Expect Nervous Trading Into Next Week. Line Up Strong Stocks For Put Credit Spreads!
Earnings continue to pour in and they have been positive. Over 80% of the companies that are reported have exceeded expectations. Yesterday, the market started off on a positive note. A stronger than expected GDP release in South Korea sparked buying in Asia. That spilled over into other markets. After a brief rally, our market reversed sharply and it closed lower for the day. In the chart below, you can see that we have fallen below the breakout from two weeks ago. The price action the last few days has been bearish. Overnight earnings were decent, but that was already priced …
October 27, 2009
• Posted in: Options
Comments are closed for this entry.