June 26th Watchlist
Futures are up this morning over the highs put in during yesterday’s trading session. GDP numbers came in on the weak side at 8:30 but the miss has done little to stifle the bullish sentiment during the premarkets.
Gold is taking a serious beating this morning as the major newswires are citing fears of the FED tapering their QE programs. It’s hard to not want to take these metals long for a possible bounce play but catching that knife is never an easy trade.
Most sectors are in the green this morning and we’ll now have to wait and see if the premarket sentiment carries through into the actual trading session. The Financial sector was the leader yesterday and traders today might want to watch the flow of money into a different sector like the high flyer internet names.
In this current environment, there is always the possibility of a sell-off at any moment so don’t get caught on the wrong side of the trade. I would move towards the writing strategies to close out this week.
Make sure to register for our FREE webinar taking place after the close today! We’ll be discussing the concept of writing options and how to go about it effectively
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