• 	OPTIONSMART MORNING UPDATE: Downside seen limited
  1. OUTLOOK: The market remained in a "wait-and-see" mode. Home sales fell short of forecasts. The Federal Reserve began its two-day policy meeting with an announcement expected today afternoon. Oracle topped forecasts despite weak sales and profits. The stock rose 3% after hours. However, the market needs more catalysts to bottom out in the near-term. US futures point to a higher open.
  2. TRADING OPPORTUNITY: n/a
  3. OUR FREE MONTHLY TRADING RECOMMENDATION AUTO-TRADABLE WITH OUR PARTNER BROKERAGES: to be published  in July. Current open position (entered on Monday, June 22, 2009): QQQQ Debit Call Spread Long QAVIH Sep 34 Call Short QQQIJ Sep 36 Call Debit 1.32, Target Credit 1.46
  4. WISDOM NUGGETS: Trading is a psychological game. Most people think that they're playing against the market,but the market doesn't care. You're really playing against yourself.
  5. SPECIAL OFFER:  n/a  Diversify your portfolio by receiving more frequent picks and trading alerts. Subscribe to our paid services!

  June 24th, 2009 at 8:01 am

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