Market Surges on Bernanke’s Stand

1:30pm (EST)

The market is having a great day and Ben Bernanke is holding his own. The Dow is currently up 175 points to 8,475. I’ve been watching the hearing all morning and it has been great. Real quick, if you remember yesterday, I said there was a way to play a breakout to the upside.

The S&P 500 June 925 calls (JXDFZ, $2.30, up $1.50) closed at 80 cents yesterday and OPENED at 20 cents this morning. Once Bernanke spoke, the love started pouring in.

Wherever you got in at, make sure you protect profits!

Also, Imax (IMAX, $7.63, up $0.49) is doing well and opened at $7.40. The stock has traded as high as $7.99 and has since slipped but people are starting to build positions. The 52-week high is $8.28.

I’ll be back tonight (or Friday morning) with a complete wrap.

Rick Rouse

Rick@TheOptionInvestor.com

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Market Surges on Bernanke’s Stand

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