OPTIONSMART MORNING UPDATE: Finished on a higher note

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OPTIONSMART MORNING UPDATE: Finished on a higher note

OPTIONSMART MORNING UPDATE: Finished on a higher note

1. OUTLOOK: The Fed’s economic outlook and a positive government debt auction overshadowed a surprise drop in retail sales. Wal-Mart’s better-than-expected earnings report and a spike in financial shares helped support the market.Friday brings reports on consumer sentiment, industrial production and capacity utilization. The QQQQ technical chart looks bullish. QQQQ’s implied volatility dropped to 52-week lows as large traders dump put options and opened bullish positions.

QQQQ chart

2. TRADING OPPORTUNITY: None

3. OUR FREE MONTHLY TRADING RECOMMENDATION AUTO-TRADABLE WITH OUR PARTNER BROKERAGES: to be published in September.

Our most recent Free Pick: QQQQ Sep 34/36 Debit Call Spread: Bought @1.32 on 06/22/09 and sold @1.46 on 07/16/09 with a 10.6% in 24 days!

Current open positions: CSCO Oct 19/21 bullish debit call spread (bought @1.45 on 8/13/09, target 1.70)

Free Picks Track Record

4. QQQQ Enhanced Portfolio Most Recent Trade:

QQQQ Oct 37/39 Debit Call Spread

Bought @1.30 on 8/11/09 and sold @1.44 on 8/12/09 with a 11% gain in one day!

Learn more about this service with a 10% average gain per week-long trade (56 of 56 in 2009)!

5. SPECIAL OFFER: n/a

Diversify your portfolio by receiving more frequent picks and trading alerts. Subscribe to our paid services!

August 14th, 2009 at 7:07 am

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