RECORDING Market Commentary 05-17-2016
HI Financial Services Commentary 05-17-2016
What are my choices in the stock market because everything I look at seems to be the same? Hurley Investments Client
Everything is the same from a broker, registered investment advisor to a financial planner
The put you in to a financial planning software answer is 60 equities 40 bonds
Then they all invest your money and in their minds the job is done.
When it doesn’t work what is their answer? = DON’T worry your invested for the long term
You guys made a choice to do something different!!!!
What’s happening this week and why?
Good news is bad news and bad news is good news
Empire Manufacturing -9.0 vs est 6.6
Building Permits 1116 vs est 1130
CPI .4 vs est .3
Core CPI .2 vs est .2
Housing Starts 1172 vs est 1135
Capacity Utilization 75.4 vs est 75.0
Industrial Production .7 vs est .2
Where will our market end this week?
Down 1% from here
DJIA – Bearish and trying to hold the 50 day SMA
SPX – Bearish and trying to hold the 50 day SMA
COMP – Bearish and trying to hold the 50 day SMA
Also approaching 10% correction territory
Where Will the SPX end May 2016?
05-17-2016 -2.5%
05-11-2016 -2.5%
05-04-2016 -2.5%
What is on tap for the rest of the week?=
Earnings:
Tues: HD, TJX
Wed: AEO, CSCO, HRL LB, LOW, CRM, TGT, URBN
Thur: AAP, AMAT, DKS, ROST, SMRT, WMT
Fri: BKE, DE, FL
Econ Reports:
Tues: Building permits, Housing Starts, CPI, Core CPI, Industrial Production, Capacity Utilization
Wed: MBA, Crude, FED minutes,
Thur: Initial, Continuing Claims, Phil Fed,
Fri: Existing Home Sales
Int’l:
Tues – JP: GDP
Wed – EMU: HICP
Thursday – JP: All Industry, GB: Retail Sales
Friday –
Sunday – JP: Merchandise Trade
How I am looking to trade?
I haven’t taken off the collars from the earnings session
Options expiration on Friday and I feel like I need to sell some more premium
To sell premium short puts against long puts and roll covered calls or add new covered calls as volatility has picked up
Questions???
www.myhurleyinvestment.com = Blogsite
customerservice@hurleyinvestments.com = Email
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HI Financial Services Mid-Week 06-24-2014