OPTIONSMART MORNING UPDATE: Posted healthy gains

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OPTIONSMART MORNING UPDATE: Posted healthy gains

OPTIONSMART MORNING UPDATE: Posted healthy gains

1. OUTLOOK: The market shrugged off a disappointing Fed Beige Book commentary and pushed stocks broadly higher into the close. Industrial stocks showed leadership for the entire session. Thanks to a late rebound by the broader market, energy and materials stocks were able to close with strength. Apple's CEO Steve Jobs announced a new version of iTunes. However, the shares closed 1% lower. Market breadth was positive. On the Nasdaq, advancers beat decliners by over two to one. QQQQ's implied volatility slipped to 52-week lows. U.S. futures point to a higher open.

2. TRADING OPPORTUNITY: n/a

3. OUR FREE MONTHLY TRADING RECOMMENDATION AUTO-TRADEABLE WITH OUR PARTNER 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!

Free Picks Track Record

4. MOST RECENT QQQQ PICKS TRADES:

Q3Sep 35/37 Bullish Debit Call Spread

Bought @1.32 on 06/09/09 as a Q2Jun 35/37 Debit Call Spread, rolled for 0.40 on 07/08/09 and sold @1.93 on 09/09/09 with a 12% gain in 91 days!

Q3Sep 35/37 Bullish Debit Call Spread

Bought @1.40 on 06/09/09 as a Q2Jun 35/37 Debit Call Spread, rolled for 0.35 on 06/22/09 and sold @1.93 on 09/09/09 with a 10% gain in 91 days!

More details...

5. SPECIAL OFFER: N/a

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

September 10th, 2009 at 9:01 am

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