Tuesday, August 28, 2012

DailyMarkets.com - Hot Option Plays: Stocks Finish Flat

DailyMarkets.com - Hot Option Plays: Stocks Finish Flat

Hot Option Plays: Stocks Finish Flat

Posted: 28 Aug 2012 11:12 AM PDT

Cusick’s Corner 08-27-2012
The grind continues. I now want to break down a trade that was mentioned earlier today on Nokia (NYSE:NOK). April 1.50 puts were sold 15000X for a credit of .14. Based on that option’s current implied volatility, this option has ~28% probability of expiring below 1.50 and ~37% probability of touching $1.50. As we pointed out, you could be put the stock, meaning if you are assigned the short put then you own the stock at $1.50 strike but at a discount of .14 or ~$1.36. … [visit site to read more] or compare Best Mortgage Rates, Credit Card Rewards or Best Credit Cards

Hot Option Plays: Paint Drying

Posted: 28 Aug 2012 11:12 AM PDT

Cusick’s Corner
To say that we are in a tight market is like saying it is boring watching paint dry. Not even the scalpers are able to do much in this market. I am staying disciplined, not pressing any trade. Gold bounced back nicely today after pressure all session long yesterday, and the catalyst could be the latest housing data from Case-Schiller. And while that data could be looked at as a positive for housing, it does make it harder to think that a message out of Jackson will be nothing … [visit site to read more] or compare Best Mortgage Rates, Credit Card Rewards or Best Credit Cards

Heller: “Waiting On The Sidelines For Bernanke”

Posted: 28 Aug 2012 10:14 AM PDT

08/28/12 OnPoint Executions’ Bobby Heller discusses central bank stimulus expectations and the implications of potential actions for the equity … [visit site to read more] or compare Best Mortgage Rates, Credit Card Rewards or Best Credit Cards

Ivory Coast Turmoil, Dry Weather Spark Cocoa

Posted: 28 Aug 2012 10:11 AM PDT

Tuesday, August 28, 2012
Cocoa futures have benefited from a combination of cheap money, poor growing conditions, and political turmoil in the Ivory Coast. The situation in the Ivory Coast is definitely one that many traders will wish to monitor. The concern over the poor midcrop may be a bit overblown, especially in light of the fact that demand has been soft. The large net long also may make existing longs a bit jittery and may trigger some profit-taking.
Fundamentals
Dry weather conditions … [visit site to read more] or compare Best Mortgage Rates, Credit Card Rewards or Best Credit Cards

Draghi Backs Out, Euro Rises

Posted: 28 Aug 2012 09:54 AM PDT

08/28/12 Treasury prices rose and the euro extended gains against the U.S. dollar Tuesday after European Central Bank President Mario Draghi cancelled a plan to speak at the Federal Reserve’s Jackson Hole conference this … [visit site to read more] or compare Best Mortgage Rates, Credit Card Rewards or Best Credit Cards

Oil Steadies, Loses Steam After Confidence Data

Posted: 28 Aug 2012 04:20 AM PDT

08/28/12 Front month crude prices were trading flat Tuesday morning, giving up early gains, after the release of weak consumer confidence … [visit site to read more] or compare Best Mortgage Rates, Credit Card Rewards or Best Credit Cards

Global Stocks Lower On Data

Posted: 28 Aug 2012 03:54 AM PDT

08/28/12 A dip in US consumer confidence to its lowest level in 9 months and after European Central Bank President Mario Draghi cancelled a plan to speak at the Federal Reserve’s Jackson Hole conference this weekend, European and US stocks were … [visit site to read more] or compare Best Mortgage Rates, Credit Card Rewards or Best Credit Cards

Stocks Struggle For Direction In Thin Trading

Posted: 28 Aug 2012 02:59 AM PDT

08/28/12 US equity averages traded on both sides of flat following mixed economic data releases. Consumer confidence hit a 9-month low, while the S&P Case Shiller home price index rose for the fifth consecutive … [visit site to read more] or compare Best Mortgage Rates, Credit Card Rewards or Best Credit Cards

Increases In Case-Shiller Home Price Indexes For July And Second Quarter Set New Records

Posted: 28 Aug 2012 06:32 AM PDT

Here are some initial observations on today’s report from S&P/Case-Shiller on its Home Price Indexes for July and Q2:

1. The 2.3% monthly increase in the Composite-20 Home Price Index in July was the highest monthly increase in the 12-year history of that index (it started in January 2000).

2. The 2.2% monthly increase in the Composite-10 Home Price Index in July matched the 2.2% increase in May, and marked the highest monthly increase in that index since June 2004, slightly more than … [visit site to read more] or compare Best Mortgage Rates, Credit Card Rewards or Best Credit Cards

Oil Higher On Supply-Disruption Fears, Metals Set Sights On US Data

Posted: 28 Aug 2012 06:17 AM PDT

Talking Points

Crude Oil Advances as Tropical Storm Isaac Nears Gulf Coast Landfall
Gold, Silver Vulnerable if Firming US Data Dents Fed QE3 Expectations

Crude oil is pushing higher ahead of the opening bell on Wall Street amid reports that tropical storm Isaac is on the verge of being classified as a full-blown hurricane as it nears landfall along the northern Gulf coast, threatening refineries that account for close to 40 percent of US processing capacity.
Meanwhile, copper remains anchored … [visit site to read more] or compare Best Mortgage Rates, Credit Card Rewards or Best Credit Cards

A Healthy Correction?

Posted: 27 Aug 2012 12:06 AM PDT

Last Monday, I wrote that I was getting bullish but equities looked a tad overbought and I was waiting for a corrective pullback (see Getting bullish, but wait for the pullback). As the markets appear to have begun to pull back last week, my intermediate term view remains bullish as signs of a global cyclical turnaround are everywhere.

Risk appetite is rising
Consider, for example, the chart below of the relative performance of the Morgan Stanley Cyclical Index against the market (in black) … [visit site to read more] or compare Best Mortgage Rates, Credit Card Rewards or Best Credit Cards
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