OPTIONSMART MORNING UPDATE: Tumbled on consumer fears

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OPTIONSMART MORNING UPDATE: Tumbled on consumer fears

OPTIONSMART MORNING UPDATE: Tumbled on consumer fears

1. OUTLOOK:The NASDAQ index ended at a one-month low. QQQQ's implied volatility spiked 10%. Looks like put buyers are hedging longs. After such a long run, a pullback was predictable, but it's unlikely to signal a bigger retreat. The government reports today on July housing starts and building permits, and July producer prices. Later in the week, reports are due on leading economic indicators, jobless claims and existing home sales. U.S. futures point to a higher open.

QQQQ chart

2. TRADING OPPORTUNITY: Buy the market (SPY or DIA) on weakness

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

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August 18th, 2009 at 8:59 am

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