Q2 STOCKS TO BUY

Dow Jones Industrial Average Dip Doesn't Derail Stellar October

Has the VIX Dropped Too Far, Too Fast?

Oct 30, 2015 at 11:58 AM
facebook X logo linkedin


The Dow Jones Industrial Average (DJIA) is struggling to pick up steam, as speculators weigh the latest earnings and economic data. On one hand, Exxon Mobil Corporation (NYSE:XOM) and Chevron Corporation (NYSE:CVX) are both cautiously higher after earnings, and the Chicago purchasing managers index (PMI) rebounded into positive territory in October. On the flip side, consumer spending increased by the smallest margin in eight months in September, and personal income rose by the slimmest amount since March. Nevertheless, October has been kind to the Dow and its index peers, which remain on pace for a fifth consecutive weekly gain, and their best month in four years.

Continue reading for more on today's market -- and don't miss:

 


151030MMC

Among the stocks with notable option activity is Valeant Pharmaceuticals Intl Inc (NYSE:VRX), which is down 9.2% at $101.26, as traders weigh a conference call from Bill Ackman and the company's decision to cut ties with Philidor. Intraday option volume is running at almost triple the average clip, and puts are outpacing calls. It looks like some last-minute bears are betting on VRX to breach the century mark before today's close, buying to open weekly 10/30 100-strike puts.

One of the NYSE's top performers is professional networking name LinkedIn Corp (NYSE:LNKD), which is up 13% at $245.02 on solid earnings and upbeat analyst attention. The shares are now trading in territory not charted since before their May bear gap, barreling through resistance in the $220-$230 area. This neighborhood has contained LNKD's rally attempts for the past few months, and is home to the equity's 200-day moving average.

151030MMC_LNKD

Among the leading losers on the Big Board is satellite imagery provider DigitalGlobe Inc (NYSE:DGI), which has plummeted 24.7% to $14.98 -- and earlier touched a three-year low of $12.41 -- after the company reported unimpressive third-quarter sales and cut its full-year revenue forecast. The downbeat data prompted a downgrade to "market perform" at Raymond James, as well as a trio of price-target cuts. DGI is now more than 51% lower year-to-date.

The
CBOE Volatility Index (VIX) is up 0.1 point, or 0.6%, at 14.69.

Today's put/call volume ratio on the SPDR S&P 500 ETF Trust (SPY) is 1.27, with puts having the edge over calls. At last check, SPY was 0.1 point, or 0.04%, lower at $208.75.


CHART



CHART

CHART
CHART
 
 

“Buy This Stock Now!” - Expert Who Called 11x On TSLA

He called a rare 11x on Tesla…

But now, thanks to Elon & Trump’s new alliance…

He says there’s a new opportunity that could be 1,000x BIGGER than Tesla – and it could completely revolutionize a $23 Trillion market.

It’s trading for less than $5 per share right now…

But it won’t be under the radar for long.

Discover The 1,000x Bigger Elon Opportunity Here

GRAND SLAM COUNTDOWN

 
 

Featured Articles from Trusted Partners:

👀Learn How Dividends Create Passive Income for Life
Receive $200 Off Motley Fool Epic. The Motley Fool Epic $299 discounted offer is based on $499/year list price. Introductory promotion for new members only. Take control of your money and your portfolio with Motley Fool Epic.

💵New Income System Could Pay You $4,243 Monthly
You could collect an average of $4,243 per month starting as early as next week with a new payout system for income investors. New registrations are being accepted for investors who want to be in a position to start with their first payout next week.

🚀Easy 92% Crypto Dividends (No Coins Required)
COIN stock doesn't pay a dividend... But there's actually a new way to collect a massive dividend that's indirectly based on the stock and offers a terrific monthly income (currently yielding nearly 92% on a forward basis).

🤝Free Advisor Match with Wiseradvisor.com
Don't leave your retirement to chance! Get matched with a trusted financial expert for FREE and make the most of your tax refund. Get started now.

⚠️Dennis Quaid's #1 Warning for Americans
Here's the thing: life doesn't come with guarantees. The economy shifts, markets stumble, and years of hard work could slip through your fingers like sand. But it doesn't have to be that way for you. So request a free copy of this Gold & Silver Guide that will arrive right to your doorstep when you act now.

 

 
 

Follow us on X, Follow us on Twitter