheduled for Friday.

New Trade Idea:

Buy Nordstrom (JWN) December 42 Call @ $1.75 or Better:

Nordstrom has been on a nice run lately but did pull back with the overall market.  We’ll use this pullback as an opportunity to add calls.  Use $4.50 as a target and we’ll use $0.75 as a mental stop-loss.

Buy Baidu (BIDU) December 110 Put @ $5.00 or Better:

Baidu has been in this consolidation range for a while now and we’ve been trading it pretty well.  We think that this consolidation could resolve itself to the downside.  Use  $8.00 as a target and $1.75 as a mental stop-loss.

Open Positions:

Oracle (ORCL) November 28 Call @ $0.90:

We hit our target and locked in a nice +83% profit.

Juniper Networks (JNPR) Nov 30 Calls @ $1.80:

Target hit for a 122% profit.

Goldman Sachs (GS) November 160 Calls @ $4.15:

Took a 69% profit on the calls.

Cree (CREE) November 55 Calls @ $1.65:

This play as stopped-out.

Wynn Resorts (WYNN) November 115 Calls @ $2.70:

We hit our target for a 100% profit.

American International Group (AIG) November 45 Calls @ $1.55:

This play was stopped out.

TEN Exclusive: Options Update – 11/21/10 is an article from:

A combination of events overseas, some earnings misses, the G20 Summit and just overall market exhaustion were behind last week’s selling.

Looking at the SPX, we simply didn’t have the buying interest to push us convincingly above the 1225 level, and that level should be viewed as resistance.  During September and October we saw accumulation from funds and money managers and we need that accumulation to resume as we head look towards year-end.  We think that we will see a decent ramp-up to close out 2010.

This week is expiration for the November cycle but we don’t envision it to be a particularly volatile one.  However, if we see more selling pressure early in the week we could see a somewhat significant slide in the indices.  That will be dictated by news from overseas and the performance of the U.S. dollar.  We will be watching to see if the 1190 support level for the SPX holds up.

We go into this week with a neutral stance.

Weekly Economic Calendar:

Monday

• The Commerce Department will report on October retail sales and September business inventories, while the Fed will release the Empire State Manufacturing Index for November. China Sunergy Co. Ltd. (CSUN), Diana Shipping Inc. (DSX), The Gymboree Corp. (GYMB), Lowe’s Companies Inc. (LOW), Nordstrom Inc. (JWN), and Urban Outfitters Inc. (URBN) will report earnings.

Tuesday

• The producer price index for October is due from the Labor Department, while the Fed will report on industrial production in October. Meanwhile, the National Association of Home Builders will publish its Market Housing Index for November, a measure of builder confidence. Abercrombie & Fitch Inc. (ANF), ArvinMeritor Inc. (ARM), Dick’s Sporting Goods Inc. (DKS), The Home Depot Inc. (HD), Saks Incorporated (SKS), The TJX Companies Inc. (TJX), Wal-Mart Stores Inc. (WMT), and SINA Corporation (SINA) are scheduled to issue their quarterly reports.

Wednesday

• The Labor Department will release the October consumer price index, while the Commerce Department will report on October housing starts. We’ll also get the usual weekly report on crude inventories. Scheduled to report earnings are BJ’s Wholesale Club Inc. (BJ), Chico’s FAS Inc. (CHS), Suntech Power Holdings Co. Ltd. (STP), Target Corp. (TGT), VanceInfo Technologies Inc. (VIT), Applied Materials Inc. (AMAT), Aruba Networks Inc. (ARUN), Hot Topic Inc. (HOTT), Limited Brands Inc. (LTD), NetApp Inc. (NTAP), NetEase.com Inc. (NTES), and PetSmart Inc. (PETM).

Thursday

• The weekly initial jobless claims report comes out on Thursday, along with the Conference Board’s leading indicators index for October and the Philadelphia Fed Index for November. American Eagle Outfitters (AEO), Canadian Solar Inc. (CSIQ), Children’s Place Retail Stores Inc. (PLCE), Dollar Tree Inc. (DLTR), GameStop Corp. (GME), The J.M. Smucker Company (SJM), Sears Holdings Corporation (SHLD), Staples Inc. (SPLS), Autodesk Inc. (ADSK), Dell Inc. (DELL), The Gap Inc. (GPS), Intuit Inc. (INTU), Marvell Technology Group Ltd. (MRVL), and salesforce.com inc. (CRM) will report earnings.

Friday

• There are no major economic reports scheduled for Friday. AnnTaylor Stores Corp. (ANN), H.J. Heinz Co. (HNZ), and Yingli Green Energy Holding Co. Ltd. (YGE) will report earnings.

New Trade Idea:

We will have new trade ideas on Wednesday.

Open Positions:

Oracle (ORCL) November 28 Call @ $0.90:

We hit our target and locked in a nice +83% profit.

Juniper Networks (JNPR) Nov 30 Calls @ $1.80:

Target hit for a 122% profit.

Goldman Sachs (GS) November 160 Calls @ $4.15:

Took a 69% profit on the calls.

Cree (CREE) November 55 Calls @ $1.65:

This play as stopped-out.

Wynn Resorts (WYNN) November 115 Calls @ $2.70:

We hit our target for a 100% profit.

American International Group (AIG) November 45 Calls @ $1.55:

This play was stopped out.

TEN Exclusive: Options Update – 11/14/10 is an article from:

Plenty of traders and money managers moved money to the sidelines fully expecting a “sell the news” reaction last week and that money will come back into this market as well.

We don’t think that we’re over extended yet and we remain bullish.  However keep in mind that we have come a long way in a short time and whenever that happens, sharp reversals and pullbacks become more likely.  Be sure to tighten your stops and look for opportunities to hedge your longs.

Weekly Economic Calendar:

Monday

• There are no major economic reports scheduled for Monday. Frontier Communications Corp. (FTR), Sysco Corp. (SYY), Warner Chilcott Plc (WCRX ), Clean Energy Fuels Corp. (CLNE), Clear Channel Outdoor Holdings Inc. (CCO), Convergys Corp. (CVG), Eagle Bulk Shipping Inc. (EGLE), LSK Solar Co. Ltd. (LDK), priceline.com Incorporated (PCLN), Silver Wheaton Corp. (SLW) and The Warnaco Group Inc. (WRC) will report earnings.

Tuesday

• The Commerce Department will report on September wholesale inventories. Ebix Inc. (EBIX), Fossil Inc. (FOSL), hhgregg Inc. (HGG), JA Solar Holdings Co. Ltd. (JASO), K12 Inc. (LRN), Solarfun Power Holdings Co. Ltd. (SOLF), Tyco International Ltd. (TYC), Starwood Property Trust Inc. (STWD), and URS Corp. (URS) are scheduled to issue their quarterly reports.

Wednesday

• We’ll get the usual weekly report on crude inventories, along with the September trade balance figures. Scheduled to report earnings are Maidenform Brands Inc. (MFB), Macy’s Inc. (M), Polo Ralph Lauren Corp. (RL), Sara Lee Corp. (SLE), and Cisco Systems Inc. (CSCO)

Thursday

• The weekly initial jobless claims report comes out on Thursday. Kohl’s Corp. (KSS), Tim Hortons Inc. (THI), NVIDIA Corp (NVDA), SunPower Corporation (SPWRA) and The Walt Disney Company (DIS) will report earnings.

Friday

• The University of Michigan will deliver its first reading on consumer sentiment during November. Agilent Technologies Inc. (A), D.R. Horton Inc. (DHI), J.C. Penney Company Inc. (JCP) and Wendy’s Arby’s Group Inc. (WEN) will report earnings.

New Trade Idea:

Buy Cree (CREE) November 55 Calls @ $1.65 or Better:

CREE made a nice move last week getting above both 10 and 20 day-moving averages and looks poised to move higher from here.  Use $2.80 as a target and $.90 as a mental stop-loss.

Buy Wynn Resorts (WYNN) November 115 Calls @ $2.70 or Better:

The gaming sector remains hot and WYNN should be a leader going forward.  Use $2.80 as a target and $1.55 as a mental stop-loss.

Buy American International Group (AIG) November 45 Calls @ $1.55 or Better:

The financial sector took advantage of last week’s market to make strong moves higher and AIG was a leader.  We think we’ll the strong action continue form here and we’ll use $2.15 as a target and $.65 as a mental stop-loss.

Open Positions:

Oracle (ORCL) November 28 Call @ $0.90:

We hit our target and locked in a nice +83% profit.

Juniper Networks (JNPR) Nov 30 Calls @ $1.80:

Target hit for a 122% profit.

Goldman Sachs (GS) November 160 Calls @ $4.15:

Took a 69% profit on the calls.

TEN Exclusive: Options Update – 11/7/10 is an article from:

Basically we spent the week in a wait and see pattern and we expect that Monday and possibly Tuesday will bring the same.  There is certainly an air of cautiousness in the markets now, but barring any major disappointments from the elections or the Fed, we suspect this rally will resume in some fashion.  We may not get a rip-roaring move higher immediately, but we think we will see a rally over the last two months of 2010.

It doesn’t make much sense to blindly take on risk here, ahead of two big market moving events this week.  However, we do think it makes sense to hold some calls on some sector leaders.

We remain bullish but prepared to change course quickly should the market be disappointed this week.  We expect to see the SPX test the 1200 level by the end of the week.

Weekly Economic Calendar:

Monday

• The Commerce Department will report on personal income and spending construction spending in September, while the Institute for Supply Management (ISM) will issue its October manufacturing index. Allergan Inc. (AGN), Cooper Tire & Rubber Co. (CTB), Corning Incorporated (GLW), Humana Inc. (HUM), Intercontinental Exchange Inc. (ICE), Loews Corp. (L), American Financial Group (AFG), Anadarko Petroleum Corp. (APC), and Evergreen Solar Inc. (ESLR) will report earnings.

Tuesday

• There no major economic reports scheduled for Tuesday, which is also election day. Archer Daniels Midland Co. (ADM), The Clorox Co. (CLX), DineEquity Inc. (DIN), Dollar Thrifty Automotive Group Inc. (DTG), Kellogg Company (K), Marathon Oil Corp. (MRO), MasterCard Inc. (MA), Newmont Mining Corp. (NEM), Pfizer Inc. (PFE), The St. Joe Company (JOE), Tenet Healthcare Corp. (THC), Teva Pharmaceutical Industries Ltd. (TEVA), Career Education Corp. (CECO), Hartford Financial Services (HIG), Leap Wireless International Inc. (LEAP), OpenTable Inc. (OPEN), STEC Inc. (STEC), and Wynn Resorts Limited (WYNN) are scheduled to issue their quarterly reports.

Wednesday

• The big news on Wednesday will likely be the decision of the Federal Open Market Committee. It’s widely anticipated that the Fed will launch another round of quantitative easing. We’ll also get the ISM services index for October, reports on auto sales in October and factory orders in September, and the usual weekly report on U.S. petroleum supplies. ADP will weigh in with employment numbers in the private sector. Scheduled to report earnings are Aetna Inc. (AET), Agrium Inc. (AGU), Alpha Natural Resources Inc. (ANR), AOL Inc. (AOL), CVS Caremark Corp. (CVS), Hyatt Hotels Corp. (H), Molson Coors Brewing Co. (TAP), PulteGroup Inc. (PHM), Qwest Communications International Inc. (Q), Time Warner Inc. (TWX), TRW Automotive Holdings Corp. (TRW), WellPoint Inc. (WLP), Westlake Chemical Corp. (WLK), Force Protection Inc. (FRPT), Genco Shipping & Trading Limited (GNK), General Cable Corp. (BGC), Overstock.com Inc. (OSTK), Prudential Financial Inc. (PRU), QUALCOMM Inc. (QCOM), WebMD Health Corp. (WBMD), Whole Foods Market Inc. (WFMI), and Yamana Gold Inc. (AUY).

Thursday

• The weekly initial jobless claims report comes out on Thursday. DIRECTV (DTV), Frontier Oil Corp. (FTO), Fuel Systems Solutions Inc. (FSYS), Liz Claiborne Inc. (LIZ), PG&E Corp. (PCG), Sirius XM Radio Inc. (SIRI), Suncor Energy Inc. (SU), Time Warner Cable Inc. (TWC), Activision Blizzard Inc. (ATVI), bebe stores inc. (BEBE), Blue Nile Inc. (NILE), CF Industries Holdings Inc. (CF), Crocs Inc. (CROX), Isis Pharmaceuticals Inc. (ISIS), Kraft Foods Inc. (KFT), SandRidge Energy Inc. (SD), and Starbucks Corp. (SBUX), will report earnings.

Friday

• Nonfarm payrolls and the unemployment figures for October will be released on Friday. Beazer Homes USA Inc. (BZH), Coventry Health Care Inc. (CVH), DISH Network Corp. (DISH) and Plains Exploration & Production Co. (PXP) will report earnings.

New Trade Idea:

No new trades.  It doesn’t make sense to take on risk ahead of the mid-term elections and possible FOMC action.

Open Positions:

Oracle (ORCL) November 28 Call @ $0.90:

We hit our target and locked in a nice +83% profit.

Juniper Networks (JNPR) Nov 30 Calls @ $1.80:

Continue to hold.  Use $4.00 as a target and $.90 as a mental stop loss.

Goldman Sachs (GS) November 160 Calls @ $4.15:

Continue to hold.  Use $7.00 as a target and $2.50 as a mental stop-loss.

TEN Exclusive: Options Update – 10/31/10 is an article from:

We have seen support on the SPX around the 1172 level tested a few times this week and each time the level has held and the market has bounced.  We certainly feel more comfortable when we’re testing resistance rather than support.  We think that we will remain in this trading range between 1170 and 1185 until the mid-term elections pass next week and until we hear more definite plans form the Fed.

We remain bullish but we will lighten up on our calls and we will be prepared to be nimble over the next week.

Weekly Economic Calendar:

Thursday

• The Labor Department will release the weekly new jobless claims figures. Meanwhile, 3M Company (MMM), Avon Products Inc. (AVP), Colgate-Palmolive Co. (CL), Exxon Mobil Corp. (XOM), Motorola Inc. (MOT), Potash Corp. of Saskatchewan Inc. (POT), and Microsoft Corp. (MSFT) will report earnings.

Friday

• We round out the week with an advance look at third-quarter gross domestic product, October’s Chicago purchasing managers’ index, and the final reading for the October University of Michigan consumer sentiment index. Arch Coal Inc. (ACI), Chevron Corp. (CVX), The Estee Lauder Companies Inc. (EL), Merck & Co. Inc. (MRK), and Sony Corp. (SNE) will report earnings.

New Trade Idea:

Buy Goldman Sachs (GS) November 160 Calls @ $4.15 or Better:

Goldman managed to secure a close above $160 today and we think this is the beginning of a breakout from this recent consolidation.  Use $7.00 as a target and $2.50 as a mental stop-loss.

Open Positions:

Oracle (ORCL) November 28 Call @ $0.90:

Continue to hold.   Use $1.65 as a target and $0.45 as a mental stop-loss.

Buffalo Wild Wings (BWLD) November 50 Call @ $2.30:

This position has been closed.

Juniper Networks (JNPR) Nov 30 Calls @ $1.80:

Continue to hold.  Use $4.00 as a target and $.90 as a mental stop loss.

Broadcom (BRCM) November 37 Calls @ $2.10:

Target hit for a +67% profit!!

TEN Exclusive: Options Update – 10/27/10 is an article from: