• 	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
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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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  October 2nd, 2009 at 8:52 am

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