Morning Futures - Watchlist

Current Watch for April 09, 2010:

EOD Trading

Horse Players

Track Horse Bet Payoff Paid
Aqueduct - 6 6 Chromospere $2.30 $28.75
Keeneland - 6 Captin Canuck $0.00 ($25.00)
Aqueduct - 7 9 Grace And Courage $2.90 $36.25
Aqueduct - 7 7 Fiona Storm $2.30 $28.75
Keeneland - 7 8 Grassy $3.20 $40.00
Aqueduct - 8 5 Telemachus $0.00 ($25.00)
Keeneland - 8 5 Witty $0.00 ($25.00)
Total $58.75
Total Inv. $150.00
ROI 39.17%

Mid Afternoon- Update

AMD Advanced Micro Devices Inc. 9.66 9.4 -2.69%
MS Morgan Stanley 30.02 30.71 2.30%
AUY Yamana Gold, Inc. 10.68 10.57 -1.03%
ABX Barrick Gold Corporation 40.7 40.84 0.34%
GG Goldcorp Inc. 39.87 40.01 0.35%
HGSI Human Genome Sciences Inc. 32.35 32.67 0 .97%
FSLR First Solar, Inc. 126.6 125.93 -0.53%
GOLD Randgold Resources Ltd. 83 82.48 -0.63%

Morning Fututres - Snapshot

Looks like we are heading lower this morning. Initial Jobs Claims in about 20 min will be announced.

AMD	Advanced Micro Devices Inc.	Technology	9.66
MS	Morgan Stanley	Financial	30.02
AUY	Yamana Gold, Inc.	Basic Materials	10.68
ABX	Barrick Gold Corporation	Basic Materials	40.7
GG	Goldcorp Inc.	Basic Materials	39.87
HGSI	Human Genome Sciences Inc.	Healthcare	32.35
FSLR	First Solar, Inc.	Technology	126.6
GOLD	Randgold Resources Ltd.	Basic Materials	83

LVS - Updated EOD

Very nice run in the gaming sector today. LVS, WYNN and MGM . . . Still looking for an up move on the properties openings in Singapore at the end of month.

May 21 Call

21.00

LJJ100522C00021000

3.30

1.30

3.40

3.45

860

1,856

LVS - Updated

Well LVS has found some more of its footing this morning. LVS is marching higher at the time of this post and will probably continue to do so into the launching of the new Singapore property. WYNN on Thursday was up a dollar, while LVS was up only .15 cent for the end of trading on Thursday. Friday markets were closed. Lagger LVS and MGM. Hummm . . . We like LVS and WYNN for casino plays into the opens of their properties in Singapore at the end of this month.

May 21 Call

21.00

LJJ100522C00021000

2.72

0.72

2.68

2.72

288

1,856

A very nice return on investment $1.95 initial from Thursday closing price. 10 contract = $730 minus commission. Looking for any major pullback to mid flag range to re-buy options. MGM made a $1.00 run into the opening of Aira on Dec 16, 2009; in Las Vegas, maybe this will be the same effect for LVS and WYNN. Time will tell.

LVS - Marina Bay Sands - Singapore - April 27, 2010 Opening

Updated:


CONSTRUCTION UPDATE – 3rd March 2010

The magnificent Sands SkyPark is beginning to look like a park with more than 20 trees now planted 200 meters in the air. The 150-meter swimming pool is taking shape too.

The hotel rooms have been fitted out up to Level 40. All the tower cranes have been removed from the roofs of the casino and the Sands Expo and Convention Center. Roof cladding on both buildings is nearly complete. Concrete work continues at the two crystal pavilions.

ReCap:

Marina Bay Sands Chief Executive Officer Thomas Arasi said the property is planning for 963 hotel rooms, part of the shopping mall and convention center, celebrity chef restaurants along with other dining outlets and the casino to open on April 27 subject to construction proceeding as scheduled and being able to attain the necessary regulatory approvals.

The second phase, which includes the Sands SkyPark(TM), the Event Plaza along Marina Bay, more shops from the world's leading retailers, additional dining options, and exciting nightlife offerings, will open on June 23 as part of the property's grand opening celebration, Mr. Arasi said. In October, one of the property's two state-of-the-art theatres will welcome Disney's The Lion King.

The second theatre, which will also open later this year, will be home to a variety of special events and famous headline acts. The iconic Marina Bay Sands museum, expected to open by December, will not only feature international blockbuster exhibitions, but it will also serve -- with its unique lotus-inspired design -- as a symbolic welcome to guests from around the globe.

"We are intently focused on meeting our construction time-line and preparing our team for opening and operating this extraordinary destination. We extend our gratitude to the people and government of Singapore for their steadfast support. We are confident Marina Bay Sands will make Singaporeans proud and that it will have visitors from all parts of the world traveling to Singapore to see it themselves."

LVS - MAY 21 CALL

Implied volatility inflates the price of an option’s extrinsic value; i.e., time value. When implied volatility rises, so do option prices because the time value associated with those options is more expensive. Conversely, falling implied volatility produces cheaper options.

If you buy options when implied volatility is high, you run the risk of a subsequent drop in implied volatility and a corresponding drop in the price of your options. As an option seller you can take advantage of the rich implied volatility levels and then buy back the same options after implied volatility subsides.

Buying options when implied volatility is low reduces the chance of a subsequent drop in values and positions you to profit should implied volatility rise.

LVS - Updated

Its 52-week high of $22.49.

LVS - Updated

CNBC did a repeat (three days ago) of an unfavorable story on $LVS and Triad connections in Macau, which caused the stock to drop lower in this very low volume and holiday shorten market week. LVS - needs to hold this lower support line - if it breaks this on heavy volume could see lower prices.

LVS - Updated

Marina Bay Sands, Singapore's second casino complex, is scheduled to open on April 27. It is now being completed by US-based Las Vegas Sands Corp (LVS). Singapore welcomed 9.7 million visitors last year, down 4.3% from 2008, as the global recession hit travel demand, but arrivals have begun to pick up. There were 908,000 visitors in January, up 17.6% from a year ago.

HONG KONG (Dow Jones)--Sands China Ltd. (1928.HK), the Macau unit of casino operator Las Vegas Sands Corp. (LVS), postponed a news conference for a signing ceremony with contractors to restart construction of its massive casino expansion project in Cotai. The postponement raises the possibility the project could face further delays after construction was halted in 2008 at the height of the financial crisis. The company said in a statement Sunday it would provide more details on the postponement "in due course." It declined to give further details when contacted by Dow Jones Newswires on Monday.
The postponement comes amid speculation among analysts that the Macau government has been reluctant to offer substantial quotas to construction companies to employ workers from China as local workers have criticized the government for importing too much foreign labor, contributing to unemployment.

In a recent report, Credit Suisse said the Macau government's labor policy could affect the construction schedule of Sands China's expansion project, noting 10,000 construction workers were previously working on the project and less than 50% of them were from Macau. In February, Sands China President Steve Jacobs rejected media reports that the Macau government had denied the company's request to import labor. Earlier this month, Sands China said it planned to "get into high levels of actual construction" of its casino and hotel expansion project in Cotai in March. The project will be home to the world's biggest casino as well as Shangri-La, Traders and Sheraton hotels. The company said at the time it targeted a July 2011 completion date for the project.

Morning Watchlist

Ticker Price Pre-Market Direction PreMarket Quote ORCL 26.04 -0.3 Down 25.74 ACN 41.52 -0.22 Down 41.3 TIBX 10.61 0.51 Up 11.12 FINL 14.66 0.94 Up 15.6 WTSLA 4.68 0 Unchg 4.68 SMOD 7.16 1.29 Up 8.45

ORCL - Updated

Oracle Corp. (ORCL) said Thursday its fiscal third-quarter net income fell to $1.2 billion, or 23 cents a share, from $1.3 billion, or 26 cents a share a year ago. Revenue rose to $6.4 billion up from $5.5 billion a year ago.

FDX - Updated

Apr 90 Call

FDX100417C00090000

3.30

0.92

2.70

2.75

501

7,348

Apr 90 Put

FDX100417P00090000

1.44

0.51

1.74

1.79

145

4,466

FDX

This was a hard one to get around, as it traded in a very tight range with low volume. Look for demand at 89.95 level. The daily chart appears to be forming a bull flag pole. Gap fill to the downside around 87.30 - 87.35.

Apr 90 Call

FDX100417C00090000

2.46

0.94

2.36

2.41

2,120

7,140

Apr 90 Put

FDX100417P00090000

2.11

0.66

2.09

2.14

97

4,165

SPY - Updated

Markets were in the red all day, which was basis for the USD and HealthCare. Moreover, it was that it was Triple Witching for Options. The SPY found demand at the 115.56 level, trying to make a run to the 116.00 level at close of market.

Apr 116 Call

SPY100417C00116000

1.95

0.27

1.91

1.95

8,709

57,523

Apr 116 Put

SPY100417P00116000

1.85

0.14

1.85

1.90

27,690

74,962

FDX - Updated

FDX was gapping down to a decent support area around 87. In a strong market stocks that gap to longer term support usually have some type of bounce. Although I wasn’t expecting it to run all the way, back filling the gap and then some.

FedEx Corp.

FDX

92.75

2.95

3.29%

87.85

92.96

87.00

12.75 m

FDX - Earnings

FedEx Corporation (NYSE:FDX) also reported earnings. Their results for the fiscal third-quarter earnings more than doubled, topping the company's own estimates. Initially the stock was crushed pre market and on the open. Then a major reversal took place. The stock has recovered its early losses and is now trading flat.

Pre-Market

FedEx Corp.

FDX

87.84

-1.96

-2.18%

884.9 k

SPY - Spiders

Pretty much light volume is floating the Spiders higher.

Stock Market - ML = Morning Line

Futures held steady as the jobs number came out at 2.50; currently a new snap shot shows them at 3.00. Job Data was in-line with the estimates. Loss of 6,000 previous or 2,000 from analysts estimates. We are still in a very tight market range and the S&P 500 - Spiders did break the 115 level, which is a good sign that the sell/short rule is working to prop this market higher.

Overnight Futures - Ready and Steady

Steady as it goes, into that gen-teal goodnight.


Preview Of Stocks To Watch For Monday - Earnings Due:

Starwood Property Trust, Inc.	STWD	After Market Close
		18.63
TIVO INC	TIVO	After Market Close
		16.53

Overnight Futures - Before EcoNews

Mar 04	8:30 AM		Initial Claims		02/27
Mar 04	8:30 AM		Continuing Claims		02/20
Mar 04	8:30 AM		Productivity-Rev.		Q4
Mar 04	8:30 AM		Unit Labor Costs		Q4
Mar 04	10:00 AM		Factory Orders		Jan
Mar 04	10:00 AM		Pending Home Sales		Jan

COST - COST US A GOOD TRADE

Costco Wholesale Corp. reported second-quarter net income rose to $299 million, or 67 cents per diluted share, from $239 million, or 55 cents per share a year earlier and total revenue rose to $18.7 billion from $16.8 billion for the same period a year ago.

Well, we decide to wait a little bit to long to jump into this trade, as the stock gap down and options opened down to .80 and than traded all the way back to 1.85. All this occurred in .50 to 1.00 hr time frame.

Morning Marjor - Scan

Ticker Company Sector Price Volume
GOOG Google Inc. Technology 541.06 4,356,800.00
COST Costco Wholesale Corporation Services 61.38 4,126,100.00
TM Toyota Motor Corp. Consumer Goods 74.42 1,808,600.00
NOVL Novell Inc. Technology 4.75 11,506,700.00
BJ BJ's Wholesale Club Inc. Services 36.47 1,284,900.00
MDVN Medivation, Inc. Healthcare 40.25 1,573,800.00

At the time of this post the market appears to be heading lower to flat, in front of the initial ADP numbers for Feb. Will take a back seat for the numbers to digest with the market.

Options Testing

Gap - GPS

Feb 26 Quote
Mar 21 Call Opened .85
Mar 22.50 Call Opened .15

Mar 1 Quote
Mar 21 Call Closed Even
Mar 22.50 Call Closed Even

Loss/Even

Deck - Deckers Outdoor

Feb 26 Quote
Mar 120 Call Opened 1.60
Mar 125 Call Opened 3.50

Mar 1 Quote
Mar 120 Call Closed 2.35
Mar 125 Call Closed 5.40

Profitable/Gain