OPTIONSMART MORNING UPDATE: Lacking a catalyst
August 25th, 2009 at 6:50 am|
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OPTIONSMART MORNING UPDATE: Lacking a catalyst |
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1. OUTLOOK: Investors turned cautious after pushing the indices to new 2009 highs. The early gains dissolved in the afternoon, with only the energy sector remaining buoyant. Large traders are waiting to see if the upcoming reports confirm the economy is bottoming. Standouts this week include a consumer confidence report today, housing reports today and Wednesday and the revised read on second-quarter GDP growth Thursday. Advanced Micro Devices (AMD) gained 8% after Citigroup upgraded the chipmaker to "buy" from "hold." Nokia (NOK) is planning to expand its traditional cell phone business by introducing a mini-laptop early next month. QQQQ's implied volatility remains very low. U.S.futures point to a neutral open.
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2. TRADING OPPORTUNITY: n/a |
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