NO RECORDING THIS WEEK
HI Financial Services Mid-Week Commentary 02-24-2016
I trade to live, not live to trade – Kevin Hurley
YES, I think the market is extremely difficult right now because, we are in a choppy range bound market
It’s OK to be down a bit and have a process in place
It is NOT ok to have booked over a 15% loss year to date.
$1 becomes $0.85 and a 20% return gets you to $1.02
An 18% return gets you to $1.003
It is OK to protect your positions and I understand NOT wanting to overpay
How do you not over pay?
What I have done this week and last is sell longer term short call options. Some leaps, some 6 months out some 3 months out.
Technically we have a sideway chart for movement on our market with lower volume, no catalyst, to buyers and lower oil prices.
What’s happening this week and why?
Case Shiller 5.7 vs est 5.8
Consumer Confidence 92.2 vs est 97.3
Existing Home Sales 5.47 vs est 5.30
MBA -4.3 vs last weeks 8.2
New Homes sales 494 ns est 523
First week of the Retail sales earnings
Where will our market end this week?
Down 1% from the close today
DJIA – Technically Bullish but we are pinched between support and the 50 SMA
SPX – We have three technical crossovers to the bullish side BUT we are not bullish yet
With the Bollinger bands widening we are “validating” a stagnant or sideways trend
COMP – Bullish with no volume and widening Bollinger bands
Where Will the SPX end February 2016?
What is on tap for the rest of the week?=
Tues: DLTR, DRYS, FIVN, HD, SJM, M, ODP, PZZA, TOL
Wed: CHK, CROX, LB, LOW, NTES, TGT, TJX, RIG
Thur: BBY, CPB, CLDX, CHS, DPZ, GPS, BIDU, HLF, IM, KSS, KHC, MNST, NDLS, NTRI, SDRL,
Fri: AMT, FL, HLT, JCP, KBR
Tues: Case-Shiller, Consumer Confidence, Existing Home Sales,
Wed: MBA, New Housing Starts
Thur: Initial, Continuing Claims, Durable Goods, Durable ex-trans, FHFA Housing Price Index
Fri: GDP, GDP Deflator, Personal Income, Personal Spending, CORE PCE Prices, Michigan Sentiment
Thursday – EMU: M3 Money Supply, HICP
Sunday – JP: Industrial Production, Retail Sales
How I am looking to trade?
I’ve added longer term short calls to buy me a day or two “aka… Like today”
If I can validate a movement to the lower end of the range I am doubling up on puts for DIS, BIDU, V, NVDA, FB,
www.myhurleyinvestment.com = Blogsite
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