Watchlist over $50

AAPL
147.52 target $150
POT
91.58 target $100
OXY
67.27 target $70
SLB
55.48 target $60

Even if there is a small profit in this names, you should take them as they come. Market has been running like a cow of a flat rock, it's still a traders market out there. Keep the powder dry. Disclaimer: MCRG may sometimes holds 1-2 day positions in these equitites, this is not a recommendation or solication of securities.

Earnings Here and Gone - GS

Well we got the 5% hit, now it's a wait and see what they say in the conference call at 11:30AM ET. We are looking for a 3%; trading range which would put us at a $154.50 high to $145.50 low at current level. The daily chart is showing a W pattern and if we can take out the $151 level the target range, then we can move higher. 20 and 30 MA support is at $145.

Ear To The Wall: GS - Earnings Time

Well what do we have in store for us next week, interms of earnings in the financial sectors. If was a pretty rough start with Alcoa, we believe that there are no green shoots and the market will play the drop and pop game. Meaning the trending-less day coming into earnings. On Jul 6th our target to the downside was taken out and since then GS has rallied back into the range of $140 $145 per shr level. As of today, GS is resting on the top the breakout pattern created on Jul 9th when BAC analysts said a $170 target is likely to happen. Q2 numbers are suppose to be great, however, buy the rumor and sell the tell.

$135 would a nice level to see again in GS, after the annoucement, in a couple of trading sessions we may see this, it is not in possible to get there.

Baked in earnings range only (Tuesday) of a 5% drop or pop range at current level ($141.87) is $148.96 to the upside, $134.78 to the downside.

Based on past patterns in GS they have done a run and dump on its earning's day, so be carefully and keep the powder dry. Talks of 2nd Stim, Bouses. Stealing of the Secret Sauce, humm. just be careful.

Retailers report weak June sales - AP - 27 minutes ago Escalating job worries and rainy weather dampened shoppers' appetite for buying summer staples like shorts and dresses, resulting in sharper-than-expected sales declines for many merchants in June and increasing concerns about the back-to-school shopping season.

US jobless claims at lowest since January - AP - 1 hour, 1 minute ago The number of newly laid off workers filing initial claims for jobless benefits last week fell to lowest level since early January, largely due to changes in the timing of auto industry layoffs.

Stocks open higher after Alcoa, jobs report - AP - 21 minutes ago Investors are sending stocks higher in early trading, reassured by Alcoa Inc.'s earnings and some good news on the labor front.

Milion Capital Research Group - Sold to Close
GS - OCT 09 GPYVK 155P at $21.60 +8%

We were looking for the ISM Non-Manufacturing Index at 10PM ET, however the number was positive and did not help us in pushing GS lower from the open. Also, due to light volume, we should've excepted a bounce up and then a continuation of direction in trend. GS was bouncing around like a ball. We (could've-should've) taken open morning profits as the market for GS was down by a full point and change. Any profit is better than a loss. There appears to be more room to the downside for GS. Looking to re-enter on the short side of GS, however, options expiration and earnings are due next week sometime, conference call on 7/16. Let's see where the ball bounces to next. Downside target of $140, and upside $145.

Earnings season is upon us on Wednesday.

Milion Capital Research Group - Sold to Close
GS - JLY 09 GPYSM 165P, at $21.55 +2%

“Oh what a tangled web we weave, When first we practice to deceive”

The Rising Mountain of Debt May Be the Next Crisis

The Founding Fathers left one legacy not celebrated on Independence Day but which affects us all. It's the national debt.
'We're in the Middle of a Crash': Black Swan
Loan Collateral: Your Soul
SEC May Reinstate Rules for Short-Selling Stocks
Major Nations Should Back the Dollar: Japan
Earnings Season: A Likely Game-Changer
US Home Prices Seen Plunging 40% Overall: Analyst
OPEC President Says Is Satisfied with Current Oil Price
Divisions Dominate as Third Quarter Begins

A Day at Wimbledon '09
Big Kickbacks to Austrian Banker in Madoff Case?
Private Equity Slams Proposed Banking Rules
Market Insider: A Look Beyond the Holiday
Slideshow: Best-Selling Fourth of July Fireworks
Supermarkets Prepare for Post-Recession World

We'll we have a short trading week, as July 4 is on Sat., so that means the US markets will be closed on Friday. We have a packed filled week of EcoNews to go thur and with with appears to be light volume on the menu due to the many people will be take off trades and go on their vacations early, it should be a wild ride, to say the least.

GS earnings are comming up in July so, we may see the $150 per shr level pretty soon. Resistance is at $148 level, we need to get thur that stuff to shoot higher. GS did and is near a 9 month high, so let go and do this, man!!

Watchlist Under $5

FED notes nothing has changed and the markets acted like they should have "Buy the Rumor, Sell the Tell". We were up in the early morning session, but did not use a trailing stop and paid for it (14% to a 4% gain for the day). In GS fashion, they have a tendancy to give most if not all of its daily gains back in the afternoon, with a "buy" program whipsaw ya'll in the end, lol.

New plan of attack, mental stops always . . . Next up the Chairman and Unemployment Claims at 8:30AM to 10:00AM ET

Milion Capital Research Group - Sold to Close
GS - JLY 09 GSGB 110 C at $32.50 +4%

GS moves its earnings announcement for Q2 again, to 13-Jul-09 - 23-Jul-09. What a way to go (DO IT) if the FED, EOQ and Payout of Large Bounses are due . . .

EcoNews

There is about 45 mins left in this market and we are dropping through lows, from the market open. GS is stepping on the gas to the downside and has not let up. We were able to close position on the downside from Friday's trading active. Two-Day FED Meeting starts Tuesday with the results on Wednesday is the news from the FED and let see what will happen to the financials.

Update: Markets closed down -200 points with the financial sector closing down 6%. We left .80 cents on the table for leaving the party early, looking to get back into the short side of this trade. May have to wait as earnings and FED are due. Humm!! :P

Milion Capital Research Group - Sold to Close GS - JLY 09 GPYSM 165P, at $27 +14%

Futures pointed to an higher open morning and that is what we got, however, the market is lack luster today as we are in options expiration mode. Volume is non exist, lots of whipsawing. SPY ran up into resistance of its 200MA on the 10MIN chart and has been trading sideways to lower all day. GS is also ran back into its 200MA and has been dropping lower to $141.79 . . . Dow just went neg and all others are still pos as of 12:24:24 EST.

GS is coming into its 200MA; which is major resistance for the stock $143.90. If we could just close above the 200MA; we believe this stock could reach $144-$150; by tomorrow's close on options expiration Friday. The Dollar (UUP) is currently spiking up and the market has pulled back slightly, at this posting time. So with about 1 hour left to go to the close. Let's see, if the market can hold on to its day's gains. Dollar spikes makes the market give up gains. Stay tune.

Geithner hearing on bank reforms is postponed

WASHINGTON (MarketWatch) -- Scheduled testimony by Treasury Secretary Timothy Geithner on Thursday afternoon has been postponed, the House Financial Services Committee announced. The hearing was postponed due to a series of floor votes, the committee said. It will be rescheduled at a later day. Geithner testified earlier in the day at the Senate Banking Committee about the Obama administration's proposals to reform the regulatory structure over the financial system.

Humm!! Two big items on the board for next week, possibly did not want to scare the market to the downside and maybe get a better price on the Treasury Notes.

Bernanke agrees to testify June 25 on Merrill deal Thu Jun 18 17:17:40 GMT 2009
Treasury to sell $104 billion in notes next week Thu Jun 18 15:02:08 GMT 2009

GS closed below our target price of $140 per share, we now look forward to seeing what will happen in the next couple of days. Major support level for this stock is at $139.55; if this does not hold then we are looking for $133.00 as next level of support.

We have two days (Thursday and Friday), options expiration day on Friday (especially). The $140 strike price is the closes to the pin and it may hoover around the area until options expiration day on Friday, also GS has paid back TARP Program monies, which will be a hurt to the 2nd Quarter numbers. However, we believe this maybe a good thing for the company. Also, new rules financial rules, also, will way on the stock. But GS has already figured it all out, they possible wrote most or all of it. LOL. GS after-hours steady, for now, at the time of this post.

Earnings are due in the next couple of days.

EcoNews

This is the moment of truth for the financial markets as we know it, heading into Wednesday. Pres. to come down with some rules and GS is not like it one bit. Also, with the TARP payback approved it will hit their bottom line. We see GS under $140 per share by friday, however we also are covering the long side just in case of something else happens. Mutual and Hedge Funds will be cleaning up their statement for the end of quarter, to clients.

GS closed at the 20MA and June 17, 2009 is the day for earnings announcement, however, we think that the may delay, even thou it is after market close on Wednesday. Lots of things happening this week. No prop programs came in at the last few min. of the market so. We will see what transpire in the come days of options expiration on Friday.

Battle of the Minds and the markets move on. Down 130 to close +1 and come change, what is really go on with the markets. We are still cost averaging with GS and place a hold on new picks and buys. Swings are wild and Jokers are not.