Friday, March 8, 2013

Friday, March 8th pre-mkt outlook

The /ES looks to open around 1544 after closing at 1544 a day prior. The overnight low was 1535 at 1945hrs and a high of 1547.75 at 0830hrs. Non-Farm payrolls came out on the upside sending the market positive. Furthermore, the bank stress tests were posted yesterday AMC with 17 out of 18 banks passing the stress tests.

$P is trading higher after earnings were released yesterday AMC. The stock closed at 11.52 and traded at a high of 14.89 in extended hours and looks to open around 14.70.

I think that some of the momo stocks could rock today off the overall positive market vibe this morning. I could see $GOOG ripping higher as well as $GS. Today could be one of those pick a call, any call kind of days.

*Missed from yesterday*

$NAV - squeezed the snot out of the shorts yesterday after earnings opening at 28.50 and hitting a high of 32.30 after closing a day prior at 24.90. I can't believe I didn't think to play that to the long side with calls, the jump in the pre-mkt had me concerned it would sell off on the open but I didn't realize how much short interest there was in the name.

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