Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

Markets On The Cusp

|Includes:AMEDISYS Inc (AMED), JOY, RIG, WYNN

Sep 10 2009, 04:46 AM  by  Bagger Vance 

I thought I would start this recap and outlook with closed trades.  We've been HOT HOT HOT locking down winners, and Wed was no exception.  4-4 on the win side with some huge gainers.  More to come!  SIGN UP FOR MY SERVICES SO YOU CAN GET THE TRADES BEFORE EVERYONE ELSE!  Check it out at this link:  https://www.myhappytrading.com/Subscribe/Bagger+Vance.aspx

 

  • 07:28 | Bagger Vance WYNN ($60.00) Sold to Close UWYIK Sep 55 calls, at $5.60 +124%
  • 07:27 | Bagger Vance RIG ($80.50) Sold to Close RIGIO Sep 75 calls, at $6.00 +182%
  • 07:26 | Bagger Vance JOYG ($38.00) Sold to Close JQYIC Sep 37 calls, at $2.90 +107%
  • 07:24 | Bagger Vance AMED ($36.40) Sold to Close CQWIG Sep 35 calls, at $2.30 +15%
Markets were higher on Wed after some rather shaky news in the Fed Beige book.   Frankly, it didn't tell us much different than what we already know...slow recovery but some improving signs.  The markets hit the ceiling at 1035 on the SPX but the Nasdaq seems in much better shape.  A break above 1040 means more upside.   The dollar tanked hard as commodities improved.  Tech was mixed but financials once again did not participate to a large extent.  Breadth was decent and volume came in about average today.  The big move was in volatility as the VIX plunged to close under 25.  This is positive for the markets if the trend stays down in this indicator.   We could see some positive action in the markets into the end of the week.  Expiration week is upon us and that could give us some fireworks.
 
Hit' em straight!
 
 
by Bagger
Stocks: AMED, WYNN, RIG, JOY