Markets

Posted at: April 2nd - 10:00 AM

Weekly Option Alert

Alert Message

The three major indexes DOW, SPY, and IYT are close to what technicians say constitutes a buy signal based on DOW theory. That is when the DOW and the IYT (transports) break out to a new high they confirm the signal. The DOW had 44 points to go as of this morning. We have a huge unemployment number coming out before the market open on Friday. We will not be able to catch the major market move if we wait till then. I believe the markets will chop around today and hold firm and may continue into a period of tomorrow. Option Market makers will be stripping premium as they wait. My suggestion is we wait till later in the day to get involved and pick a direction for a high stakes gamble play that can pay off big if the direction is correct. So unless there is just something glaring out there, I suggest holding our fire till tomorrow afternoon.


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