Wednesday, February 20, 2013

Wednesday, Feb 20 pre-mkt outlook

The /ES closed yesterday at 1528 after opening around 1519. The overnight low was 1526 which ocurred at 0830hrs and the overnight high was 1530 around 0400hrs.  It looks to open around 1528.

$GRMN is getting hit hard in the pre-mkt and is off 10%. The stock closed yesterday at 39.25 and is trading around 35.40 in the pre-mkt. The 35 level is it's 1yr low support level dating back to mid July 2012. Next support looks to be 33 on the 2yr chart.

$OMX and $ODP are back in the news again, supposedly $ODP is going to buy $OMX for 13.50 in stock. $SPLS is again up on the news, despite there being no talk about a deal for Staples.

$GOOG will be one to watch again as the stock is up 3.1% or 20pts since this past Thursday.

$SINA is trading higher after earnings, the stock closed at 53.40 and looks to open around 57.45.

$KORS closed yesterday at 64.85 but is under pressure in the pre-mkt trading at 62.91 as 25million share offering is announced. These aren't additional shares but existing shareholders selling, including Michael Kors himself. The

Recap from prior day:

$GOOG ripped to new all time highs, to 807. I looked at the 805 calls but didn't buy them... again.

$SPLS sold off then rebounded at the end of the day, the March 14 puts were bought in volume at .25 and hit a high of .55. I could have got in at .30 and rode to .55 rather easily.

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