eot-position-update-November-26-2014

November 26, 2014

Market Snapshot

Happy Thanksgiving…

I hope you have a great holiday and enjoy the time with friends and family.

The bulls are firmly in control of the market.  There’s no reason to believe the end of 2014 will be any different than what we’ve seen over the last few weeks.

Everything from fundamental data to technical analysis indicates that the end of 2014 should be a good period for stocks.

What’s more, the biggest headwinds for stocks are waning.  Geopolitical tensions are easing and foreign central banks are taking action to boost economic activity.

Not to mention the boatload of hedge fund managers that are underperforming the market this year.  These guys are doing anything they can to beat the market so they can justify their hefty fees.

It’s no wonder bullish sentiment is near a 5-year high right now.

Let’s move onto the updates…

Position Updates

Just a quick note:  Remember, we won’t update every open position every week.  I try to focus on the positions that have some significant news or price movement.

KATE January 16th 2015 $32 Calls
KATE surged to $32.80 yesterday.  And our option reached a gain of 62%.  Analysts and investors are coming to the same conclusion… KATE is poised to have a great holiday shopping season.  There’s more upside ahead for this trendy retailer… continue holding.  Resistance is at $33.00 and $36.00.  Support is at $27.50 and $25.00.

GLOG February 20th 2015 $20 Calls
GLOG announced a great 3rd quarter last week.  As expected, it has jump-started the bullish momentum.  GLOG has broken out of the consolidation pattern and is now on the verge of a major upswing.  Continue holding.  Resistance is at $24.00 and $28.00. Support is at $14.00 and $13.00.

CVX December 19th 2014 $120 Calls
CVX continues to be range bound as investors look ahead to the OPEC meeting tomorrow.  The drop in oil prices is clearly a headwind for CVX.  If OPEC announced a cut in production tomorrow, it should trigger a jump in oil prices and CVX stock.  Look to exit this trade around $122.00.

Category: EOT Update