Market Opens Higher

Market Opens Higher

10:15am (EST) I wanted to see how we opened this morning before posting so I could get a feel for how things may play out today. The Dow is currently up 13 points to 9,167. The bulls will be taking aim on S&P 500 1,000 and right now the index stands at 991, up 5. Nasdaq 2,000 is the other target for the bulls and at 1,995 they have pushed it up 10 points this morning. A close above these levels will be another clear victory for the bulls. Ford (F, $7.61, up $0.22) continues to shine and I wish I would have added some August 7 calls (FHJ, $0.77, up $0.19) to the portfolio this week. Ford closed last Friday at $6.78 and had a big Monday. We are in the December 6 calls (FLI, $2.00, up $0.15) and the December 7 calls (FLJ, $1.38, up $0.17) which have done well so we can’t complain. Bank of America (BAC, $14.31, up $0.34) is back above $14 and has made higher highs all week. Nice. The August 15 calls (BYOHO, $0.32, up $0.07) have traded over 15,000 contracts thus far and they would have been a sweet play this week as well. We have already established positions back in June but watch these call options today and next week. If BAC can break $15 by early next week they are a double. ]]>

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