Tuesday, July 31, 2012

Monday, July 30, 2012

S&P500 Sell Signal

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ITZ was stopped out of the UPRO position today @ $79.50. Having entered 1/2 position 7/25 @ $72.50 & 1/4 position 7/26 @ $75.50, for a $6.00 +8.16gain.

Suggest taking a 1/4 position into Proshares Pro Short S&P500 ETF (SPXU) @ $44.50.

We could see the $SPX rise near term to 1400. ITZ will follow up with further position entry points.

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Sunday, July 29, 2012

S&P500 Nearing ITZ Target

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S&P500 is nearing ITZ 1390/1400 target, as per suggested trade, Proshares Ultra Pro S&P500 ETF (UPRO) -current stop set @ $79.50 LINK

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Friday, July 27, 2012

ITZ - S&P500 Near Term Target

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Targeting,  1390-1400 near term for the S&P500 --  ITZ is playing this rally via Proshares Ultra Pro S&P500 ETF (UPRO) targeting $80-$81 having entered a 1/2 position @ $72.50 on 7/25 & a 1/4 position on 7/26 @ $75.50. Current STOP $77.50.

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Starbucks gets Decaffed (SBUX)

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Starbucks (SBUX) said Thursday that it earned 43 cents per share for the quarter ended July 1, a number that fell two cents short of forecasts.

Revenue rose 13% to $3.3 billion, yet failed to match predictions.
The disappointing results, coupled with a warning from the firm's management about the current quarter, sent shares down by more than 10% after the opening bell Friday.

Starbuck's now expects to earn 44 to 45 cents per share in the fourth quarter, and $2.04 to $2.14 per share for the full year, with global economic conditions attributing to the lower expectations.

ITZ suggested entering SBUX on May 10th 2012 with a 1/2 position @ $54.50.  LINK

Lets give SBUX some time here to see how things play out before adding to long term position.

Thursday, July 26, 2012

ITZ PIX Update

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"ECB will do whatever it takes to preserve the euro," - Mario Draghi LINK

Markets rallying on Draghi's comments this morning... ITZ entered the Proshares Ultra Pro S&P500
ETF (UPRO) yesterday, taking a 1/2 position @ $72.50. Lets add to that position this morning by a 1/4 position nad wait to see how things play out before adding the remaining 1/4 position.

ITZ was stopped out of the Proshares Ultra Crude Oil ETF (UCO) yesterday @ $29.00. Noting that the daily Gold:Oil Ratio was giving a sell signal, while the shorter term 8 hour chart a buy signal. ITZ had been watching that $89 level on WTI crude oil the neckline and throwback pivot area ($89/$88). Futures have oil breaking higher this morning around $89.90. Lets take a 1/4 position on UCO here around $30.45ish.

Here are the current suggested buys over the last few months on ITZ PIX:

SLW 1/2 position on 4/17 $30; 1/4 position on 5/8 $26.75; 1/4 position 5/9 @ $26.75
FCX 1/2 position 4/5 @ $38 & 1/2 on 5/14 @ $34.80
AAPL 1/4 on 4/24 @ $559; 1/4 on 5/17 @ $539; 1/4 on 7/23 @ $588; 1/4 on 7/25 @ $572
QCOM 1/4 on 4/24 @ $61.40; 1/4 on 5/17 @ $58.80; 1/4 on 5/17 @ $57
SBUX 1/2 on 5/10 @ $54.50
UPRO 1/2 on 7/25 @ $72.50

Wednesday, July 25, 2012

Apple Misses Earnings...Now What?

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  Apple missed Q3 2012 earnings coming in at $9.32 versus estimates of $10.23. While it exceeded its own conservative guidance, it failed to meet analyst expectations. Apple generated revenue of $35.0 billion and reached a quarterly net profit of $8.8 billion, or $9.32 per share. Margins were strong at 42.8%. All of these numbers are up compared to the year-ago period. Apple's Q3 Earnings Report

During its third quarter, Apple sold 17 million iPads. That represents a massive 84% increase compared to the year-ago period and sets a new quarterly record for Apple's tablet. It also sold 26 million iPhones, 4 million Mac computers, 6.8 million iPods, and 1.3 million Apple TVs.

Prior to 4S release 10/18/11 Q4 '11 earnings missed as well. $7.05 versus est of $7.38. The stock declined 14.4%. But the following quarter they blew away earnings $13.87 versus estimates of $10.20 and the stock rallied 45% in coming weeks.

Thus far for '12 Apple has earned $35.49, ITZ has a $50 full year target. Meaning it needs to come in with a $14.51 number in 3 months. Well Q1 2011 was $13.87 , thus ITZ believes it can beat it for Q4 '12.

ITZ maintains it's $750 price target as noted in a March blog post READ

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S&P 500 & Crude Oil Reversal Higher

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ITZ takes a look at two cahrts this morning, the S&P500 8 hour & the NYMEX crude oil. Apple missed estimated earnings and is selling off, but BA & CAT beat, bullish for the $SPX.
The S&P500 has been in an ascending channel with 1350 & 1330 support trendlines. The chart looks bullish near term and ITZ like trading via Proshares UPRO around $44.50.

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WTI Crude Oil sold off the last several weeks and has set up and Inverted Head & Shoulders pattern. ITZ was looking for a throwback to the neckline around $89, we got $88. Lets see if a rally in the S&P500 can push oil higher. Trade WTI crude oil via Proshares UCO around $29.50

See Update On Position Below In Comments

Friday, July 20, 2012

WTI Crude Oil Pullback

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China National Petroleum in Talks Over $12.5 Billion Refinery link
US Oil Ends at $91 as Europe's Debt Problems Return link
more crude oil charts link

Thursday, July 19, 2012

Crude Oil Break Out

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WTI Crude Oil has broken out on an Inverted Head & Shoulders pattern. News out of the Middle East, geopolitical tensions are driving it higher. Near term some indicators are overbought & we could see a pullback, which should be bought. ITZ prefers using the Proshares ETFs both UCO (long) & SCO (short) to trade crudes movement.

Past ITZ Oil Post

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Wednesday, July 18, 2012

Markets Set To Break Out?

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As mentioned yesterday link, the market is at a pivotal point, will it break higher or have a near term pullback? ITZ takes a closer look....

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Tuesday, July 17, 2012

Monday, July 16, 2012

Is Crude Oil Set To Break Higher To $100?

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WTI crude oil is moving higher on news out of Dubai today.
US Navy ship kills 1 after firing at boat off Dubai read

Over the last 6 weeks oil has been setting up an Inverted Head & Shoulders pattern as annotated in the 8 hour chart below. ITZ is playing oil longer term via Proshares Ultra Crude Oil etf (UCO)

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