Volatility Back Below 20

The stock market showed continued strength on Friday but still posted a weekly loss following three days of heavy selling pressure to start the week. Slightly better earnings results and dip buying drove bullish sentiment and led to a drop in volatility.   Specifically, the volatility index closed back below the 20 level and was […]

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Bulls Snap Three-Session Losing Streak

The stock market bounced back on Thursday to snap a three-session slide despite rising producer prices. Specifically, the Producer Price Index came in above expectations with April gains of 0.6% for the headline and 0.7% for the core.   The market seemed willing to assume the inflation surge may be transitory but something to keep […]

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Extreme Option Profits Chart of Day… Freeport-McMoRan Inc (FCX)

With copper prices still running hot on supply-demand issues, FCX could push even higher.  “The copper market is tight, inventories are trending lower. There is a risk that prices of the red metal spike to $13,000,” said Bank of America analyst Michael Widmer, as quoted by Mining.com.  “Bank of America expects a deficit of 186,000 […]

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Market Falls for the Third-Straight Session

market

The stock market extended its losing streak to three-straight sessions on Wednesday following hotter-than-expected economic news. Specifically, the Consumer Price Index rose 0.8% with the core jumping 0.9%. This represented the biggest rise in the headline since 2009, and the biggest increase in the core since 1981.   The news had a major impact on […]

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Nasdaq Recovers Early Losses

Nasdaq

The stock market showed continued weakness on Tuesday with all of the major indexes down for the session as inflation fears remained a key concern. However, the Nasdaq’s recovery from an intraday 2% pullback into positive territory was a slight silver-lining. It remains to been seen if the recovery off the lows was a temporary […]

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Extreme Option Profits Chart of Day… FireEye Inc. (FEYE)

Keep an eye on cybersecurity stocks, like FireEye Inc. (FEYE). After this weekend’s oil pipeline attack, stocks like FEYE could push higher. U.S. fuel pipeline operator, Colonial Pipeline shut down its network after a ransomware attack. What makes the situation worse is that Colonial Pipeline supplies nearly half of the fuel supply for the East […]

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Tech Retreats as Inflation, Geopolitical Concerns Weigh on Sentiment

oil prices

The stock market was lower on Monday as Wall Street weighed the risk of higher inflation along with rising oil and gas prices following a cyberattack and the shutdown of a major pipeline that transports fuel in the United States.   Additionally, late day selling pressure caused further weakness and wiped out the Dow’s gains […]

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Bulls Overlook Disappointing Jobs Report

The stock market showed continued momentum on Friday with the S&P 500 and Dow reaching another round of record highs despite a disappointing April jobs report. Specifically, the jobs report showed that U.S. employers brought back just 266,000 jobs in April, versus forecasts for one million.   It was the biggest miss in 23 years […]

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Dow Sets Another Record High

The stock market traded on both sides of the ledger on Thursday before a late day rally pushed all of the major indexes into positive territory ahead of the closing bell. The gains were a slightly bullish signal ahead of Friday’s key unemployment report with expectations for a million jobs added for the month of […]

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Extreme Option Profits Chart of Day… Cirrus Logic (CRUS)

Tech stocks are showing signs of life again after taking a brutal hit. In fact, after falling from about $90 to $75, Cirrus Logic (CRUS) appears to have caught double bottom support just under its 200-day moving average.  RSI and Williams’ %R have also become exceptionally oversold at this point.  In addition, Needham & Company […]

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