Bulls Reclaim Resistance
The battle at Dow 16,000; S&P 1,825; and Nasdaq 4,200 continues with the bulls reclaiming and holding these levels as we head into the final few hours of trading.
We were pleasantly surprised when we arrived to the office this morning as the power was on and didn't go out following the heavy snow and rain that hit Our Town last night. Although we had backup plans, it is always more comfortable to work and write from the trading desk.
There area number of things we want to talk about, including strangle options trades, but we will save it for tomorrow as we have 2 New Trades we want to get in to. We have profiled a number of strangle option trades over the past few weeks that have returned gains of 50%-200% on stocks that have been moving 5%-15% and our goal is to get all of subscribers use to trading them.
We have done these types of option trades for our Weekly Wrap and we will cover some of the trades from this week on Friday. We will also have a coupon for you to sign up for a substantial discount to the newsletter so that everyone can enjoy the powerful returns these types of option trades can provide.
As we head from desk to press, the Dow is up 72 points) to 16,035 while the S&P 500 is advancing 10 points to 1,829. The Nasdaq is higher by 35 points to 4,236 and the Russell 2000 is surging 10 points to 1,142.