Off to the races


After the Open... Traders are apparently viewing last week's slight price declines as a buying opportunity, for money is surely moving back into stocks this Monday morning. The Street is giving the pundits a lesson in the power of whispered numbers this morning via ( KORS ) stock. Michael Kors had an excellent quarter on paper, beating the Street's consensus EPS estimate, posting higher than expected same store sales growth and forecasting higher annual revenue as well. Many assumed these results would cause KORS stock to rise, but they weren't what traders were hoping to see, and KORS is down nearly 5%. Well, well, well. You can never tell.

Here are your Monday morning market metrics. Industries doing well today include Auto Components, Automobiles and Household Durables. Industries showing weakness include Gas Utilities, Multi-Utilities and Electric Utilities.

The VIX is down 4.6% to 16.24 after closing on Friday at 17.03, which is higher than it has been in some time. Quicksilver ( ZQK ) options are the most actively traded today, with 7,500 January 3 puts changing hands, which is significant only because it represents orders of magnitude less money changing hands than is typical for the morning's biggest options trade. The put-call volume ratio is 0.94, (217,376/205,180). NYSE Adv/Dec 1,694/1,046. Nasdaq Adv/Dec 1,606/657. [InvestorsKeyhole, various news and data sources]

Julian Close has been a business writer since the first day of the twenty-first century, having written for PRA International and the United Nations Department of Peacekeeping. He graduated from Davidson College in 1993 and received a Master of Arts in Teaching from Mary Baldwin College in 2011. He became a stockbroker in 1993, but now works for Fresh Brewed Media and uses his powers only for good. You can see closing trades for all Julian's long and short positions and track his long term performance via twitter: @JulianClose_MIC .

This article was originally published on

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

This article appears in: Investing , Earnings

Referenced Stocks: KORS , ZQK

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