1:10pm (EST)

The market got an initial pop following the start of Fed Head Ben Bernanke’s comments but the zombies seem more worried about Wall Street and the market instead of trying to understand what Big Ben’s monetary policy is all about.  We won’t bore you with the chitchat because all we care about is market direction.

We did a video last night for those of you that have yearly memberships or have purchased our trading course, How to Trade Options on Momentum Stocks, that showed where the market was at and where it could be heading.  The video has some chart work, how to spot a possible earnings trade, which options to choose, futures, and other technical highlights that will help make you a better trader.

We have an entire video collection from over the years that walk you through a ton of option strategies and we urge anyone that has a monthly, quarterly, or 6-month membership to upgrade to a 1-year deal.  If you do, the course is included in your upgrade at no charge.  We don’t often advertise this special offer because we normally only do it once a year in December but now is the perfect time to run the deal that includes our trading course, along with the videos, at no charge, if you upgrade.  The options trading course is priced at $895 and will be shipped to your doorstep at no charge if you upgrade.

If you have recently purchased a yearly membership and did not receive the video, email our support team and we will get it out to you.

As a bonus, you will also receive a 1-year subscription to our Weekly Wrap if you upgrade to a 1-year deal for the Daily.

One of our Weekly Wrap recommendations surged 13% on Monday and we have a few other trades that could be closed for double-digits this week.  As far as the stock we just mentioned, the company has been a favorite of ours for 2 years now and there is no analyst coverage as the suit-and-ties have yet to discover this small-cap gem.  It is a solid investment we discovered at $4 that has traded to a recent high north of $9.

Shares just cleared major resistance at $6 again and could be headed for another major run.  It is a stock we fell could trade to $15-$20 over the next 12-24 months and we are urging you to get on board on one of the fastest-growing companies in its sector/ industry.

Again, if you upgrade to a 1-year subscription to the Daily, you will get the trading course and a 1-year subscription to the Weekly Wrap that is 26-3 for the year and 70-5 since the start of 2011 at no charge.  Our Daily newsletter has had numerous triple-digit returns so far for the year and we have doubled a $10,000 portfolio with the 100+ trades we have recommended so far with a boatload of triple-digit winners.

We do this because trading is for the long haul and not just for a month or two.  Think about it.

As far as the market, the action is still bullish as we head into the second half of trading.  The Dow is up 13 points to 15,464 while the S&P 500 is higher by 6 points to 1,682.  The Nasdaq is advancing 13 points to 3,611.

We mentioned yesterday after closing 3 more winning trades we are again in a perfect position to play the market’s next major move.  Should the bulls continue to push new highs we will play call options but if the bears catch a break and crack support, we won’t hesitate to go short or play put options.

We have a number of trades on our Watch List that are ready to go and the video we did last night showed the current trade we are adding as we start to build out our next batch of trades into September and October.

We just missed a huge winner on Yahoo (YHOO, $29.18, up $2.30) as it was not an official recommendation but is on our Watch List.  Many of our subscribers are emailing us today to thank us for profiling the Yahoo August 28 calls (YHOO130817C00028000, $1.65, up $1.00) this week as a possible earnings trade.  The call options closed at 65 cents yesterday and are up 160% on today’s stock surge paste $29.

Subscribers, check the Members Area for our latest recommendations and stay locked-and-loaded for the remainder of the session in case we see something else we like.  Update:  We are also adding an earnings trade as we head to press!