OPTIONSMART MORNING UPDATE: Extended losses on profit-taking
October 27th, 2009 at 8:20 pm
|
|
OPTIONSMART MORNING UPDATE: Extended losses on profit-taking |
||
|
1. OUTLOOK: Despite IBM's strength, many large-cap tech stocks plunged following downside guidance from Internet search engine Baidu. A surprisingly weak reading on consumer confidence weigh on the market. However, the upward momentum is still significant. Notably, QQQQ's implied volatility little changed. This pullback is expected to be short-lived.
|
|||
|
2. TRADING OPPORTUNITY: Buy dips |
|||
|
3. OUR FREE
QUARTERLY TRADING RECOMMENDATION AUTO-TRADABLE WITH
PARTICIPATING BROKERAGES:
to be published in
January.
CURRENT OPEN POSITION: DIA Jan 95/98
debit call spread (bought @2.25 on 10/20/09, target
2.50)
MOST RECENT CLOSED
TRADE:
|
|||
|
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. |
|||
|
5. SPECIAL OFFER:Tap into QQQQ PIcks's remarkable win ratio - 97% (116 of 120) winners since 2003! Save 10% on recurring subscriptions by entering coupon code 1141 during checkout (expires on October 30, 2009). New subscribers only.
|
|||
