The market is lower as we head into the second half of trading. The Dow and S&P opened higher but are in the red while the Nasdaq is decisively lower.
The Financial and Homebuilder sectors are trading down after housing starts came in below expectations. American Express (AXP, $45.16, down $1.21) pre-announced their earnings and said it would take a $113 charge which will shave 6 cents off their numbers. The will cause them to miss estimates by a penny.
As far as the economic news, housing starts for December came in at 529,000 versus expectations for 550,000. Building permits were better-than-expected at 635,000.
As we head to press, the Dow is down 17 points to 11,821 while the S&P 500 is off by 11 points to 1,284. The Nasdaq is hurting the most and is down over 1%, or 32 points, to 2,733.
We have a lot to cover in our Members Area as we have closed three trades today. We had HARD STOPS in place on two of them to protect profits and these trades gained our subscribers 150% and 125% in just under 3 weeks. We also closed another trade for 7%.
For 2011, we have closed 4 trades with the other position gaining 182% in a month from a December call option. Folks, we have been rolling since October and we have been planning for our next batch of trades which could hit as early as next week. We have room after closing these monsters. If you haven’t joined us yet, you are missing some incredible trading opportunities.
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