August 16, 2016 Market Wrap Up

August 16, 2016 tvcuser Education, Trading Conferences, CREE, Crude Oil, Earnings, EGHT, HAIN, MEET, RAI, REN, S&P 500, STEM, URBN, VIX

The S&P 500 sold off from 52-week highs today on below average trading volume.

Stocks in play today include: The Hain Celestial Group (HAIN) -26%, Meetme (MEET) -16.7%, Stemcells (STEM) +598%, and Resolute Energy (REN) +3%

The VIX closed higher, up over 7% on the day at 12.64.

Crude oil futures continue to ascend higher, now up over 9% over the last three trading sessions. With that said, crude oil futures are are still more than 10% off their 52-week highs.

On the options front, we saw large call buying activity in Reynolds American (RAI) at 4 times normal option volume. In addition, we saw heavy put buying in 8×8 Inc (EGHT) at 23.3 times normal options volume.

This evening we got earnings out of Cree (CREE) -7% and Urban Outfitters (URBN) +8.8%

Here’s what’s on tap for tomorrow and the rest of the week:

Key Earnings:
17 Aug 2016- AEO, LOW, SPLS, TGT, A, CSCO, NTAP
18 Aug 2016- BONT, WMT, AMAT, GPS, ROST, DV
19 Aug 2016- DE, EL, FL, MSG

Key Conferences:
Enercom Energy Conference (runs till 8/18)

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October 20, 2015 Market Wrap Up

October 20, 2015 tvcuser Education, Trading CMG, CREE, Data, Earnings, Economic, education, FOX, HRTX, S&P 500, SPY, trading, USO, VIX, YHOO

The S&P 500 was nearly flat today, closing the day down less than half of a percent. The SPDR S&P (SPY) is now up more than 4% on the month.

Earnings thus far have been average at best. We’ve seen some poor results from the likes of NFLX, IBM, WMT, and MS to name a few.

Interestingly, the VIX spiked 5% today, now trading at 15.75.

The energy sector was relatively flat; however, the United States Oil Fund (USO) has been dislocating from the equity markets. It’s clearly lost some steam while the equity markets keep moving higher.

On the options front, we saw bullish call buying in Heron Therapeutics (HRTX). Options that saw bearish put buying in Twenty First Century Fox Inc (FOX).

This evening we got earnings from Chipotle Mexican Grill (CMG) -3%, Yahoo! (YHOO) -3%, and Cree (CREE) -1.4%

Here’s what’s on tap tomorrow:

Key Economic Data:
22 October 2015- Jobless Claims 8:30 AM ET, Existing Home Sales 10:00 AM ET

Key Earnings:
21 October 2015- BA, GM, IPG, KMB, KO, STJ, SVU, TEX, CAKE, CCI, EBAY, MLNX, SNDK, TXN, URI, WFT
22 October 2015- BEN, CAM, CAT, DAN, CY, DGX, DNKN, DOW, DPS, FCX, LLY, JNS, LAZ, LUV, MCD, MJN, MMM, NDAQ, SWK, ALTR, AMZN, ATHN, COF, MSFT, QLIK, SYNA, T
23 October 2015- AAL, PG