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Trade Updates

11:35pm (EST) Bank of America (BAC, $16.42, down $0.28) November 15 calls (BYOKO, $2.60, down $0.27) Entry Price: $1.50 (6/12/09) Exit Price: $3.00 Return: 100% Stop: CLOSED Action: These calls hit $3.20 on Friday and I had raised our exit target Thursday night to $3.00. BofA traded to a highRead more

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Who’s Your Daddy

1:20pm (EST) Make no doubt about it, the bulls are totally in charge of this market. If there was any doubt, today’s breakout has sent the Nasdaq and S&P 500 to new highs. The Nasdaq is up 34 points to 2,007 while the S&P 500 is up 18 to 1,015.Read more

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Futures Higher After Jobs Report

8:35am (EST) I posted a little early this morning as I was anxious to get the morning outlook as soon as the jobs report was released. Heading into the announcement this morning, market futures were lower. Ahead of the report, Dow futures were coming off their lows and were downRead more

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Trade Updates

11:15pm (EST) Ford (F, $8.07, down $0.37) December 6 calls (FLI, $2.42, down $0.37) Entry Price: $1.25 (5/18/09) Exit Price: $2.50 Return: 100% Stop: $2.50 December 7 calls (FLJ, $1.75, down $0.30) Entry Price: $1.00 (5/18/09) Exit Price: $1.75 Return: 75% Stop: $1.75 August 7 calls (FHJ, $1.17, down $0.33)Read more

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Random Thoughts for Thursday – AIG, Imax

11:40am (EST) Blame it on the jet lag… It has been hard to get back on track after the weekend’s road trip but I’m getting there, folks… Man, you have to love this market. I was updating the portfolio which by the way is available anytime you want to seeRead more

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Trade Updates

9:20am (EST) Ford (F, $8.44, up $0.14) December 6 calls (FLI, $2.80, up $0.20) Entry Price: $1.25 (5/18/09) Exit Price: $2.50 Return: 108% Stop: $2.50 December 7 calls (FLJ, $2.05, up $0.15) Entry Price: $1.00 (5/18/09) Exit Price: $2.00 Return: 105% Stop: $1.60, raise to $1.75 August 7 calls (FHJ,Read more

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Bulls Takes a Breather, BofA Update

12:30pm (EST) The market is down a little after a weak Institute for Supply Management (ISM) number that reported business at service companies were lower than expected last month. The news came out at 10am and the Dow has been testing a triple-digit loss ever since. At 9,247, the DowRead more

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Trade Updates Explained

Wednesday’s Wake-Up Call

9:20am (EST) Note: We get the ISM number at 10am. Also, I’ll be back in a couple of hours with an update for the blog. I will be doing an 11am post and maybe a 1pm post. Ford (F, $8.30, down $0.03) December 6 calls (FLI, $2.60, down $0.08) EntryRead more

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Imax’s Make or Break Quarter

1:35pm (EST) Imax (IMAX, $9.28, up $0.08) is setting a new 52-week high today and for those of you who have followed me for years know I mention this company quite often. In fact, on July 29th I had this to say (quotes are from that day): “One last thought…MostRead more

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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.