Traders Corner   24 comments

Pre-market movers

UP: AMZN, GOOGL, SDRL, TSLA, VZ
DOWN: MSFT

The S&P 500 levels to watch today:

UPSIDE: 1912 (May 27th’s high and the all-time high).
LAST CLOSE: 1911.
DOWNSIDE: 1906 (top of the Bollinger Bands), 1901-1902 (3 data points), 1896-1897 (4 data points and April’s high), 1893 (May 23rd’s low), 1891 (May 2nd’s high), 1883-1889 (9 data points and March’s high and the 20 day moving average), 1880 (May 12th’s low), 1878 (5 data points), 1872-1873 (2 data points), 1871 (50 day moving average), 1870 (May 8th’s low), 1865-1868 (4 data points and February’s high), 1863 (bottom of the Bollinger Bands), 1862 (May 15th’s low), 1859 (May 7th’s low), and 1850 (100 day moving average).

S&P 500 Daily Momentum: Bullish
S&P 500 Daily Overbought/oversold: Neutral (leaning overbought)
S&P 500 Weekly Momentum: Bullish
S&P 500 Weekly Overbought/oversold: Neutral (leaning overbought)
S&P 500 Futures (June): Positive
Overall: We are looking at another bullish opening today. But we are also starting above the S&P 500’s Bollinger Bands, which might have a gravity-like effect on any upward moves.

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24 responses to “Traders Corner

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  1. Not sureif anyone else owns SYNA, a stock I bought in November. They are looking at acquiring a chipmaker, which per Pacific Crest, would strengthen their ties with AAPL. PC says SYNA is worth $90 to $100 (currently at $60) should the acquisition go through. SYNA is a pretty attractive company, trading at 13x forward earnings, with almost $11 cash per share on balance sheet and expected growth of 22%.

  2. I see where SDRL had strong earnings. Congrats to those who bought under $35. NADL looks very interesting as well in that space. Any thoughts there?

    • I bought NADL at 9.58.

    • With SDRL, you have a “best in class” company. Even if the industry suffers, SDRL will still get the business that’s out there. Now that the dividend is increased, I am looking at over 12% in annual yield.

      But let’s face it: The Rosneft deal is HUGE for both SDRL and NADL. While other drillers are floundering, SDRL and NADL are sitting pretty for quite a few years.

    • Marshall interested if this is a longer term play and what made you pick NADL over SDRL or other drillers?

  3. FEYE 35.25

  4. Sold July 17 calls on GTAT for 1.00 reducing my basis to 13.38.

  5. ED, Still waiting for some good prices on Dividend Stocks and noticed one of Jubak’s Stocks (COH) Coach just hit a new Low… What do you think ?? 3.2 % Yield.

    • Steve,
      I’d hold off on COH. Analysts are calling for falling earnings and revenue into next year (analysts are more often overly positive than overly negative). I suspect you’ll get a better price around this time next year.

      • Thanks, any time a Good, Steady Stock hits a new low I like to grab some (If the Divi is at least 3%). Hope to see some better Prices this Summer when every one is enjoying their Summer vacations (June, July ??).

      • COH shows up regularly on my screen for good companies that are cheap. Their problem is that KORS has been stealing market share. If COH can stem that, the stock will start moving up. I have not pulled trigger as I am nervous about retail in general.

  6. S&P looks overbought on the daily chart. Long way to go on the weekly. I would expect we might stall or see a shallow pullback. I don’t see anything to worry about yet.

  7. Any thoughts on DSW today? getting hammered, but I like their business model overall and think the market is overreacting a bit… down 28% on the day and 50% from last fall’s high.

    • Joel,
      I’d watch for the stock to bottom first before buying. But if you like the company, that’s the way to go.

      P.S. I think you’re right about the market overreacting.

    • Hello Joel, Haven’t seen you onboard for awhile. How are you doing? are you still holding BBRY?

      • Hey Lynn,
        Doing well…Been checking in most days, but not doing much trading though. Yes, I still do… for better or worse (mostly worse, haha). Almost sold when it touched $10 earlier this year. I had hoped to see more out of their handset business of course, but I still like their messaging service, security features for business/government, and patent portfolio. We’ll see if Chen can make anything happen, but I am not super hopeful. Not selling yet as I think a sale of their assets would be worth more than the $7 it trades at now.

  8. Added to my RIOM position at 1.65. This stock has been taken to the woodshed.

    • Catching up on the market and Ed’s blog. Was in China for about 10 days counting travel for my nephew’s wedding. I put in a buy order for RIOM at $1.65 My current avg. buy price is $2.02. I am a sucker for commodities.

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