All posts by Michael Comeau
The Morning Hammer: Ahead of the Fed, Markets Show Fear
Global markets are rallying this morning as commodities rebound and the dollar retraces ahead of Wednesday’s big FOMC rate policy announcement. Traders are pricing in a mere 20% probability of a hike this Wednesday, so traders will mostly be looking for clues to see if the Fed moves in December. Europe is up nicely despite continued weakess […]
Continue Reading -->The Morning Hammer: Is Today a Big Day?
I thought yesterday would be a big down day for the market with yet another string of economic data misses, and I was wrong. Equities were pretty strong yesterday, with nice action in biotech and large cap tech. This morning is another story. Deutsche Bank (DB) said the US Department of Justice is seeking $14 […]
Continue Reading -->Wells Fargo May Be Buyable Soon… and 4 Other Thoughts on Today’s Market
1) Wells Fargo’s Trip Wells Fargo (WFC) is coming under a ton of heat for its fake credit card account scandal, and it looks like it’s about to form a triple bottom with its February and June Brexit lows. I’m putting it on my long radar. I’m sure the company will pay a penalty, beef […]
Continue Reading -->T3’s Take 3: Apple Shines in Mixed Markets
Interested in a Prop Trading Career? Click here to take our short quiz. 1) Mixed Markets After 3 days of big ups and downs, the S&P 500 stayed stuck in first gear today by falling just -0.1% to 2125.77. However, there was plenty of action below the surface. For example, the Nasdaq Biotech ETF (IBB) rose 1.2% on Allergan’s […]
Continue Reading -->Apple Options Breakdown: Traders Can’t Get Enough!
Traders are loving them some Apple (AAPL) today. The stock is ripping up 3.9% on a perfect storm of good news. First, one of the new iPhone 7’s biggest rivals — the Samsung Galaxy Note 7 — has been recalled due to exploding batteries. Yesterday, T-Mobile (TMUS) and Sprint (S) reported huge pre-order numbers, and now there […]
Continue Reading -->The Morning Hammer: The Comeback
Crude oil is up fractionally this morning despite a smaller-than-expected drop in crude oil inventories, as reported by the API yesterday after the close. EIA inventory numbers are due at 10:30 a.m. ET. Bloomberg is also reporting that China is boosting crude oil imports due to declining domestic output. It looks like oil traders are […]
Continue Reading -->T3’s Take 3: Volatility Is Back in a Big Way
T3’s Take 3: Volatility Is Back in a Big Way Interested in becoming a professional prop trader? Click here to fill out our eligibility form. ********* 1) Bulls Give Back Yesterday, the S&P 500 rose 1.5%, the first 1%+ up day since July 8. The bears got their revenge today as the index dropped -1.5% to […]
Continue Reading -->The Morning Hammer: Panic Is NOT Here
Throughout August, the market loved hawkish comments from Fed members. But by last Friday, traders had enough. The sold the market hard on Rosengren’s hawkish commentary. And of course on Monday, they bought the market hard on Brainard’s dovish vibes. Not that this is anything new, but the market truly is bizarro-land. Now, traders are pretty […]
Continue Reading -->T3’s Take 3: Biotech, Fed Chatter Rescues Crying Bulls
1) Bulls Fight Back The S&P 500 fell -0.4% to 2119.12 in the early going, which had traders worrying that we’d see a repeat of Friday’s horrendous action. We also saw early weakness in overseas equities, crude oil, bonds, and gold. However, traders very quickly bought the dip, and the S&P finished up 1.5% at 2159.04. […]
Continue Reading -->If Trump Wins, I’m Buying Mexico… and 4 Other Thoughts on Today’s Action
Learn to Trade From Our Pros This Week: Tuesday 9/13: Dynamic Short-Term Trading With Dave Green Thursday 9/15: Day and Swing Trading Signals You Need to Know – Part 2 (Click here to watch a replay of Day and Swing Trading Signals You Need to Know – Part 1) ******** 1) Biotech Saves the Day The first clue that […]
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