HELE reported record first quarter sales today and the news propelled the stock up $2.00 at the time of this writing to $17.82. Implied vol in July HELE options was over 100% yesterday, indicating a high possibility of a big move. CNBC Million Dollar Portfolio contestants bought a lot of shares yesterday and were rewarded with a nice rally. The record for long bets before earnings releases has been spotty lately. If contestants can take some profits from HELE, it could restore their faith in the strategy. We’re coming up on earnings season, when a lot of large companies report.  AA is kicking it all off today after the close. These stocks might provide some action for the last part of the contest.

Oil is lower today, despite a bit of saber-rattling by Iran. The dollar is also a bit stronger against the euro and yen. Unfortunately, though, a lot of the contest’s widely held stocks are weaker with only two weeks to go in the contest. IVAN, LVLT, ESLR, CC, CDE are all down sharply, with SOLF down over $6.00 in 6 days. What a heart breaker. Will a massive rally come in time to rescue the contestants?  Or will more worries drive the market lower?  Tune in next time to find out!

Tom Preston, thinkorswim, Inc.

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