OPTIONSMART MORNING UPDATE: Found support amid bargain-hunting
September 4th, 2009 at 8:25 am|
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OPTIONSMART MORNING UPDATE: Found support amid bargain-hunting |
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1. OUTLOOK: The market staged a late-session rally, as investors piled into bank and technology shares. ack-to-school sales for the nation's retailers were weaker than a year ago, but results still topped analysts' forecasts. Investors are still looking for is continual improvement in the jobs market. Trading volume is likely to be light and markets could be particularly volatile ahead of the three-day Labor Day holiday. The technical chart represents a bullish pattern. U.S. futures point to a higher open.
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2. TRADING OPPORTUNITY: Buy the market on weakness |
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WITH OUR PARTNER
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to be published in October.
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days!
OPEN POSITIONS: SPY Oct 95/98
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target 2.31)
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4. WISDOM NUGGETS: Hope, fear and greed are not strategies: they are emotions. Simple emotions are not an effective strategy. Positive emotions could cause us to fail to apply riskprecautions. Negative emotion could cause us to hesitate. 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. |
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