Monday, June 30, 2014

6/30/14 Weekly Watchlist

Market ($SPY): The market has extended itself once again but has maintained its bullish trend thus far. I am cautiously bullish as we approach the golden $200 mark. I will remain short-term bullish for as long as the market is still trending above $192.

AAPL (100Aug2014 calls)- New iphone to launch in the Fall. Would like to enter pre-momo or at the start of the momentum. Options are still cheap with I.V. sitting at 0.18 as compared to a 0.15/0.39 52wk range. My entry will come after testing historical resistance near 93.6 (monthly pivot).

JPM (55Aug2014 calls)- With Fed rate hike 6-9months away, we can anticipate a move in U.S. banks. JPM is currently trading at a low forward-P/E 9.7 and is one of the U.S. banks who have recently gained approval for a divy increase. Banks are expected to show a decline in earnings/rev this 2Q but that may already have been priced in. I do not, however, intended to hold any options into earnings, as that may be another dip-buying opportunity. JPM will payout $0.40 divy on July 1st, so I do not inteded to enter until the charts reflect the change. I am looking for an entry after it tests res at 58.

HART- HART is a low-float recent ipo that could heat up quickly and extend for longtime. I will be looking for entry after it retests $10. Ideal entry will be on a pullback between 9.4/10.

Telecomms: I am always a fan of Telecomms. I am watching these names for a medium- to long-term hold. I am already long CALL with $25Sept calls at dirt cheap prices.

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