Luke Warm Start to Earnings, Volatility Returns
By Matthew Buckley
In today’s Market Stock Market Financial Report, Matthew “Whiz” Buckley, Founder of Top Gun Options and the Manager of the Primary Model Portfolio, covers the initial round earnings from AA, COST, CMI, and YUM.
He says, “The market is pulling back on these initial tepid results and waiting for today’s release of the Fed’s Beige Book. A lot of Fed members are scrambling for cover after QE3 Infinity, so it will be interesting to see if they were ‘on the record’ from the get go.”
He also covers a bullish trade on Brazil via EWZ. After the IMF singled out Brazil as only one of two countries projected to see positive growth over the coming year, he takes a look at the two events that will power Brazil’s economy and adds a bullish call diagonal to the Model Portfolio –
EWZ Open Buy 10 Oct12 55/Jan14 42 Call Diagonal @ 13.19 Limit
The Model Portfolios have seen more than $8,000 in gains in the past 2 days as the market has pulled back.