OPTIONSMART MORNING UPDATE: Shrugged off weak jobs report

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OPTIONSMART MORNING UPDATE: Shrugged off weak jobs report

OPTIONSMART MORNING UPDATE: Shrugged off weak jobs report

1. OUTLOOK:The market was able to overcome an early weakness that stemmed from a disappointing jobs report. The mood among large traders improved after news that leading economic indicators increased 0.7% in July. Asian markets rebounded Thursday, reassuring investors after a plunge in China's main market Wednesday. The technical chart remains bullish. QQQQ's implied volatility dipped to 52-week lows and this is a bullish sign. U.S.futures point to a higher open.

QQQQ chart

2. TRADING OPPORTUNITY: n/a

3. OUR FREE MONTHLY TRADING RECOMMENDATION AUTO-TRADABLE WITH OUR PARTNER BROKERAGES: to be published in September.

Our most recent Free Pick: QQQQ Sep 34/36 Debit Call Spread: Bought @1.32 on 06/22/09 and sold @1.46 on 07/16/09 with a 10.6% in 24 days!

Current open positions: CSCO Oct 19/21 bullish debit call spread (bought @1.45 on 8/13/09, target 1.70).

Free Picks Track Record

4. QQQQ Enhanced Portfolio Most Recent Trade:

QQQQ Oct 37/39 Debit Call Spread

Bought @1.30 on 8/11/09 and sold @1.44 on 8/12/09 with a 11% gain in one day!

Learn more about this service with a 10% average gain per week-long trade (56 of 56 in 2009)!

5. SPECIAL OFFER: n/a

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

August 21st, 2009 at 7:16 am

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