• 	OPTIONSMART MORNING UPDATE: Slipped on economic concerns
  1. OUTLOOK: Though declines were deep and broad, stocks finished well above the session lows. Autodesk beats by $0.10 and jumped 10% after hours. QQQQ implied volatility still below the 30 level. The market sentiment remains bullish. Investors look for a catalyst to resume the upward trend. U.S.Futures point to a higher open.
  2. KEY DRIVERS FOR TODAY:  The index of leading economic indicators rose 1% in April - the first increase in seven months -- following a revised dip of 0.2% in March The U.S. government invested an additional $7.5 billion in GMAC, the main source of financing for General Motors Sears swung to surprise profit ADSK beat by $0.10, announced cost-cutting plan   China's economy appears to be losing traction GM to file for bankruptcy as early as next week Initial claims for the week ending May 16 totaled 631,000, while continuing claims climbed to a new record of 6.66 million The pace of store bankruptcies will pick up - even if consumer spending rebounds - in the next 12 months QQQQ's implied volatility rose to to 29.2 According to our estimates, the NASDAQ index has a70% probability to move higher today
  2. WISDOM NUGGETS:  Prices have memory.
  3. TRADING OPPORTUNITY:  Buy bullish QQQQ or SPY spreads.
  4. OUR FREE MONTHLY TRADING RECOMMENDATION AUTO-TRADABLE WITH OUR PARTNER BROKERAGES: will be published in June.
  5. Our most recent Free Pick autotraded at major brokerages: QQQQ Jun 31/33 Debit Call Spread: Bought @1.45 on 5/11/09 and sold @1.61 on 5/19/09 with a 11.0% in 8 days! You can auto-trade our option picks absolutely free! One pick per month!  Email for more details.
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  May 22nd, 2009 at 7:52 am

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