HI Financial Services Mid-Week Commentary 06-23-2015

HI Financial Services Mid-Week Commentary 06-23-2015

HI Financial Services Mid-Week Commentary 06-23-2015

You don’t know there is a market problem until there is a problem – CNBC Commentary

 

What are we waiting for forever 4.5 year’s?

                  Higher interest rates

                  The dreaded correction (-10 + drop)

                  PIGS drama to end/kicked out of the Euro  

 

You don’t have to catch the initial drop in the correction to be profitable for the year

Look at trading like a process not a one-time event

 

Someone asked if I would roll a spread trade out in time “hoping” for the strategy to become profitable

NO WAY JOSE !!!

In Spread trading you are playing a shorter term trend so I want to follow the current trend.

 

Now investing is different because you want to buy and hold (while collar trading) to book profits as long term capital gains. 

I have short puts on fundamentally sound stocks that are right now trading lower than they should.  I am rolling the short put a week before options expiration to make sure I do not get the stock assigned.  Not that it matters because any time I place naked short puts I have the capital to cover the purchase of the stock.   As you work thru the totals I will have a net credit if assigned and it would lower my cost basis on the stock. 

 Screen Shot 06-23-15 at 04.59 PM Screen Shot 06-23-15 at 04.56 PM

 

 

 

What’s happening this week and why?

Monday Greece blinked and is willing to negotiate terms

Existing home sales 5.35 M vs est 5.26 M

New Home Sales 546 vs est 525

Durable Goods -2.0 vs est -0.5

Durable ex-trans -0.3 vs est -0.3

 

 

Where will our market end this week?

Higher still because we have a Greek resolution next Monday and next week is also a holiday shortened week with Friday having the markets closed – 4th of July

 

DJIA – Bullish with all three crossovers

 Screen Shot 06-23-15 at 04.40 PM

 

SPX – Bullish

 Screen Shot 06-23-15 at 04.41 PM

 

COMP – Bullish

 Screen Shot 06-23-15 at 04.59 PM 001

Where Will the SPX end June 2015?

06-23-2015          UP 2% for the month

 

06-09-2015          UP 2% for the month

 

06-02-2015          UP 2% for the month

 

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

Earnings:

Tues:          CCL, DRI

Wed:          BBBY, FUL, LEN, MON

Thur:         BKS, NKE, WGO

Fri:            

 

Econ Reports:

Tues:           Durable Goods, Durable ex-trans, FHFA Housing Price Index, New Home Sales      

Wed:          MBA, GDP. GDP Deflator

Thur:         Initial Claims, Continuing Claims, Personal Income, Personal Spending, PCE PRices  

Fri:              Michigan Sentiment

 

Int’l:

Tues –         FR:DE:EMU: PMI Composite Flash, JP: BOJ Minutes

Wed –        

Thursday – JP: CPI, Unemployment

Friday –     EMU: Money Supply  

Sunday –    JP: Industrial Production

 

 

How I am looking to trade?

Let’s go over unique trades at the end of the options expiration month last Friday

I have stocks sitting alone expecting a buying opportunity because of Greece

F, NVDA, DIS, V, FB, WBA,

 

BIDU, AAPL ½ , Collared thru August

 

Questions???

 

www.hurleyinvestments.com 

www.myhurleyinvestment.com = Blogsite

customerservice@hurleyinvestments.com = Email

 

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