RECORDING Market Commentary 05-04-2016
HI Financial Services Commentary 05-04-2016
I think that is good. ANYTIME you are beating the market to the downside you are significantly further ahead
6,800,000 and multiply it by the loss today (S&P 500) 0.0059 (half of a percent ish)=$40,120
Plus I’m UP 5,867 for a difference of 46K more money to make more money another day
The AMZN 635/640 May 16 Bull put has 16 days left in the trade or 12 trading days with AMZN closing at $670.90
How much is the buffer on this ITM Bull put spread = $30
Today you can $0.77 per contract which is better than Jeffry’s $0.40 to $0.45
I like the Chart
What’s happening this week and why?
China worse than expected growth, PMI, Manufacturing numbers, carryover from last week
ALL Global Manufacturing numbers / cuts on Monday for a weaker global growth outlook
Less than expected revenues, top/bottom line and guidance for earnings
ADP employment number missed big so ……………………
Bad news is BAD news right now
Trump is the GOP candidate with a clear path to the nomination
Where will our market end this week?
Down 1% from here
DJIA – Technically bearish indicators but today we bounced off of the 50 SMA
SPX – Technically bearish indicators but today we bounced off of the 50 SMA
COMP – Technically bearish indicators and approaching a 10% correction status
Where Will the SPX end May 2016?
05-04-2016 -2.5%
What is on tap for the rest of the week?=
Earnings:
Tues: CBS, CLX, CMI, CVS, DVN, DUK, EL, GRUB, TAP, MYGN, PFE, S, VLO, ZG
Wed: D, FIT, GDDY, HUM, MRO, MET, MOS, MUR, NBL, TSO, TWX, RIG, ZNGA
Thur: DDD, ATVI, CHK, DWA, LOCO, FEYE, FISV, FLR, GPRO, HLF, JMBA, K, KHC, MRK, MWW, REGN, YELP
Fri:
Econ Reports:
Tues: Auto, truck
Wed: MBA, Crude, ADP Employment, Productivity, Unit Labor Costs, Trade Balance, Factory Orders, ISM Services
Thur: Initial, Continuing Claims, Challenger Job Cuts,
Fri: Average Workweek, Private Payrolls, Non-Farm Payrolls, Unemployment Rate, Hourly Earnings, Consumer Confidence
Int’l:
Tues – ALL: Global Manufacturing
Wed – FR:DE:EMU: PMI Composite, CN: General Services PMI
Thursday – JP: PMI Manufacturing
Friday –
Sunday – CN: Merchandise Trade, JP:BOJ Minutes
How I am looking to trade?
Went through earnings and I’ve KEPT Long Puts to protect in the sell in May go Away mentality
Rolled Protection on DIS to 105 June Strike from 97.50 June Strike cost $2.85 ish
Rolled F from 12.75 to 13.50 and 13.75
Questions???
www.myhurleyinvestment.com = Blogsite
HI Financial Services Mid-Week 06-24-2014