RECORDING Market Commentary 03-01-2016

When you come to a fork in the road, take it. – Yogi Berra

 

Too much negativity!!!  The US appears better than other places in our global economy

Long term short covering once we broke the 50 SMA on some indexes

Stabilization in Oil, China

Best first day of a month in 3 years and Historically March is a bullish month

Inflows into mutual funds but not with excessive volume

 

What’s happening this week and why?

Chicago PMI 47.6 vs est 52

Pending Home Sales -2.5 vs est .7

Construction Spending 1.5 vs est .5

ISM 49.5 vs est 49.0

Auto and truck sales knocked it out of the park !!!

Chins PMI last night were lower than expected but China offset these number by a 50 basis point cut in the interest brewing rates last week

 

 

Where will our market end this week?

Higher to near 2000 because there is no more resistance until 2000, market inertia

 

 

DJIA – Bullish with a big bounce off the 50 SMA

  

SPX –  Bullish with a big bounce off the 50 SMA

  

 

COMP – NOT technically bullish yet and have quite a ways to go until you get to the 50 SMA

 

 

Where Will the SPX end March  2016?

03-01-2016           +4%

 

 

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

Earnings:

Tues:          AZO, DKS, DLTR, MDT, ROST, TIVO

Wed:          ANF, COST, VSLR

Thur:          BKS, BURL, JSDA, JOY, SKUL, SWHC, KR, AVGO

Fri:             BIG, SPLS

 

Econ Reports:

Tues:           Construction Spending, ISM Index, Auto, Truck

Wed:          MBA, ADP Employment, Fed Beige Book

Thur:          Initial, Continuing Claims, Challenger Jobs, Productivity, Unit Labor Costs, Factory Orders, ISM Services

Fri:             Ave Workweek, Non-Farm Payroll, Private Payroll, Unemployment Rate, Hourly Earnings, Trade Balance

 

 

Int’l:

Tues –         DE:PMI Manufacture, Unemployment Rate

Wed –         CN: General Services, PMI, JP: PMI Composite

Thursday –  DE:EMU:FR:  PMI Composite, EMU: Retail Sales

Friday –    

Sunday –   

 

 

How I am looking to trade?

Today I added short puts to the 155 March 2016 long puts on BIDU.  Stock has moved significantly so time to chase it up with shor t puts to “maybe” pay off a good portion of what I paid for the long puts to get thru earnings

Took Long puts off F, NVDA, ZION today

Looking to adjust AAPL (Covered Call), DIS protective put and V collar trades

 

Questions???

 

 

www.hurleyinvestments.com 

www.myhurleyinvestment.com = Blogsite

customerservice@hurleyinvestments.com = Email

 

Baidu: Huge Positives Of Removing Wild Spending

http://seekingalpha.com/article/3940986-buy-baidu-unquestioned-value?app=1&auth_param=vnn53:1bd977h:305be4f4af4769377e24ced97ae64c58&dr=1#alt1

 

Ford’s U.S. sales dazzle across the board in February

http://seekingalpha.com/news/3152366-fords-u-s-sales-dazzle-across-board-february?app=1&dr=1#email_link

 

Apple Wants You To Upgrade

http://seekingalpha.com/article/3944496-apple-wants-upgrade?app=1&auth_param=vnn53:1bdbg88:d5cbed47285685ca214c2019bbe59a4b&dr=1#alt1

 

Facebook: What Are You Afraid Of?

http://seekingalpha.com/article/3940926-facebook-degenerate-gambler?app=1&auth_param=vnn53:1bd96as:e3c97342a560f61e104df6865755c16f&dr=1#alt1

 

What Apple’s Dividend Increases Look Like

http://seekingalpha.com/article/3940496-apples-dividend-increases-will-look-like?app=1&auth_param=vnn53:1bd9107:6ce3bce2d7589084ef24f1dc7b46ee15&dr=1#alt1

 
Why The Market Hates Ford

http://seekingalpha.com/article/3937306-market-hates-ford

 

Ford’s Dividend Safety Factor

http://seekingalpha.com/article/3920326-fords-dividend-payout-attractive-proposition?app=1&auth_param=vnn53:1bcp20k:9a8d509286f31238179fb4700a8b67e5&dr=1#alt1

 

Disney: Is Too Much Of A Good Thing A Bad Thing?

http://seekingalpha.com/article/3930766-disney-much-good-thing-bad-thing?app=1&auth_param=vnn53:1bcumbi:5310dec9c72614c321fc8dad81108ba8&dr=1#alt1