Daily Wrap-up - A 30-Point Gain for the Dow Jones Industrial Average

Tags: DJIA
26 Nov 5:34am
Posted by SchaeffersResearch
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The day ends with the Dow Jones Industrial Average (DJIA) showing a gain of 30 points. The S&P 500 (SPX) and Nasdaq Composite (COMP) posted small gains as well while the Russell 2000 (RUT) was flat. The Amex Gold Bugs Index (HUI), US Oil Fund (USO), and Natural Gas Index (XNG) led while the Regional Bank HOLDRS (RKH), Russell 2000 (RUT), and Broker/Dealer Index (XBD) lagged. Regular readers of this space can probably guess my curmudgeonly response to the day's action. My midday post t...
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Bearish Speculation Rises as MGM Mirage Approaches Resistance

Tags: MGM
26 Nov 4:28am
Posted by SchaeffersResearch
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Skepticism surrounds MGM Mirage (MGM), judging by an uptick in put buying on Tuesday. During the course of the session, traders on the International Securities Exchange (ISE) bought to open 1,411 puts on MGM, compared to 202 calls. Most active was the December 12 put, where 1,262 contracts crossed the tape. Accordingly, open interest at this strike rose overnight by 968 contracts, and now stands at 17,232 puts. The day's put-skewed activity was actually a deviation from the norm for ...
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Petrohawk Energy Corporation Snaps Its Short-Term Slump

Tags: HK
26 Nov 3:40am
Posted by SchaeffersResearch
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Petrohawk Energy Corporation (HK) scored a slew of option volume on Tuesday, with call activity surging to three times the usual level. During the course of the session, traders on the International Securities Exchange (ISE) bought to open 6,006 calls on HK, compared to 106 puts. In fact, speculators on this exchange have rarely shown a greater appetite for bullish bets on HK. The stock's 10-day ISE call/put volume ratio arrived today at 21.90, which ranks higher than about 98% of oth...
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Incyte Corp - One to Watch

Tags: INCY
26 Nov 1:45am
Posted by SchaeffersResearch
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As I noted below, there are some stocks on the move. One to watch is Incyte Corp (INCY). As the daily chart below shows, the stock is trying to break above its recent peaks. This puts it at a new annual high. Open interest is light and the jump has the stock trading above the peak front-month call strike. Though, there is some volume at the 10 strike today that might be a strike to watch. Another point to keep in mind is that short interest is relatively high. According to data co...
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Midday Market Check - The Dow Jones Industrial Average Gains 35 Points

Tags: DJIA
26 Nov 1:10am
Posted by SchaeffersResearch
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We head into the second half of the session with the Dow Jones Industrial Average (DJIA) sitting on a minor gain. As you might expect ahead of a holiday, the action is somewhat sluggish. The Dow has traded in a low-to-high range of only 60 points and the current gain of 35 points does little more than erase the 17 points yesterday. The S&P 500 (SPX), Nasdaq Composite (COMP), and Russell 2000 (RUT) are also showing very minor advances. Today's strongest groups are the Amex Gold Bugs Ind...
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SchaeffersResearch

Schaeffer’s Investment Research, founded by Bernie Schaeffer in 1981, is a research-driven provider of investment research and recommendations featuring a unique, time-tested analysis of investor expectations. Schaeffer's contrarian approach, called Expectational Analysis®, focuses on stocks with technical and fundamental trends that run counter to investor expectations. The firm publishes Bernie Schaeffer's Option Advisor, the nation's leading options subscription publication and it's website, www.SchaeffersResearch.com, is recognized as one of the leading information sources for stock and options traders and was cited as the top options website by both Forbes and Barron's.

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