Bull & Bear Plays For 9-22-2017

What I’m Watching

Bullish

$AABA – UBS raised price target from $70 to $77
$EBAY – The Benchmark Company raised price target from $40 to $45
$MCD –  McDonald’s Hikes Quarterly Dividend 7.5%
$ACM –  Announces $1B Stock Repurchase Authorization
$WASH – Washington Trust Bancorp Hikes Quarterly Dividend 2.6%

Bearish*

$CMP – Compass Minerals International Lowers FY 17 EPS Guidance
$ICPT – Laidlaw reduces price target from $118 to $90
$MAT – DA Davidson reduces price target from $14 to $13
$CVNA – B. Riley & Co initiated a sell rating with a price target of $12
$X – Cowen downgraded from market perform to under perform, dropped PT from $24 to 20

*Note, a bearish outlook doesn’t necessarily mean I’m considering a short position, I may be looking for it to bottom out before going long.

What I’m Trading

$ES_F – I remain neutral on this beast. CFTC S&P 500 speculative net positions went from 188K last week, down to 101.3K, a blow to bulls, and a win for bears. However, come Sunday afternoon (evening for East Coasters) the above noted CFTC bearish outlook can end up being moot, as in this trap ’em game, you don’t know what’s going to happen with $ES_F, but you should be ready for most set-ups the last 10 years or so have given us; including the changing of directions multiple times throughout the trading day. That’s what I’ve based my algo on.

Here’s what happened in Friday’s ultra-boring 6-point range:

About Raffi Sosikian

Passion for the markets. Bores wife constantly with market talk. Long term value investor. Trader of only one instrument – Spoo (E-mini S&P 500 futures). 20 years experience. Coder. MBA. Now offering private funds/qualified purchasers his $ES_F trading service based solely on performance ($0 management fees).

 

 

 

 

 

 

Leave a Reply