• 	OPTIONSMART MORNING UPDATE: Looking for new catalysts to go higher
  1. OUTLOOK: A late selling effort caused stocks to close in mixed fashion. The session's lack of direction followed weak housing data and a pullback by financial stocks. Hewlett-Packard shares fell in after-hours trading Tuesday after the its revenue forecast disappointed investors.In another earnings report, chip maker Analog Devices outpaced Wall Street's targets and gave a bright forecast. Its shares popped 8% after hours. The market is looking for new catalysts to go higher.   U.S.Futures point to a slightly higher open.
  2. KEY DRIVERS FOR TODAY:  HPQ  reported in line with Wall Street's estimates  HD reported earnings that beat expectations Breaking news: The Federal Reserve to issue the minutes about the economic outlook TGT is to post quarterly earnings before the open Economic Recovery Advisory Board to discuss jobs, energy at first public meeting Housing starts and building permits recently fell below expectations Obama announced stricter fuel economy standards QQQQ's implied volatility inched lower to 27.6 According to our estimates, the NASDAQ index has a 65% probability to close higher.
  2. WISDOM NUGGETS:  Don't be a hero. Don't fight the trend. Follow the money flow.
  3. TRADING OPPORTUNITY:  will be published later this week
  4. OUR FREE MONTHLY TRADING RECOMMENDATION AUTO-TRADABLE WITH OUR PARTNER BROKERAGES: will be published in June.
  5. Our most recent Free Pick autotraded at major brokerages: QQQQ Jun 31/33 Debit Call Spread: Bought @1.45 on 5/11/09 and sold @1.61 on 5/19/09 with a 11.0% in 8 days! That's right. You can auto-trade our option picks absolutely free! One pick per month!  Email for more details.
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  May 20th, 2009 at 8:21 am

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