MidWeek Commentary

HI Financial Services Mid-Week 06-02-2014

HI Financial Services
Mid-Week 06-02-2014

One of the funny things about the stock market is that every time
one person buys, another sells, and both think they are astute.  William Feather


What has been happening
so far this week?

          Pretty flat for right now.
Waiting for economic news.  ISM
Index came out yesterday est 55.6 and came out at 53.4 then revised due to a
programming error to 54.6 then revised an hour later to be 55.4.   Dropped the market down over 50 points
yesterday. The Dow dropped and the ISM has “no real bearing on the DOW components”.  What we do know is that when revisions come
out in the governments’’ or markets’ favor it instills doubt.  Construction spending came in a 0.2 when est
to be 0.7.  Today factory orders came in
at 0.7 est 0.5 so it was a beat.  China
PMI Manufacturing came in at a 6 month high above 48 but still in contraction territory
because it is below 50.


Where will our market
end this week?

          We should see a 1% plus growth in the indexes this week
because: ECB Announcement on Thursday and so far Draghi hasn’t disappointed us.  AND we have the Avework week number which
include Non-Farm Payroll and Private payroll numbers. 


DJIA– Higher highs and
almost higher lows.  A Bullish trend and
we have the 50 SMA for support.

SPX – Higher highs and
higher lows with a breakout above the upper trend line.

COMP – Broke above the
50 SMA and we are in a one week stagnant pattern.  Looks like the “rounding” of the top of a


Where Will the SPX end June


I would expect to continue
to melt up in the indexes.  I think we
lack a stimulus so I would not go much higher than 1950 or roughly a 1% gain
for June


What is on tap for the
rest of the week?=


Tues:          DG

Wed:          FIVE

Thur:         DMND, SJM, JOY

Fri              PNY 


Econ Reports

Tues:  Factory Orders,
Auto, Truck

Wed:  MBA, ADP Employment,
Trade Balance, Productivity, Unit Labor Costs, ISM Services, Fed Beige Book,

Thur: Initial Claims, Continuing
Claims, Existing Homes Sales, Leading Indicators, Challenger Job Cuts

Ave. Workweek, Non-Farm Payroll, Private Payroll,
Unemployment Rate, Hourly Earnings, Consumer Credit



Tues –   JP:GB:
PMI Composite,  EMU: Unemployment Rate,
HICP Flash 

Wed –   FR:EMUE:
PMI Composite, GB: PMI Services, EMU: GDP, PPI

Thurs – DE:
Manufacturing Orders, EMU: Retail Sales, ECB Announcement   

Friday – DE:FR:GB:
Merchandise Trade DE: Industrial Production,

Sunday –   


How I am looking to


Right now I feel like I
am letting a lot of stocks Run – AAPL, DIS, D, TSLA, F, NVDA, VZ, V, LNCO, ZION


Collar: BIDU, MS, SBUX,
BBY(exploding collar)


Covered Calls: ½ AAPL
positions, TSLA (@200 and 250 in June for 500), SNDK Jul 87.50 with a 6.36
credit (?)


Stock only
positions:  AAPL, DIS, D, F, VZ, V, LNCO,


Protective Puts: MEI,




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