Wednesday, December 1, 2010

Market Update

Just a quick market update before I have to run.  Market did a nice gap up this morning and continued to hold its strength throughout the day.  Market finally made it above the 1200 price level and closed nicely above it.  A lot of bulls came out of the woodwork for this one.  Market looks a lot like it did back at the 1043 price level before we had a 2 month rally.  I am not saying we are going to see a 2 month rally here but a rally into the new year could be possible.  I will go over that more on the Weekly Forecast.

I picked up LOW this morning with a fill around $23.03.  I am also still holding my short put on the NFLX 180 strike.  I was looking for NFLX to reach the $210 level so I could roll my strike up to the 190 but that did not happen.  I will go into short puts tomorrow for the Trading Tools session.

I see several new items to add to the watchlist and will bring them up tomorrow morning before the market open. 

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