OPTIONSMART MORNING UPDATE: Plunging on weak economic data

RSS

OPTIONSMART MORNING UPDATE: Plunging on weak economic data

OPTIONSMART MORNING UPDATE: Plunging on weak economic data

1. OUTLOOK: A bigger-than-expected rise in weekly jobless claims and a weaker-than-expected reading on manufacturing sparked worries about the pace of the economic recovery. Investors are worried that when the stimulus wears out, the economy won't have enough momentum to keep charging ahead on its own. On the upside, the index of pending home sales surged 6.4% in August versus forecasts for a rise of 1%. QQQQ's implied volatility rose to 27 as large traders hedged their portfolios. U.S. futures point to a lower open.

2. TRADING OPPORTUNITY: none

3. OUR FREE MONTHLY TRADING RECOMMENDATION AUTO-TRADABLE WITH PARTICIPATING BROKERAGES: to be published in late October.

SPY Oct 95/98 Bullish Debit Call Spread: Bought @2.10 on 09/02/09 and sold @2.31 on 09/04/09 with a 11% gain just in two days!

Learn more and subscribe free..

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.

5. SPECIAL OFFER: n/a

Diversify your portfolio by receiving more frequent picks and trading alerts. Subscribe to our paid services!

October 2nd, 2009 at 8:52 am

Share and Enjoy:

Back to optionsmart2 list.

Powered By GetResponse Email Marketing


	Error: You Must Enable JavaScript To use the GetResponse service, you must enable JavaScript in your Web browser. Solution, follow these steps. Safari: On the Safari menu, click Preferences. Click the Security icon at the top of the window. Under Web Content, select Enable JavaScript. Close the Preferences window to save the settings. FireFox: Open Firefox. On the Tools menu, click Options. Click on the Content icon. Check the box next to Enable JavaScript. Click the Advanced button to open the Advanced JavaScript Options box. Check the boxes under Allow scripts to section that you want to allow. Internet Explorer 7: Open your browser. Click on Tools button. Select Internet Options. Click on Security tab. Click on Custom Level. Scroll down until you see section labeled Active Scripting. Select Enable and click OK. Click OK to save changes. Confirm Yes and click OK. Close and restart the browser. Internet Explorer 5.x or 6.x: From the Tools menu, click Internet Options. From the Security tab, click Custom Level. Scroll to Java permissions, click to select High safety. Click OK. Click OK. From the File menu, click Close. Relaunch your browser. NetScape: On the Tools menu, click Options. Click the Site Control icon. Under Web Features, select Enable JavaScript. Click OK. Note: Steps may vary depending on your browser version.