Friday, July 26, 2013

Friday July 26 pre-mkt outlook

The /ES is trading down around the overnight low of 1676 in the pre-mkt after closing yesterday at 1685. The overnight high was 1689. The low from a day prior was 1671.

The 10yr yield is pushed down to 2.55 from 2.61 yesterday

$AMZN is out with earnings which disappointed. The street was looking for EPS of $0.05/share (would give stock a PE of 6000), but it came in negative at -.02/share. It also issued a cautious outlook for the next quarter as well. The stock closed at 303, hit a low of 286 in ETH and traded in a range of 294 to 300, favoring the 294 area. It's currently trading around 298. Idea: buy $AMZN 295 or 290 puts depending on where it opens.

$EXPE closed at 65 yesterday and is trading down 23% at 49.85. $PCLN almost trades in lock step with $EXPE on earnings day, and is down 3% at 887 after closing at 912 yesterday. PCLN hit support at 871 in ETH last night which is key support for it, otherwise it has a gap to fill to 850. Idea: Buy $PCLN 880 puts

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