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  	OPTIONSMART MORNING UPDATE: Shrugged off negative news
  1. OUTLOOK: Weakness in the financial sector weighed on the broader market for the entire session. The late lift was led by the energy sector. Stifel Nicolaus raised their HPQ target to $58 from $52. Novellus upgraded to Buy at Citigroup. Western Digital downgraded to Hold at Stifel Nicolaus. The market managed to erase intra-day losses. It is a bullish sign. Besides, QQQQ's implied volatility slipped further as large traders dumped protective puts. U.S.futures point to a higher open.
  2. TRADING OPPORTUNITY: n/a
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  4.  WISDOM NUGGETS: The markets offer endless and plentiful possibilities. Missed opportunities  exist only in your mind. Prices keep changing and generate other opportunities. The goal of trading is make a net profit after a sequence of trades. It is, therefore, necessary to accept some losses and to look forward without punishing oneself.
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  October 16th, 2009 at 5:18 am

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