Market Rebounds Off Lows

12:05pm (EST) The market took a hit this morning (as it seems to do every Monday morning) but has bounced off its lows of the session. The futures were pointing towards a nasty open after the Asian markets sold-off slightly but the bulls are focused on Dow 10,000. Currently the Dow is down 32 points to 9,788. The Nasdaq is up 4 points to 2,137 while the S&P 500 is lower by 3 to 1,063. Two stocks going in different directions today…Research In Motion (RIMM, $84.12, up $0.49) which reports earnings on Thursday is up while Apple (AAPL, $182.89, down $2.13) is rolling over. The drop in Apple has taken us out of October 200 calls (APVJT, $1.54, down $0.48) but not before we booked a 100% return. These call options were going for 85 cents when we sent out a News Flash alerting you of another possible move to the upside when the stock was at $178. Subscribers, check the Members Area for the trade updates on RIMM and Changeyou.com (CYOU, $38.03, down $0.72). Rick@MomentumOptionsTrading.com]]>

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Market Rebounds Off Lows

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