March 6 Friday Morning Outlook

Gainers:
YY: 9.5%, 250k - Earnings
CSIQ: 4.5%, 150k - GS Upgrade
QIHU: 2.8%, 20k
BAC: 2.75%, 4.4m - Bank stress test results
AAPL: 1.7%, 1.3m - Reports of it entering the DOW

Decliners:
LULU: -3.3%, 18k - GS Downgrade
AZN: -1.6%, 111k
T: 1.5%, 1.3m - Booted out of the DOW to make way for AAPL

There isn't too much I'm really interested in this AM, so this is a bit of week in review recap:

LULU is getting smoked this morning on the back of a GS downgrade. Of course yesterday it had a takeover rumor which sent shares spiking from 65.50 to 67, only to see it close at the lows of the day at 64.85. STX had a takeover rumor on Monday as well, and that actually had a bit more of a sustained run than LULU. STX popped from 61 to 63, then got faded to close at 61.50. The next day it hit a low of 58, then the following day it made a new low of 57.23. SLW got knocked -5% on Tuesday on news of an offering that the banks involved couldn't find buyers for. It opened around 20.20, and closed at 20. It's been weak ever since and is currently trading at 19.11 in the pre-mkt.

Of course the only straddle/strangle I was able to enter this week was BBY. That thing has been pinned like a mofo since earnings. Its average move was 5% and the smallest move its made after earnings was 2.49%. The friggin thing has made a move of 2%. Meanwhile, pretty much every other issue I looked at for a straddle/strangle got paid. That's how it goes.