Futures were flat throughout the night suggesting another tight trading range on Super Tuesday. There has been some weakness in today’s session after a couple of disappointing earnings reports, mainly Coca-Cola (KO, $40.11, down $0.90), that has weighed on sentiment but the bulls have another half of trading to get back to even.
The Dow is down 38 points to 15,446 while the S&P 500 is off 7 points to 1,675. The Nasdaq is declining a 12-pack to 3,595. We would like to see the bulls hold 1,675 and 3,600 by the close.
We have kept our commentary short today because we have a number of trades that require action. We are ringing the register on profits of 22%, 12% and 91% on our current call options. Also, we may have additional Profit Alerts and/ or a possible New Trade so stay locked-and-loaded for the remainder of the session.
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