OPTIONSMART MORNING UPDATE: Bottoming out
October 6th, 2009 at 7:44 am|
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OPTIONSMART MORNING UPDATE: Bottoming out |
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1. OUTLOOK: A better-than-expected reading on the services sector of the economy bolstered the broad-based gains. Bank stocks led the advance. Alcoa unofficially begins the third-quarter reporting period Wednesday. Among stock movers, Brocade Communications rallied almost 20% in unusually active trading on reports that it has put itself up for sale. Both Hewlett-Packard and Oracle were cited as potential buyers. Market breadth was positive. QQQQ's implied volatility plunged almost 10% as large traders dumped protective puts. U.S.futures point to a higher open.
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2. TRADING OPPORTUNITY: Buy the market on any weakness |
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3. OUR FREE
MONTHLY TRADING RECOMMENDATION AUTO-TRADABLE WITH
PARTICIPATING BROKERAGES:
to be published in late
October.
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4. WISDOM NUGGETS: Some traders consider trading as a sort of gambling. Without planning and calculations, they throw money at the market. They should distance themselves from gambling behavior. Why a scientific approach is applicable? Markets echo similar patterns over and over again. |
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