Mid Day Trading Update – Alcoa Kicks Off Earnings
The following article is from one of our external contributors. It does not represent the opinion of Benzinga and has not been edited.
Folks, it's that time of the year again where we analyze all publicly traded companies and make bets on how their quarters went and what the reports could mean about the future of their business. Q1 Earnings season kicks off with Alcoa tonight and we do have some high-profile bank earnings coming out later this week. For you intraday traders, make sure you know when the companies on your main watchlists are reporting and be prepared to trade the juice that is likely to ensue shortly after. We here at Sanglucci.com, don't actually put on positions prior to an earnings report being released and find it be to much of a gamble.
The sentiment in the markets today is somewhat bearish but we're basically chopping around breakeven territory for the indexes. Many sectors are in the red, however, and this trend could continue if the S&P doesn't start heading towards that all-time high. Solid bank earnings could be the catalyst for this rally, but only time will tell.
With this chop environment, it's tough to find solid daytrades that are moving with the conviction needed to make money long a physical option. Selling calls was a solid trade idea for many of the large-cap tech names that have been moving as of late. Priceline (NASDAQ: PCLN) , Google (NASDAQ: GOOG), Netflix (NASDAQ: NFLX), and Apple (NASDAQ: AAPL) are all experiencing unusually weak tapes. Selling calls is the best way to capitalize on the low-liquidity, light volume environments we are seeing now.
As you can see we flipped websites and hope you enjoy the new layout. There are many more edits we need to make but we are confident the site should be all set by the week end.
Stay tuned for more updates!
Sign up to receive updates from Sang Lucci
Other articles written by this Author
- Benzinga Options Outlook for the Week of July 8: Sentiment to the Long Side
- July 2nd Watchlist: Amazon in the Spotlight
- Mid Day Trading Update – Fiends For The Internet
- July 1st Watchlist : Gold, BlackBerry, and Apple on Watch
- Benzinga Options Outlook for the Week of July 1: Not a Delta One Trader's Environment!
Brain Trust Articles
- Benzinga PreMarket Info Recap for July 9: Alcoa Doesn't Disappoint!
- Benzinga's PreMarket Info Recap for July 8: Tesla Breaking Out to New Highs
- Benzinga's PreMarket Info Recap for July 5, 2013: The Bull is Back!
- Benzinga's PreMarket Info Recap for July 3, 2013: Don't Place Bets You Can't Win
- Benzinga's PreMarket Info Recap for June 28, 2013: Russell Rebalance Edition