12:40pm (EST)
The market is taking a bit of a breather following yesterday’s pop but has moved off the lows and is trying to make a move into positive territory as we head into the second half of trading.
Wall Street seems to be on hold as it awaits the unemployment numbers which start to roll in tomorrow. Thursday could be volatile day for headlines starting with the Challenger Jobs Cuts and the ADP Employment Change report numbers which will be released at 7:30 am and 8:15am (EST), respectively. At 8:30, we get Initial Claims and Continuing Claims. After the open, the ISM Services will take center stage at 10am with an update on Crude Inventories an hour afterwards.
We have been busy this morning with our Weekly Wrap as we added 1 new trade and took action on 3 others. The current trading environment is one of the best in years to write covered calls as option premiums are a little juiced. The current trading range is actually a good thing for our recommendations and we have up to 6 trades that could get “called-away” this month with mid-teen double-digit gains. This would bring our track record to 22-0 since inception. Folks, if you do the math and average double-digit gains, monthly, you will easily double your money in a year. Make 2012 the year you double your portfolio.
As far as our Daily newsletter, we have finished the early math for our 4-year track record and we are proud to say we are at a 70% win rate for all of our recommendations. This is unmatched by most option trading services which has made us the fastest growing newsletter on the internet. We have made 665 option recommendations with 459 winners over the last 4 years which equates to 7-out-of-10 winning trades. You can email us to get our complete 2011 Daily and Weekly Track Records or you can put your email address in the box to the right on the website.
We have gotten off to a great start for 2012 and we see a ton of opportunity to do even better this year. As we head to press, the Dow is down 3 points to 12,394 while the S&P 500 is lower by 1 point to 1,275. The Nasdaq is off by 3 points to 2,646.
We have action to take on a few of our current trades and we have 1 NEW TRADE we are adding so let’s get on it. Subscribers, check the Members Area for the updates.
