Option Investor
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Patience is a Virtue

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Play Editor's Note:

Unfortunately nothing has really changed from Wednesday's close. Yes, the market did drift lower but stocks remain short-term overbought. With the S&P 500 up almost 20% in less than two weeks and struggling to break resistance near 800 I don't want to launch a bunch of new bullish positions. If anything I would be tempted to speculate on a sharp pull back. Nimble traders could try very short-term bearish positions with a tight stop above this week's high.

We will be adding new play candidates this weekend.

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