Posts Tagged ‘ING’

Monday Market Momentum – Down is the New Up

FXY WEEKLY Thank goodness the US is closed! 

Europe is down a whopping 3.5% (so far) this morning, opening in free fall after Asia opened down about 2% on the average (but finishing at the day’s lows).  Gold flew up to $1,906 before calming down but oil is down to $84.82 at 6:45 am as the Dollar tests it’s highs of 75.15 on the Euro’s fall to $1.41 and the Pound testing $1.61.  Any thoughts that the BOJ was done manipulating the Yen are now officially out the window as the Dollar/Yen is STILL 76.80 (around 128.50 on FXY), the same place it’s been since August 8th! 

When the World’s 3rd largest economy is manipulating it’s currency on a daily basis, of course the Global markets are going to be thrown into chaos.  Every day the BOJ tries to debase their currency they must buy other currencies or foreign stocks or gold or silver or oil – ANYTHING BUT YEN to make the Yen less valuable as compared to another relative basis.  

Even so, it’s not working and Japan’s new finance minister said this morning that he will try to forge a consensus among the Group of Seven leading industrialized countries that "excessive yen rises" won’t benefit the world economy when finance officials meet in France later this week.  "I am hoping to see us develop a common view that excessive yen rises, as shown by facts and processes in the past, do not necessarily have a positive impact on the global economy," Mr. Azumi told reporters, referring to Friday’s planned meeting of G-7 finance ministers and central bank chiefs in Marseille, France.  "At this exchange rate, it is becoming impossible for crucial parts of Japan’s export industry to make profits," he said.

BCS WEEKLY Asian shares were already following US financials downhill on overblown fears of the FHFA lawsuit (see FHFA Friday).  I say overblown because the first bank sued, ING, already settled for .20 on the Dollar so banks are reacting as if they already lost $30Bn when it’s much more likely this will all get washed away for $6Bn, or about 2 day’s worth of profits (4%).  We’ve already seen the banking community write down over $1Tn in losses and survive to screw us over another day – do we really think this little wrist-slap will end them or is this just another example of retail suckers
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Options Player Eyes ING Upside Potential, Employs Bullish Ratio risk reversal

 Today’s tickers: ING, TMRK, BA, JPM, PRGO, ADP & CPB

ING - ING Groep N.V. – The Amsterdam-based financial services firm popped up on our scanners in the second half of the trading session after one bullish options trader populated the April 2011 contract with a bullish ratio risk reversal strategy. ING’s shares are up 3.35% to trade at $11.14 as of 2:35 pm in New York. The investor utilized 10,800 option contracts to take a bullish stance on the stock, which is sizeable in relation to the 15,233 lots of overall previously existing open interest. The trader sold 3,600 puts at the April 2011 $11 strike at a premium of $1.20 each in order to buy 7,200 calls at the higher April 2011 $13 strike for a premium of $0.55 apiece. The bullish player pockets a net credit of $0.10 per contract on the transaction, and keeps the full amount of premium received as long as ING’s shares exceed $11.00 through April expiration. Additional profits start to accumulate if the price of the underlying stock jumps 16.7% over the current price of $11.14 to surpass the effective breakeven point at $13.00 by expiration day. Shares in ING Groep last traded above $13.00 back on November 24, 2009. ING is slated to report third-quarter earnings ahead of the opening bell on November 10, 2010. The overall reading of options implied volatility on ING is down 4.8% to stand at 39.89% as of 2:45 pm.

TMRK - Terremark Worldwide, Inc. – Shares of the provider of managed IT infrastructure services shot up as much as 13.9% during the session to hit an intraday- and new 52-week high of $11.12. Terremark posted a narrower-than-expected second-quarter loss of $0.12 per share yesterday evening and raised its fiscal 2011 sales view and guidance for the third quarter. The sharp rally in the price of the underlying shares and the firm’s improved outlook going forward inspired one cautiously optimistic options strategist to initiate a delta neutral hedge. It looks like the…
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Testy Tuesday Morning – Big Data Day

Busy, busy today with lots of data! 

At the moment (8am), I only know that retail sales were flat to last week, which was 1% better than last year but this week is 3.3% better than last year because LAST YEAR TOTALLY SUCKED!  That’s right, we are now comping to numbers that are so atrocious that in order to miss them we would have to all dig holes in our backyards, cover them with tarps (no, not the bailout package but a good conceptual image) and drink only rainwater and eat earthworms.  Anything better than that will give us more economic activity than we had last November, when the market was completing a 50% dive off the previous year’s highs and we weren’t sure there was going to anything to be thankful for on November 27th

Our market hit rock bottom on November 21st, the Friday before Thanksgiving (and an option expiration day) at about 7,500 on the Dow.  People were generally shell-shocked but we did bounce back to 8,500 and drifted around there through Jan 1st (9,000) before plunging to 6,500 by March 9th.  THAT my friends, is the period we are comping against!  So beware "improvements" being sighted in the MSM as we are now comparing our weak recovery to a total train wreck and yes, it’s much better now, but better in the way that the Chicago Bears (4-6) are better than the Detroit Lions (2-8), not the way the Minnesota Vikings (9-1) are better than the Lions.

Later today we have an update (and downgrade) of our Q3 GDP followed by Redbook Chain Store Sales and Case-Shiller Home Prices at 9.  At 10 we get Consumer Confidence (or lack thereof), the FHFA Housing Price Index, the Richmond Fed Report and State Street’s Investor Confidence Index.  Later today we have the results of a massive $39Bn 3-year Note Auction, the Fed Minutes at 2pm along with Industry Charge-offs and, finally, at 5pm we get the ABC Consumer Confidence (if any) Index. 

It’s a very brave bunch of bulls who have run the futures up half a point off their lows this morning with all that data coming up.  When I say brave of course, I mean the disgustingly manipulative and should be thrown in jail kind of brave but, since none of our regulators seem to care about the nonsense that goes on every day at the commodity and futures exchanges – I guess they are
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All-Time High for Amazon has Option Traders Raising the Bar

Today’s tickers: AMZN, MU, ETH, AMR, WYN, TBT, BAC, PCS, DE, ING, RSH & BCRX

AMZN – Amazon.com, Inc. – Shares of the online retailer surged to an all-time high of $125.44 during the trading session. Investors exchanged approximately 241,000 option contracts on AMZN by 3:00 pm (EDT), which represents about 41% of the total existing open interest on the stock of 591,993 lots. Bullish investors expecting Amazon to rally even higher purchased 7,000 calls at the November 135 strike for an average premium of 1.84 apiece. Optimism spread to the higher November 140 strike where 2,800 calls were picked up for 1.05 each. Super bullish traders looked to the highest available strike price in the front month – the November 150 strike – to purchase 1,000 calls for an average premium of 31 cents per contract. Shares of Amazon.com rallied 36% to reach today’s intraday high of $125.44, climbing up from an intra-week low of $91.98 on Thursday October 22, 2009. Investors holding calls at the November 135 strike will profit by expiration if shares of AMZN gain 9% over the high of $125.44 to breach the breakeven price of $136.84. Finally, near-term put options were also in demand by investors looking to lock in gains enjoyed during Amazon’s recent run-up. Traders shelled out an average of 6.92 per contract to buy 3,100 puts at the November 125 strike.

MU – Micron Technology, Inc. – Option traders invested in April contract call options on the semiconductor manufacturer despite the 0.5% decline in shares to $7.41. It appears some 9,200 calls were purchased by MU-optimists at the April 8.0 strike for an average premium of 1.08 per contract. Call-buyers apparently expect shares to rally significantly within the next six months. Investors holding the call options will profit by expiration if shares of MU rally at least 22.5% to the breakeven point at $9.08.

ETH – Ethan Allen Interiors, Inc. – Home-furnishings retailer, Ethan Allen, experienced a more than 14% decline in shares today to $14.30 after the firm forecast a wider-than-expected loss of 21-23 cents for the first quarter. Analysts predicted an 8 cents per share loss before the firm lowered guidance last week. Long-term downside protection is in demand as traders picked up some 5,500 puts at the May 12.5 strike for an average premium of 1.76 apiece. Investors holding long positions in the underlying stock will find protection…
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Zero Hedge

"Tool Of Terror": This Killer Opioid Could Be Used As "Weapon Of Mass Destruction"

Courtesy of ZeroHedge. View original post here.

Fentanyl is so powerful that a few milligrams can be fatal. It would take about 40 pounds of fentanyl to kill everyone in New York City and 1,515 pounds to kill almost all Americans. This killer opioid is so potent, according to Bloomberg it could be used as a "weapon of mass destruction," adding that national security experts are becoming increasingly alarmed at the prospect of it being used in the next terror attack.

A sil...



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Kimble Charting Solutions

Regional Banks About To Send Important Message!

Courtesy of Chris Kimble.

Large and Regional banks have struggled this year, as both indices have declined nearly 15% in 2018.  These declines have taken place as interest rates have been moving higher, which historically is positive for banks.

The declines of late in Regional Bank ETF (KRE) has it testing 7-year rising support as well as the 2007 highs at (1).

The Power of the Pattern is of the opinion, what KRE does at (1), will send an important message to the banking industry and the broad markets.

Keep a close eye on KRE in the weeks ahead friends, this looks to be an important test of support!...



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Phil's Favorites

Walmart Testing Flippy The Job-Stealing Robot Cook

Courtesy of Zero Hedge

Walmart is testing out a new kitchen robot assistant named "Flippy" at its Bentonville, Arkansas headquarters in order to see if it might make for a valuable team member in its in-store delis, according to Yahoo! Finance

While Flippy had somewhat of a rocky start at a Pa...



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Insider Scoop

52 Biggest Movers From Yesterday

Courtesy of Benzinga.

Gainers
  • Sparton Corporation (NYSE: SPA) shares climbed 39.63 percent to close at $18.32 on Wednesday after the company agreed to be purchased by Cerberus at $18.50 per share in cash.
  • Astrotech Corp (NASDAQ: ASTC) shares gained 26.87 percent to close at $3.40 after the company's subsidiary, 1st Detect, announced its TRACER 1000 explosives trace detector passed the European Civil Aviation Conference's common evaluation conference.
  • LexinFintech Holdings Ltd. (NASDAQ: LX) climbed...


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Biotech

Those designer babies everyone is freaking out about - it's not likely to happen

Reminder: We're available to chat with Members, comments are found below each post.

 

Those designer babies everyone is freaking out about – it's not likely to happen

Babies to order. Andrew crotty/Shutterstock.com

Courtesy A Cecile JW Janssens, Emory University

When Adam Nash was still an embryo, living in a dish in the lab, scientists tested his DNA to make sure it was free of ...



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Members' Corner

Blue Wave with Cheri Jacobus (Q&A II, Updated)

By Ilene at Phil's Stock World

Cheri Jacobus is a widely known political consultant, pundit, writer and outspoken former Republican and frequent guest on CNN, MSNBC, FOX News, CBS.com, CNBC and C-Span. Cheri shares her thoughts on the political landscape with us in a follow up to our August interview.

Updated 12-10-18

Ilene: What do you think about Michael Cohen's claim that the Trump Organization's discussions with high-level Russian officials about a deal for Trump Tower Moscow continued into June 2016?

...

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Digital Currencies

How low will Bitcoin now go? The history of price bubbles provides some clues

 

How low will Bitcoin now go? The history of price bubbles provides some clues

The Bitcoin bubble is perhaps the most extreme speculative bubble since the late 19th century. Shutterstock

Courtesy of Lee Smales, University of Western Australia

Nearly 170 years before the invention of Bitcoin, the journalist Charles Mackay noted the way whole communities could “fix their minds upon one object and go mad in its pursuit”. Millions of people, he wrote, “become simultaneously impressed with one delusion, and run after it, till their attention is caught by some new folly more captivating than the first”.

His book ...



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Chart School

Weekly Market Recap Dec 09, 2018

Courtesy of Blain.

Bears are certainly showing the type of strength we haven’t seen in a long time.   A week ago at this time futures were surging on news of a “truce” for 90 days between China and the U.S. in their trade spat.  But the charts were still not saying lovely things despite a major rally the week prior.   And by Tuesday, darkness had descended back on the indexes, with another gut punch Friday.    A lot of emphasis was put on a long term Treasury yield dropping below a shorter term Treasury.

On Monday, the yield on five year government debt slid below the yield on three year debt, a phenomenon which has p...



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Mapping The Market

Trump: "I Won't Be Here" When It Blows Up

By Jean-Luc

Maybe we should simply try him for treason right now:

Trump on Coming Debt Crisis: ‘I Won’t Be Here’ When It Blows Up

The president thinks the balancing of the nation’s books is going to, ultimately, be a future president’s problem.

By Asawin Suebsaeng and Lachlan Markay, Daily Beast

The friction came to a head in early 2017 when senior officials offered Trump charts and graphics laying out the numbers and showing a “hockey stick” spike in the nationa...



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ValueWalk

Vilas Fund Up 55% In Q3; 3Q18 Letter: A Bull Market In Bearish Forecasts

By Jacob Wolinsky. Originally published at ValueWalk.

The Vilas Fund, LP letter for the third quarter ended September 30, 2018; titled, “A Bull Market in Bearish Forecasts.”

Ever since the financial crisis, there has been a huge fascination with predictions of the next “big crash” right around the next corner. Whether it is Greece, Italy, Chinese debt, the “overvalued” stock market, the Shiller Ratio, Puerto Rico, underfunded pensions in Illinois and New Jersey, the Fed (both for QE a few years ago and now for removing QE), rising interest rates, Federal budget deficits, peaking profit margins, etc...



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OpTrader

Swing trading portfolio - week of September 11th, 2017

Reminder: OpTrader is available to chat with Members, comments are found below each post.

 

This post is for all our live virtual trade ideas and daily comments. Please click on "comments" below to follow our live discussion. All of our current  trades are listed in the spreadsheet below, with entry price (1/2 in and All in), and exit prices (1/3 out, 2/3 out, and All out).

We also indicate our stop, which is most of the time the "5 day moving average". All trades, unless indicated, are front-month ATM options. 

Please feel free to participate in the discussion and ask any questions you might have about this virtual portfolio, by clicking on the "comments" link right below.

To learn more about the swing trading virtual portfolio (strategy, performance, FAQ, etc.), please click here ...



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Promotions

Free eBook - "My Top Strategies for 2017"

 

 

Here's a free ebook for you to check out! 

Phil has a chapter in a newly-released eBook that we think you’ll enjoy.

In My Top Strategies for 2017, Phil's chapter is Secret Santa’s Inflation Hedges for 2017.

This chapter isn’t about risk or leverage. Phil present a few smart, practical ideas you can use as a hedge against inflation as well as hedging strategies designed to assist you in staying ahead of the markets.

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About Phil:

Philip R. Davis is a founder Phil's Stock World, a stock and options trading site that teaches the art of options trading to newcomers and devises advanced strategies for expert traders...

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