ECONOMIC CALENDAR:
Monday Aug30, 8:30AM ET – Personal Income
Wednesday Sep1, 10:00AM ET – ISM Manufacturing Index
Thursday Sep2, 10:00AM ET – Pending Home Sales
Friday Sep3, 8:30AM ET – Employment Report
EARNINGS:
Wednesday: Heinz (HNZ), Hovnanian (HOV), Joy Global (JOYG)
Thursday: Krispy Kreme Doughnut (KKD), Take-Two Interactive (TTWO)
Friday: Campbell Soup (CPB)
conshmillo 1:44 am on August 30, 2010 525 days ago Reply
As I mentioned in my previous posts last week, I expect this week to see some upward motion. It could be quite volatile as there are quite few weekly and monthly reports. Heaviest one, Employment Report again on Friday. Technically we are in the sweet spot and if we do not get hammered by some disturbingly negative report markets should rise. Support on DJIA is at 9925.11. I expect big dogs to be pinning AAPL to 250 on Friday.
caruso2323 11:43 am on August 30, 2010 525 days ago Reply
@conshmillo
I hope it takes us to 260 if it impresses to the degree that the layer men rush to Apple Stores to buy the new iPod’s before they even become available …
I think Apple may again fail to match supply with demand, but with a pleasant effect on the stock price
Zee 7:33 am on August 30, 2010 525 days ago Reply
Heavy, perfect word. The reports line up 2,3,4,1. Yes?
An old theory that I’ve have never looked up to prove if the numbers correlated : Personal Income, if down = higher soup (CPB), and donut sales (KKD). The theory was supposed to also be observable.
Maybe Apple’s event next week will take us above 250 on Friday. Cross your fingers.
Thanks for the heads up.
RattyUK 8:44 am on August 30, 2010 525 days ago Reply
I am hoping for some real numbers on the iPad and the iPhone 4 on Wednesday. If they are given and are as good as I am expecting then we could see some kind of serious pick up. Fingers crossed.
caruso2323 1:36 pm on August 30, 2010 525 days ago Reply
@rattyuk
What numbers do you expect ?… If any numbers are given, they will be given in terms of iOs devices… Have you been tracking iOs data points and if so what are they, along with the time points …
conshmillo 1:45 pm on August 30, 2010 524 days ago Reply
What a nasty Monday open. Personal Income 0.2%. Consensus was 0.3%. One down, whole bunch more to go.
caruso2323 3:01 pm on August 30, 2010 524 days ago Reply
Hmmm … I thought reading that the saving rate dropped ? Doesn’t that mean that consumers are spending more ? … Isn’t that supposed to be good ? …
I also read that according to a survey of senior executives of US companies we are in a recession ! … So why worry about the double dip ? … According to that survey the market will recover in the second half of 2011… So at least we can dream that we may run-up by dec. 2010
The pundits have redefined the recession … lol … We have a housing market recession, an unemployment recession … So why care about the GDP figures … All we need to monitor and make a fixation for is the numbers of claims … Even better, job creation : more than 250K minimum…
But a year ago, were we not told that we would get 10%+ unemployment despite growth and a recovery ? Are the politicians at play again ?
conshmillo 3:58 pm on August 30, 2010 524 days ago Reply
in SEP 10 DIA 101 @ 2.11
Nicu 8:32 am on August 31, 2010 524 days ago Reply
@conshmillo
call ? put ?
conshmillo 10:17 am on September 1, 2010 523 days ago Reply
@conshmillo
out of Monday’s SEP 10 DIA 101 CALL @3.05 for +0.94
conshmillo 11:50 am on August 31, 2010 524 days ago Reply
call
caruso2323 3:13 pm on September 1, 2010 522 days ago Reply
I see it going higher tomorrow … 253-254 with support at 248 ish … The drop in double dip fears can help the Dow march towards 10,500…
But any cut in the iPhone waiting might lift us to 260 next week
conshmillo 4:38 pm on September 3, 2010 520 days ago Reply
All right, markets ended higher this week as I expected them to. DJIA is up 297.28 (+2.93%) for this week. We had brutal Monday because of lower than expected personal income data. This was great opportunity to load up on short term long positions. AAPL closed up a whooping 17.15 (7.1%) for this week supercharged by Apple’s Media event on Wednesday. On Friday we’ve got extra boost by not as bad employment data as was expected, which thrown the week’s pin way off the 250. Next best thing to 250 rounder for big dogs is the 260 pin. Closer they can get it to the strike price (any strike price) better off they are as options writers. They tried hard to pin it to 260 to everyone’s delight (258.77). All in all a pretty good week for longs.