joining us now, tim biggam of tradingblock. happy wednesday, tim. - happy wednesday, angie. thank you. - there are major earnings in focus this week. i'd love to hear some of your strategies. let's talk about wells fargo first. this one is very much in focus. - absolutely. wells and j.p. and the other banks, you have to be aware of loan-loss reserves. that's a way that they can kind of bring the earnings forward to kind of meet expectations here. so, with a lot of the banks, you have to almost pull that loan-loss reserve out, so look at what's called the "organic" or the actual earnings. given the fact that interest rates have shot up here, i look for earnings to maybe be lukewarm. and with the prices running so hard in front of it, i look for somewhat of a muted response, if any, to the earnings on both wells fargo and jp. - all right, the financials have rallied, so let's take a look at the chart here. so wells, where is this stock likely to go post-earnings? - you know, unless we really have a great, organic beat - again, without that loan-loss number - i would look for t

it's a short trading week, but there are stocks you might want to go long on according to tim biggam. he's on the trading floor at cboe with us this morning. good morning, tim. - good morning, angie. - i'm starting with apple. i know a lot of people are long this stock already. they're holding on. what should they do with their apple positions? - i kind of like apple down here. certainly i am a value guy, and that $390 level, technically, has now held three times, and you're still looking at valuation of almost 8 on a forward pe - forget about the excess cash part of it - and yielding right around 3% at these levels. so, given the fact the market is trying to push to all-time highs but apple is really trading at almost recent lows here, i kind of like stocks like apple going forward. i think they will be relative out-performers here. if it can break through that $420 level technically, i think there's a little room to run on it. - what does that mean precisely when you say it's held on to that $395 three times? what does that tell you as a trader? what does it signal? - that means tha

tim biggam of tradingblock joins us on this friday for a look at microsoft and yahoo. tim, good morning. - good morning, angie. - back in the day, as in not too long ago, both of these stocks were stagnant, but they are starting to move again. let's start with microsoft. it's in the news. what do you see in the charts for microsoft? - microsoft certainly in the nasdaq heyday was one of the four horsemen, but really has fallen on hard times. finally got moving a little over six months ago, and i think it has room to run here, probably another 5-6% upside. certainly on a comparative valuation basis this is not an expensive stock, and you've got a nice dividend yield, plus you always have that stock buyback program in microsoft, which is immense, so, a lot of support underneath this stock. i think another 5 to 7% is in the cards over the next year or so. - and what about yahoo? this is another one that gained speed. forever and a day it was trading around $14, then $16. now, the options market is indicating that this stock could start to get closer to $30. what do you see

we are starting our morning with trader tim biggam, who is our star trader of the day. he is on the trading floor at cboe. good morning, and i'm wondering what summer trends you suspect will be happening in this market, especially with job growth and what's been going on with the economy. - absolutely. it's almost, i think, kind of a summer non- trend here. i think it will be somewhat range-bound over the summer, "big range, no change," i call it. that 1650 level to the upside in the s&p i think will kind of be a ceiling, tough to get through there. conversely, that 1550 level that we hit a couple weeks ago to the downside, there probably will be some good support around there, buffered by the fed coming in and still doing their monthly p.o.m.o. to support stocks. but valuations getting a little bit stretched if we head higher, so i look for kind of a trader's market, where you want to be selling rallies, buying dips. - what are you seeing as far as hedging, and is there a real need to hedge in this current market? - it's always good to hedge, and a good way to hedge in