OPTIONSMART MORNING UPDATE: Showing weakness
September 1st, 2009 at 8:03 am|
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OPTIONSMART MORNING UPDATE: Showing weakness |
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1. OUTLOOK: Broad-based selling effort took hold following a steep sell-off in China's Shanghai Composite Index. This news raised concerns about the global economy and prompted investors to shy away from risky assets. The retreat came despite a stronger-than-expected regional manufacturing report. Large traders need more concrete signs of economic growth. Among the fundamental economic indicators due out this week: the ISM index of manufacturing activity, auto sales for August come out Tuesday. On Friday, the monthly employment report is expected to show a slight increase in the nation's unemployment rate. QQQQ's implied volatility inched higher. The technical chart remains bullish. U.S.futures point to a lower 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:
None
HOW TO SET IT UP:
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4. QQQQ Picks Most Recent Trade: Oct 38/40 Debit Call Spread
Bought @1.31 on 08/12/09 and sold @1.46 on 08/28/09 with
a 11% gain in 16
days!
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