As of Jan 2, 2009; we see the markets end up on a positive note, even as the Indus Number show a weak economic platform. We still have extremely light volume as most trader were still on holiday or vacation. Monday will be proof in the pudding, I would not give much thought until the 2nd week of Jan, to see were this baby will go.Daily chart appears to be holding strong and RSI and Stoch are in the oversold area of the chart. MA's have completed there crossovers.
Jan 09 31C were on the menu for Jan 2, 2009. Costing us 1.63 entry at mid-day, after several hours of the market being in positive terrority, we took this position as a good trade. JPM was having trouble; as it was not play along with the others in the group. The stock was showing weakness; who knows what it was. After the initial entry JPM went sideways for a bit and but just 20 minutes before the close of session, we managed to make a profit of 1.92 exit; less fees and commission. Take-home was around 15% ROI.
