OPTIONSMART MORNING UPDATE: Lacking leadership

September 30th, 2009 at 8:29 am

OPTIONSMART MORNING UPDATE: Lacking leadership

1. OUTLOOK: A weaker-than-expected consumer confidence index raised more questions about the strength of a recovery. The pace of falling home prices continued to slow, according to a report released before the markets opened. Dell unveiled its newest high-end, super-thin personal computer late Monday but shares fell 3%. The company also expects its unit sales growth in China to beat the market's projected 12% expansion in the fourth quarter. Micron beat estimates and said that gross margins on sales of memory products improved to positive 8%. The QQQQ technical chart remains bullish. QQQQ's implied volatility inched lower. The tech sector gathers momentum.  U.S. futures point to a higher open. 

QQQQ chart

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