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Daily Newsletter, Thursday, 11/27/2008

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Table of Contents

  1. New Option Plays

New Option Plays

Don't Chase It

Play Editor's Note: The best four days in the stock market since 1932. That's what the financial media is reporting. I don't recall if they're looking at the percentage move in the S&P 500 (+17.9%) or the percentage move in the DJIA (+15.5%). Both moves are impressive for a four-day rally. Friday is a shortened trading session following tomorrow's holiday here in the U.S. Typically the post-Thanksgiving Friday is a bullish one for the stock market but volume is extremely low, which lets stocks get pushed around for big one-day percentage moves. After such a strong four-day bounce I don't want to chase it with new bullish positions but it's not time yet to consider new bearish positions. This will make picking new candidates a challenge this weekend. The best trade here is probably do nothing. Just monitor your current positions, maybe tighten stops, and be prepared to take profits if stocks near your targets or reverse on us. I want to wish everyone a happy Thanksgiving. We're thankful for your continued membership.

No new plays this evening.

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