12/08/10 Market Update

12/08/10 Market Update

 

 

Contrasting the stagnant-at-best job situation the economic data has been reflecting lately, CNBC reported today that the “Shove It Indicator” (love the name by the way) shows that people are quitting their jobs at an increased price.  This usually only happen when people feel better about the economy; basically thinking they can quit and find a replacement (or better) job fairly easily.  This one makes me scratch my head a little.  But anything with the name “Shove It Indicator” is worth checking out!

 

The market was fairly lackluster this morning but the Financials came to the rescue and helped push the markets into positive territory as the day went on.  The banks are putting in quite a performance for December so far.  Participation by the financials will be integral in helping the rally continue.  Tech was fairly strong through the day and faired the best of the 3 major indices

 

 

 

 

BookingAlpha clients opened a new trade on Oracle (ORCL) today for a short term profit opportunity.  ORCL has enjoyed quite a nice run off the $21.75 September low.  Currently, the stock is sitting just below the recent $29.60 high.  The trade taken has a very short term time horizon and targets a return that most investors don't experience in a year.

 

Another day of premium decay has put this week's SPY position in a great position going into weekly expiration on Friday.  Clients should realize full profit of 9.95% on the 4 day trade. 

 

*NOTE – due to scheduling demands over the next 2 days, Market Updates will not be released Thursday & Friday.  Don't worry, open and potential trades will be actively managed as always, I just won't be able to fit in the Market Updates at the end of the day.  Thanks for your understanding.    

 

 

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