Trade Ideas — $ADBE, $PENN, $HUN, $IWM, $WPZ, $PFE

October 30, 2016

Need some trading ideas to get the week started? We’ve got you covered! This is our weekly issue October 31— November 4 where we go over macro economics, economic calendar, upcoming earnings and list a few trade ideas.

Market

The market continues its overall volatility as the 2016 election draws closer. Economic reports last week showed growth acceleration for the 3rd quarter. Consumer confidence slowing slipped a little.

$SPY is near its 2-month support of $211, chart analysis is suggesting a downtrend, and a 110 P/C ration (very high for Puts). Oil continues its value fall with $USO signaling strong sell in analysis with .6 P/C suggesting most feel oil can recover in the short-term. $GLD has buy signals with a .2 P/C ratio.

Economic Calendar

Earnings Calendar

$ADBE — Adobe Systems Incorporated

$ADBE is trading at $106.50 support. The company has been in the news for stating this holiday season will be good for retailers.

Catalyst — Technical trade.

Trade — BUY $110.00 November 18, 2016 Calls.

$PENN — Penn National Gaming Inc.

$PENN had a record profit beat at ER 10/26/16. The stock is also trading at $13 support. The ER beat may be enough to end its downward price channel pattern.

Catalyst — After ER trade.

Trade — BUY $13.00 November 18, 2016 Calls.

$HUN — Huntsman Corporation

$HUN had its ER 10/28/16 with a profit beat of $.02 and a revenue miss. The stock jumped and I think it did so too joyfully. The $17.50 resistance was tested and held. Watch the upward price channel continuation and $17.50 resistance before entry.

Catalyst — After ER trade.

Trade — BUY $18.00 November 18, 2016 Puts.

$IWM — iShares Russel 2000 ETF

The volatile market has been punishing the Russell 2000 stocks. Chart analysis shows sell signals for the $IWM ETF with liquid option volume.

Catalyst — Technical trade.

Trade — BUY $118.00 November 4, 2016 Puts.

$WPZ — Williams Partners L.P.

$WPZ has its ER before the bell this Halloween. The company has a history of ER misses. Chart analysis shows a downtrend developing. Watch option volume before entry.

Catalyst — ER 10/31/16 BO.

Trade — BUY $35.00 November 18, 2016 Puts.

$PFE — Pfizer Inc.

$PFE has its ER this week. I’ve been watching option volume last week and noticed quite a bit of Call activity. Biotechs have been falling the past couple of months leaving $PFE as no exception. An ER beat could spark a nice short-term bounce.

Catalyst — Unusual Call volume and before ER.

Trade — BUY $32.00 November 4, 2016 Calls.

Happy trading!


Disclaimer

This is not an investment advisory, and should not be used to make investment decisions. Information in All Things Stocks is often opinionated and should be considered for information purposes only. No stock exchange anywhere has approved or disapproved of the information contained herein. There is no express or implied solicitation to buy or sell securities. The charts provided here are not meant for investment purposes and only serve as technical examples. Don’t consider buying or selling any stock without conducting your own due diligence.

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