| 7.50 | EGHT141122P00007500 | 0.90 |  0.14 | 0.90 | 1.00 | 40 | 569 |
Its my guess that more news leaked about its earnings that are upcoming and there is an advance selloff. Money in our pocket.
Tomorrow early we are going to watch 3M (MMM). I would like to issue a buy a put order today but I can't due to the price action, which either might suggest insider buying action or a crowd overreaction to the helmets order. Here's what is attracting me to the possibility of 3M:
| Prev Close: | 137.60 |
|---|---|
| Open: | 138.40 |
| Bid: | 140.44 x 200 |
| Ask: | 140.45 x 300 |
| 1y Target Est: | 151.14 |
| Beta: | 1.1 |
| Next Earnings Date: | 23-Oct-14 |
| Day's Range: | 138.34 - 140.52 |
|---|---|
| 52wk Range: | 122.50 - 147.87 |
| Volume: | 1,457,641 |
| Avg Vol (3m): | 2,551,980 |
| Market Cap: | 90.98B |
| P/E (ttm): | 19.80 |
| EPS (ttm): | 7.10 |
| Div & Yield: | 3.42 (2.50%) |
Quotes delayed, except where indicated otherwise. Currency in USD.
Headlines
- 3M Announces Upcoming Investor EventsBusiness Wire(Mon, Oct 20)
- Stocks rebound, but investors still waryat USA TODAY(Fri, Oct 17)
- 3M Secures Additional Government Orders for Combat HelmetsZacks(Thu, Oct 16)
- U.S. Government Order Totals 114,000 Enhanced Combat Helmets from 3MBusiness Wire(Wed, Oct 15)
- Post-it Brand Introduces Revolutionary New Post-it Dry Erase SurfaceBusiness Wire(Wed, Oct 15)
- 3M™ Discusses QDEF Technology for Rec. 2020 and Beyond at SMPTE 2014Business Wire(Wed, Oct 15)
- Redesigned Website Helps Electrical Equipment Design Engineers Find 3M Solutions FasterBusiness Wire(Tue, Oct 14)
- Dow Jones (DJIA) Today: 3M (MMM) Higherat TheStreet(Mon, Oct 13)
- The Zacks Analyst Blog Highlights: Boeing, 3M, Barnes & Noble, Chevron and JPMorgan ChaseZacks(Mon, Oct 13)
- Healthy Lifestyles at 3M Attract RecognitionBusiness Wire(Mon, Oct 13)
- New 3M Peltor Tactical Earplug Addresses Top Service-Related DisabilityBusiness Wire(Mon, Oct 13)
Its pretty apparent that 3m has had some pretty awesome news in the last week: They just got a contract for government helmets, they just came out with new post it dry erase surfaces, they made an announcement for their vision of 2020, they fixed their website to make it faster, Zacks talked about them, they showcased a new earplug. Below is the chart on what all the above news had on 3M: Look at the jump over the past week with all the above news:
Now lets take a look at to what got my attention about 3M in the first place: the analysists estimates.
3M is a slow lumbering giant that most likely is not going to amaze anyone when its earnings come out. They might try to sugar coat the future during the earnings call, but its going to probably be uneventful. This may work out to our benefit because the crowd right now is totally roiled up on all the news from the past week, see above, which has caused 3M to really jump upwards.
As a matter of fact, I would recommend puts today, but I can't. If you look at today's candle, there is a gap up. I can;t go against a gap up. But the problem is that it reports in two days. Now is the time to get in with the put. But that big white candle gap up says no.
So this is what I'm going to do: I am going to watch 3M very closely tomorrow for its price action. If I see a slowdown showing a possible short term ceiling or a pause for the earnings, that is when Im going to get in and go for the option put. With this gap up today, I need to see if it jumps in the morning up and then I need to see if it continues to pull upward. It will also be a matter of what the insiders do tomorrow as they leave thier footprints in the price action.
So: early tomorrow....that's when what will be what.
Also come back later today as I will finish my article in part 3 of my day trading: Emotionally Compromised Trading.
Stay Frosty,
Mark
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