• 	OPTIONSMART MORNING UPDATE:  Plunged on profit-taking
  1. OUTLOOK: ISM Manufacturing Index for August came out better than expected. It marked the first time the reading topped 50 since January 2008. Pending home sales for July climbed 3.2%. Markets tumbled Tuesday, as investors bet that the six-month stock advance has raced ahead of the economic recovery. Online auctioneer eBay said it will sell a large stake in its Skype Internet phone business to a group of investors for $2.75 billion. QQQQ's implied volatility inched higher as investors buy put options to hedge their portfolios. Nevertheless, we believe this pullback won't last long. U.S.futures point to a neutral open.
  2. TRADING OPPORTUNITY: Buy the market on weakness
  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: None HOW TO SET IT UP: Register on our site to receive Free Picks via emal. Set up auto-trading with your brokerage: select OptionSmart as a publisher, select Free Picks as a service and enjoy the ride absolutely free! Free Picks Track Record
  4.  WISDOM NUGGETS: Some traders consider trading as a sort of gambling. Without planning and calculations, they throw money at the market. They should distance themselves from gambling behavior. Why a scientific approach is applicable? Markets echo similar patterns over and over again. It allows identify reliable trends and select good trading vehicles.
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  September 2nd, 2009 at 8:33 am

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