Editor's Note

With the S&P futures down hard, the outlook for Friday is grim. The S&P futures have recovered from -9 to -7 but there is plenty of darkness before morning. The big Nasdaq crash at 12:30 today more than likely damaged market sentiment. Traders may not want to go into the weekend with long positions and an unstable market. With the futures down sharply, there is nothing I can recommend tonight that would not be filled at either the low of the day or the high of the day on Friday. There are no options for entering a market using low dollar stocks. In the Option Investor newsletter I recommended a Dow DIA ETF put spread using the Oct 215/205 strikes because the Dow closed up 85 points at a new high. That spread had a debit of just over $2 if you want to make that play.


No New Bullish Plays


No New Bearish Plays