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Sang Lucci

Sang Lucci has been successfully trading options for over six years. He began his career at a proprietary trading firm where he studied the techniques of other traders while managing his own account...

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Sang Lucci December 17th Pre-Market Update

Futures are slightly up this morning off the backs of more optimism from Boehner's talks over the weekend concerning tax hikes on the wealthy. Although the White House hasn't come to an agreement on the Fiscal Cliff, most lawmakers seem to be confident a solution will be found before the deadline.

Apple (AAPL) caught a bold downgrade this morning from Citigroup (C), citing concerns about the strength of the iPhone 5 product line. Citigroup revised their price target down from to $575 from $675. The stock actually traded below $500 this morning, but has since rallied back to levels seen during Friday's trading session.

We won't have much guidance from economic reports today. The only report slated for today's session is a New York manufacturing figure which will most likely not move the indexes in any one particular direction. Expect more choppy action today and be prepared to take your money off the table at a moment's notice.

Keep a close eye on the Financials today, they look like they're ready to finally make some kind of move higher.

GOOD MORNING YOUNG WORLD!

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Posted in: Options Markets Trading Ideas