Friday, May 10, 2013

May 10, pre-mkt outlook

The /ES is trading around 1626 this morning after closing yesterday at 1623. It hit an overnight high of 1631 and a high of 1624.50.

$PCLN is out with earnings that beat on both the top and bottom line but the guidance is somewhat weaker than expected. The stock closed at 738, hit a low in the ETH of 701, traded around 715 and looks to open around 737. I don't think this report was that bad and feel like the stock is under priced and think the best odds to play are this week's 740 calls, or one strike higher than where the stock opens.

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