Buy to open the JC Penny Company November 34 put option. Set a limit order to pay no more than $3.70 per contract. Read More
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After six consecutive weeks of declines, a drop of 6.6 percent on the S&P 500 and more than 10 percent for the small caps that make up the Russell 2000, stocks are finally getting a bid today. They were somewhat oversold on a short-term basis (though not particularly so) and… Read More
The only change to our positions in the past week was the addition of the Direxion Daily Financial Bear 3X Shares (FAZ) ETF. The fund is inversely levered to changes in financial stocks, which are perhaps at the greatest risk in this market. The ETF is a buy for new clients at its current price. Also quite vulnerable is Salesforce.com (CRM). The sheen is coming off this still overpriced tech darling. In the near term, we look for the stock to trade down to its 200-day moving average around $130.50. The Salesforce.com August 140 put option can still be purchased at its current price. Having kissed its 50-day moving average, gold is ready to climb higher. The gold shares, however, are acting as if the metal was trading for $200 less an ounce than its current price. We think it far more likely that the shares will rebound rather than the metal sell off. And that gap could narrow quickly. The Market Vectors Gold Miners (GDX) September 57 call option, which is a buy for new clients at its current price. Also rated a buy is Gabriel Resources (GBU.TO, GBRRF). Our other long positions, the Mosaic (MOS) September 80 call option and the EMC (EMC) July 29 call option, are rated as holds. Next regularly scheduled issue, Tuesday, June 21. RESULTS SINCE AGGRESSIVE TRADER’S INCEPTION Read More
Buy the Direxion Daily Financial Bear 3X Shares (FAZ) ETF at the market. Read More
A series of developments indicate that China is moving more quickly than anticipated to establishing a greater international role for its currency, the renminbi (RMB). The Bank of China, one of China’s “big four” banking giants, this week was authorized to bring RMB accumulated offshore back to the mainland. The… Read More
Stocks are struggling in an attempt to bounce back today after hitting a rough patch in recent sessions. Blue chips, as measured by the S&P 500, surrendered another 1 percent yesterday after falling more than 2 percent last week. More importantly, the average took out one important short-term support level… Read More
We made several changes this morning, taking profits of 34 percent and 20 percent on the International Gaming Technologies (IGT) October 18 put option and Avon Products (AVP) October 29 put option, respectively after the stocks hit our price objectives. We added the Salesforce.com (CRM) August 140 put option and we will likely have other bearish positions for you shortly. Last Friday we closed the Hartford Insurance (HIG) September 27 put option, pocketing a modest profit in the process. We also closed out the Advanced Micro Devices (AMD) October 8 put option that same day. Despite getting the stock’s direction right, we were beat on the option’s spread, exiting the trade at breakeven. Also that day, we rolled out of the Barrick Gold (ABX) July 50 call option into the Market Vectors Gold Miners (GDX) September 57 call option. The new position will give us more time for the gold shares to rebound, which we expect with the metal itself acting so well these days. The option is a buy at its current price. Also in the gold space and a buy is at its current price is Gabriel Resources (GBU.TO, GBRRF). The two long positions we’re holding (outside of precious metals), the Mosaic (MOS) September 80 call option and the EMC (EMC) July 29 call option are holds at their current levels. Read More
Sell to close the Avon Products (AVP) October 29 put option at the market. Buy to open the Salesforce.com (CRM) August 140 put option using a limit order set at $9.60. Read More
Sell to close the International Gaming Technology (IGT) October 18 put option at the market. Read More
WeeJapan’s embattled prime minister, Naoto Kan, will step down by August despite surviving a no-confidence vote on Thursday. The pressure for Kan to resign has only intensified since the March 11 earthquake and nuclear crisis. The opposition party, which can block bills in parliament, said that it would not cooperate… Read More