OPTIONSMART MORNING UPDATE: Lacking a catalyst
August 12th, 2009 at 2:34 am|
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OPTIONSMART MORNING UPDATE: Awaiting Fed's outlook |
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1. OUTLOOK: Jitters ahead of a Federal Reserve announcement gave investors a reason to retreat.The market lost more steam after the government said wholesale inventories fell 1.7% in June versus forecasts for a drop of 0.9%. Applied Materials is likely to be active today. Its results released after-hours were better than expected and shares gained 3% in extended-hours trading. U.S.futures oint to a neutral open.
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2. TRADING OPPORTUNITY: Buy SPY or its bullish spreads on weakness. |
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3. OUR FREE MONTHLY TRADING RECOMMENDATION AUTO-TRADABLE
WITH OUR PARTNER
BROKERAGES:
to be published in Aug.
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!
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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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