OPTIONSMART MORNING UPDATE: Managed to erase intra-day losses
September 3rd, 2009 at 6:37 am|
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OPTIONSMART
MORNING UPDATE: Managed to erase intra-day
losses |
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1. OUTLOOK: The market started to form a bottom. Nervous investors continued to worry that the market rally may have outpaced any recovery. With little else on tap to provoke investors in any direction, trading remained largely rangebound. The nation's chain stores will be releasing August sales report this morning. Investors will be looking to see if the stock rally and signs of recovery in the economy have had any impact on consumer spending. Stocks struggled for a bottom. The market needs a reason to move higher. QQQQ' implied valatility inched higher. U.S. futures point to a higher open.
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2. TRADING OPPORTUNITY: Buy the market on weakness |
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3. OUR FREE MONTHLY TRADING RECOMMENDATION AUTO-TRADABLE
WITH OUR PARTNER
BROKERAGES:
to be published in September.
OUR MOST RECENT FREE TRADE: CSCO
Oct 19/21 Bullish Debit Call
Spread: Bought
@1.45 on 08/13/09 and sold @1.60 on 08/21/09 with
a 10.3% gain in 8
days!
OPEN POSITIONS: SPY Oct 95/98
Bullish Debit Call Spread (opened @2.10 on 09/02/09,
target 2.31)
HOW TO SET IT UP:
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4. WISDOM NUGGETS: Bottoms take longer to shape than tops. Greed acts more quickly than fear and pushes stocks to drop from their own weight. |
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