MomentumOptionsTrading.com Midday Update for 6/16/2014
Bears Make Monday Stand/ Profit Alert !!!
Futures were weak throughout the night and leading up to Wall Street’s open but the bulls got off to a good start after a better-than-expected Empire State number. However, the bears have gotten into the mix after the IMF lowered its growth forecast for the US and urged a hike in the minimum wage.
The indexes have come off their lows heading into the second half of trading so the close should be interesting.
I’ve mentioned all year this is becoming a “stock picker’s market” and despite the pullback, there are a number of trades in the portfolio soaring today. One of the recent additions, is zooming after getting a takeover bid and a number of other call option trades are approaching triple-digit returns.
I’m suggesting, subscribers take half profits to lock-in some sweet gains today.
The Dow is down 20 points to 16,755 while the S&P 500 is lower by a point to 1,955. The Nasdaq is up a point to 4,311 and the Russell 2000 is advancing a point to 1,163.
Subscribers, check the. Members Area for the updates and I will be back in the morning with a full report.