• 	OPTIONSMART MORNING UPDATE: Deeply overbought
  1. OUTLOOK: Energy stocks and materials stocks led gains for the entire session. The International Monetary Fund said that the global recovery may begin early next year, sooner than it had previously expected. Societe Generale raised their target on Apple. Firm said they forecast the iPhone accounts for 28% of total adjusted revenues in 2009E, rising to above 40% in 2012E. Broadpoint AmTech continues to recommend accumulating National Semi. The technical chart looks overbought in the near-term. U.S.futures point to a flat open.
  2. TRADING OPPORTUNITY: n/a
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  4. WISDOM NUGGETS: Bottoms take longer to shape than tops. Greed acts more quickly than fear and pushes stocks to drop from their own weight.
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  September 9th, 2009 at 8:46 am

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