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Market Retreats, Gold Stops Hit

The market started Wednesday off in the red and managed to turn things around in the afternoon before giving up its gains in the final two hours. There wasn’t any panic selling and it appears both bulls and bears are waiting to see how Friday unfolds with Triple Witching. ThenRead more

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Gold Stocks Continue Rally

Gold is up strong this morning as the yellow metal is higher by $27 and now stands at $870/ ounce. I’ve been talking about the correlation between gold and a weak dollar and the gold trades outlined on Monday have been low risk/ high reward. I have been expecting aRead more

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Market Rallies After Fed Cut

Looks like Wall Street got an early Christmas present after yesterday’s surprise Fed announcement concerning interest rates. Most experts had expected the Fed would cut the rate for overnight loans between banks from 1% to 0.5% but jaws hit the floor when the Fed said it use “all available tools”Read more

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PowerShares QQQ Trade Update

I put out a trade yesterday morning that is off to a good start. The Dow is enjoying a triple-digit gain on the heels of a historic FOMC meeting. More importantly, the Nasdaq is outperforming the Dow as it is up over 2%, or 35 points, to 1,543. The PowerSharesRead more

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Goldman Sachs Reports First Ever Loss

A collective sigh of relief was felt by Wall Street this morning when Goldman Sachs (GS, $71.46, up $5.00) reported earnings. Not that they were worth cheering for or anything…the company lost over $2 billion for the quarter. It was Goldman’s first quarterly loss since it went public in 1999.Read more

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Nike Update

I wanted to update the Nike (NKE, $48.19, down $1.18) trade from last Thursday. When I mentioned the stock it was trading at just a hair below $50 and I had talked about the weakness it was displaying. The shares touched a low of $48.19 on Thursday after the blog,Read more

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Gold Stocks Shine

With the Fed meeting on Tuesday, Gold stocks are enjoying some nice gains today. There seems to be some investors scaling back into gold with December and January call options. Barrick Gold (ABX, $33.39, up $2.07) December 35 call (ABXLG, $0.80, up $0.50) January 35 call (ABXAG, $2.70, up $0.95)Read more

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Triple Witching

This Friday is “Triple Witching” and I wanted to explain what this means and what impact it could have on the market. Triple Witching is when the contracts for stock index futures, stock index options, and stock options all expire on the same date. Triple witching happens four times aRead more

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Weekly Wrap 12/14/08

Believe it or not, the market managed to hold its own for the week despite a continuing string of bad news. Going into Friday morning, the market looked poised to end the week on a sour note as Congress rejected the proposed auto bailout. As the week dragged on, itRead more

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Cutting the Fat

CFTC Disclosure:

GOVERNMENT REGULATIONS REQUIRE DISCLOSURE OF THE FACT THAT WHILE THESE METHODS MAY HAVE WORKED IN THE PAST, PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE PERFORMANCE. WHILE THERE IS A POTENTIAL FOR PROFITS THERE IS ALSO A RISK OF LOSS. A LOSS INCURRED IN CONNECTION WITH Momentum Options Trading, LLC CAN BE SIGNIFICANT. YOU SHOULD THEREFORE CAREFULLY CONSIDER WHETHER TRADING IS SUITABLE FOR YOU IN LIGHT OF YOUR FINANCIAL CIRCUMSTANCE. THERE IS SUBSTANTIAL RISK IN TRADING. A LOSS INCURRED IN CONNECTION WITH FUTURES TRADING CAN BE SIGNIFICANT. WE MAKE NO CLAIM REGARDING PAST OR FUTURE PERFORMANCE. WE MERELY TRACK EVERY TRADE AND SHOW THE PERFORMANCE OF ALL TRADES THE SYSTEM OR NEWSLETTER PRODUCES. SIMULATED TRADING IS DIFFERENT THAN TRADING REAL MONEY. HYPOTHETICAL RESULTS ARE NOT REAL RESULTS. PLEASE CONTACT YOUR BROKER ABOUT THE RISK OR TRADING STOCKS, OPTIONS OR FUTURES. ALL COMMUNICATIONS ARE OPINIONS NOT ADVICE.

CFTC RULE 4.41 – HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN.