Dow, S&P Retreat; Nasdaq Headed for 7th Straight Win

BA and INTC have turned up the heat on the Dow

Mar 12, 2018 at 11:57 AM
facebook twitter linkedin

Payrolls-related tailwinds helped boost the Dow Jones Industrial Average (DJI) to a triple-digit lead in early trading, but the lingering optimism toward last Friday's jobs data has since evaporated. At last check, Dow was down more than 100 points -- pressured by big drops for Boeing (BA) and Intel (INTC) -- while the S&P 500 Index (SPX) has also turned lower. Meanwhile, the Nasdaq Composite (IXIC) is keeping its head above water after topping out at a record high earlier, and is on track for a seventh straight win -- which would mark its longest daily win streak since October.

Continue reading for more on today's market, including:

  • Analyst targets two-year highs for this mining stock.
  • Citron Research: Short this FAANG stock.
  • Plus, M&A buzz boosts Oclaro options volume; and 2 volatile penny stocks.

midday market stats march 12

Among the list of stocks with unusual options volume today is Oclaro Inc (NASDAQ:OCLR), with roughly 14,000 contracts traded -- 10 times what's typically seen at this point in the day. OCLR stock is up 26.8% at $9.95, after Lumentum Holdings (LITE) agreed to buy the fiber optics specialist. The January 2019 10-strike call is most active, and it looks like traders could be buying the options to close.

Marathon Patent Group Inc (NASDAQ:MARA) is near the top of the Nasdaq today, after the patent acquirer has started bitcoin mining operations at its facility in Quebec, Canada. At last check, MARA stock was up 28% at $1.96, but is running out of steam near familiar resistance at its 10-day moving average.

daily mara chart march 12

Anthera Pharmaceuticals Inc (NASDAQ:ANTH) is the worst stock on the Nasdaq today, after the autoimmune diseases specialist said it would stop developing its lead drug, Sollpura -- which sought to treat digesting issues in patients with cystic fibrosis -- after it failed a late-stage study. The company is now going to explore strategic options. A price-target cut to $0.50 from $2 by Jefferies is only adding to the risk-off backdrop, with ANTH stock down 80.6% at $0.51, and earlier hitting a record low of $0.40.


Minimize Risk While Maximizing Profits

There is no options strategy like this one, which consistently minimizes risk while maintaining maximum profits. Perfect for traders looking for ways to control risk, reduce losses, and increase the likelihood of success when trading calls and puts. The Schaeffer’s team has over 41 years of options trading success targeting +100% gains on every trade. Rest assured your losses are effectively limited to your initial cost at the time of making your move! Don't waste another second... join us right now before the next trade is released! 


300x250 - Banner 3 - v1