December 15, 2016 Market Wrap Up

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The markets rebounded today off rather high volume. Some of the strongest sectors included banks and insurance. This was largely due to yesterday’s FOMC decision to raise rates. The Dow Jones Industrials closed at 19,852, getting very close to that magical 20k mark.

Judging by the VIX, there isn’t much volatility expected at the moment, as it closed at 12.79.

Now, here is how some of the other closely followed ETFs did on the week: United States Oil Fund (USO) +0.35%, iShares 20+ Year Treasury Bond (TLT) +0.51%, SPDR Gold Shares (GLD) -1.37%.

One poor performer today was silver (SLV), the iShares Silver Trust (ETF) was down 4.71%.

Shippers were strong today, some of the top names were: DCIX +99.6%, ESEA +90.65%, and DRYS +54.09%

On the options front, we saw large call buying activity in Carnival Corp (CCL), which traded 5.8 times normal option volume. In addition, we saw heavy put buying in Sage Therapeutics (SAGE), which saw 10.3 times normal options volume.

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

Key Economic Data:
16 Dec 2016- Housing Starts 8:30 AM ET

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November 17, 2016 Market Wrap Up

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The S&P 500 closed near its 52-week highs today as the market keeps on rolling. The FOMC hinted that they are very close to raising rates, possibly in December. It appears that market is preparing for a rate hike, and based on the price action they’re OK with it.

One of the more active names today was Dryships (DRYS), -90%, it traded in a range between 10.80 to 54.15, finally closing at $11. The stock price was trading under five bucks a couple weeks ago and as high as $100 per share this week. The sector as a whole was on fire for a couple weeks, but it seems like the party is over for the shippers.

The VIX has dropped significantly over the last two weeks, as the market is not as worried about a Trump Presidency.

Crude oil futures prices sold off a little, and have sold off on four out of the last five trading days.

On the options front, we saw large call buying activity in Restoration Hardware (RH), which traded 3.5 times normal option volume. In addition, we saw heavy put buying in G III Apparel Group (GIII), which saw 7.5 times normal options volume.

Here’s what’s on tap for tomorrow:

Key Earnings:
18 Nov 2016- ANF, BKE, FL

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November 15, 2016 Market Wrap Up

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The S&P 500 was up today on lower than average volume, however; the move was large enough to erase the previous two losing sessions. The Nasdaq had a nice bounce today, over the last week or so, the FANG stocks have not performed well relative to the market.

One of the more active names today was Dryships (DRYS), +66%, it traded in a range between 45.40 to 102, finally closing at $73. Many attribute the move to the low float, and an extremely high short interest ratio. The sector in general, has been on a tear after it was announced that Donald Trump would become the 45th President of the United States of America.

The VIX got crushed today, dropping nearly 8% and closing below 13.50, at 13.37.

Crude oil futures prices caught a bid today, rising nearly 6% and snapping a 3-day losing streak. Keep in mind, that API numbers are this evening, and DOE numbers are tomorrow.

On the options front, we saw large call buying activity in US Bancorp (USB), which traded 2.6 times normal option volume. In addition, we saw heavy put buying in Resource Capital Corporation (RSO), which saw 6.7 times normal options volume.

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

Key Economic Data:
16 Nov 2016- PPI 8:30 AM ET, Industrial Production 9:15 AM ET, EIA Petroleum Status Report 10:300 AM ET
17 Nov 2016- Consumer Price Index 8:30 AM ET, Housing Starts 8:30 AM ET, Jobless Claims 8:30 AM ET, Philadelphia Fed Business Outlook Survey 8:30 AM ET

Key Earnings:
16 Nov 2016- TGT, LOW, CSCO, NTAP, LB
17 Nov 2016- BBY, HP, SPLS, WMT, AMAT, CRM, GPS, INTU, MRVL, NUAN, POST, ROST
18 Nov 2016- ANF, BKE, FL

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November 10, 2016 Market Wrap Up

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The S&P 500 has been on a tear the last two days after it was announced that Donald Trump will be the new President of the United States of America. With that said, we’re seeing investors shift out of certain sectors into new ones. For example, infrastructure related stocks, oil and gas, medical, and banking are some sectors that have benefited early on. However, the tech space has not been as strong.

The VIX actually rose a little, but is now trading well below 15. It was just a couple days ago where we saw the VIX trade above 20.

Stocks in play today included: 58.com (WUBA) -18%, Silver Wheaton Corp (SLW) -16%, Dryships (DRYS) +126%, and Top Ships (TOPS) +22%

Crude oil futures prices sold off a little, snapping a 3-day winning streak.

On the options front, we saw large call buying activity in Union Pacific (UNP), which traded 2.5 times normal option volume. In addition, we saw heavy put buying in Asanko Gold (AKG), which saw 31.6 times normal options volume.

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

Key Earnings:
11 Nov 2016- JCP

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