OPTIONSMART MORNING UPDATE: Found support
August 17th, 2009 at 2:22 am|
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OPTIONSMART MORNING UPDATE: Found support |
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1. OUTLOOK:The market managed to cut steeper losses by the close, after a weaker-than-expected consumer sentiment report. Capacity utilization rose to 68.5% from 68.1% in June. Analysts thought it would rise to 68.3%. It shows that factory production has started to pick up. The Nasdaq's losses were slightly more significant than those of the Dow and S&P 500 due to weakness in large-cap tech holdings like Apple, Cisco and Broadcom. QQQQ's implied volatility inched higher. U.S.futures point to a lower open.
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2. TRADING OPPORTUNITY: None |
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3. OUR FREE MONTHLY TRADING RECOMMENDATION AUTO-TRADABLE
WITH OUR PARTNER
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to be published in September.
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34/36 Debit Call Spread: Bought @1.32 on 06/22/09 and
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days!
Current open positions: CSCO Oct 19/21 bullish debit call
spread (bought @1.45 on 8/13/09, target 1.70)
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Bought
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