HI Financial Services Commentary 05-09-2017
YouTube Link https://youtu.be/RN0T_d5mLMg
What’s happening this week and why?
Earnings, Fed speakers, Comey getting fired
French Elections ended with communist party winning and didn’t matter
VIX 24 year low !!!!
What is it that causes a 24 yr low?
IS it complacency?=no fear, overly bullish expectations, total passiveness, lack concern for risk
I believe the Fed is now purchasing securities in an index form like they do over in Europe, Market Friendly reforms
Are all central banks backstopping the reserve currency = US Dollar
DIS Down $3 after hours and let’s look at my position to measure the “hurt”
I could expect an 8500 to 10K drop in accounts
Technically speaking it can go down to the 104 horizontal level of support or the $102.50 200 SMA
I’m Excited because I still have the right to sell at 115 and 600 shares at 113
Let’s do the math
On 1000 shares I can sell at $115 for $115,000 and now buy back in at $103
115000/103 = 1, 116.5 shares or in other terms I just picked up 100 shares without having to call and ask for more money to be put into the account so I can dollar cost average.
Where will our market end this week?
Higher
DJIA – Bullish but range bound
SPX – Bullish but sideways range bound
COMP – Overbought bullish
Where Will the SPX end May 2017?
05-09-2017 +2.0%
05-02-2017 +2.0%
What is on tap for the rest of the week?=
Earnings:
Tues: AGN, DF, MDC, ODP, US, FOSL, DUK, NVDA, DIS
Wed: CROX, SODA, TM, WEN, NTES, WFM
Thur: DDS, KSS, MCFT, JWN
Fri: JCP
Econ Reports:
Tues: Jolts, Wholesale Inventories
Wed: MBA, Crude, Import, Export, Treasury Budget
Thur: Initial, Continuing Claims, PPI, Core PPI
Fri: CPI, Core CPI, Retail Sales, Retail ex-auto, Business Inventories, Michigan Sentiment
Int’l:
Tues – CN: CPI, PPI
Wed –
Thursday – GB: BOE Announcement
Friday –
Sunday – CN: Industrial Production, Retail Sales
How I am looking to trade?
Finishing up earnings with Protective puts or collars. Bull Putting the protection when possible
Questions???
www.myhurleyinvestment.com = Blogsite
customerservice@hurleyinvestments.com = Email
HI Financial Services Mid-Week 06-24-2014