• 	OPTIONSMART MORNING UPDATE: Sunday Edition
  1. OUTLOOK:  The tech sector posted healthy gains. Bets that the economy is closer to stabilizing gave some  fuel, but a mixed batch of recent reports has caused worries that the market has gotten ahead of any recovery. The University of Michigan showed consumer sentiment rose to 70.8 in June from an earlier reading of 68.7. Economists thought it would increase to 69. The  technical pattern remains bullish in the short-term. On the Nasdaq, advancers topped decliners two to one on volume of 3.65 billion shares. QQQQ's implied volatility dropped very low. The NASDAQ index has more room to run next week.
  2. TRADING OPPORTUNITY: n/a
  3. OUR FREE MONTHLY TRADING RECOMMENDATION AUTO-TRADABLE WITH OUR PARTNER BROKERAGES: to be published  in July. Our current open position (entered on Monday, June 22, 2009): QQQQ Debit Call Spread Long QAVIH Sep 34 Call Short QQQIJ Sep 36 Call Debit 1.32, Target 1.46
  4. WISDOM NUGGETS:  Diversification is a protection against ignorance. It makes little sense for those who know what they're doing. Warren Buffett.
  5. SPECIAL OFFER: QQQQ Picks Our most recent trade closed last Friday: QQQQ Jul 33/35 Debit Call Spread Bought @1.55 on 06/16/09 and sold @1.75 on 06/16/09 with a 13% gain in 10 days! We target a 10% gain per QQQQ spread trade (10 days long) and maintain these average numbers since 2003. Learn more... Subscribe to our QQQQ Picks service today or tomorrow and save 15% on recurring subscriptions by entering coupon code 8E26 during checkout (expires on June 27, 2009). New subscribers only.   Diversify your portfolio by receiving more frequent picks and trading alerts. Subscribe to our paid services!

  June 28th, 2009 at 5:04 am

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