12:40pm (EST)
Futures were pointing towards a strong start following better-than-expected corporate earnings and overall optimism is in the air as the bulls’ continue to push through resistance. We covered the key levels we were looking at this morning and on Monday – Dow 11,150-11,200; S&P 500 1,170-1,175; and Nasdaq 2,450-2,500 – and we are right on target.
The market paused shortly after the open as it met resistance at some of these levels but quickly resumed its steady climb higher throughout the day.
We have a lot going on but we wanted to cover Apple (AAPL, $301.40, up $2.86) which is at all-times highs after topping $300 a share. The company continues to see white-hot iPad sales with Wal-Mart (WMT, $54.26, up $0.34) coming into the mix shortly and there is also the obvious rumor about a “Verizon iPhone” in early 2011. A planned expansion into China will only add to the momentum as the company prepares Wall Street with their earnings which are due out next Monday (10/18).
We would love to see Apple do some sort of stock-split and the company has in the past. If Apple can come in with better-than-expected earnings AND they announce a split, then shares could explode higher. Our only hope is that they don’t say something negative which would certainly ruin the bulls’ current momentum.
There is a lot happening inside our Members Area and we will be back in the morning with a full update but we wanted to go over our new trades. We are also hopeful that we will have our first video ready this afternoon or later this evening for those of you who have purchased our trading manual, How to Trade Options on Momentum Stocks, so we are sending today’s update out a little early as we spend the afternoon getting it to the internet for those of you have already purchased the trading course. Look for a special email later on today.
Remember, we are offering the option course for a very reasonable introductory offer and once we get the videos done the price will go up. We are also including a free 1-month membership to our exclusive trade picks (a $129 value) for a limited time for those of you who purchase the course now. This offer will likely end soon, so don’t delay. If you are serious about learning how to trade options then we believe you will find no better trading manual (with videos) at a better price.
We recommended 3 NEW TRADES this morning so we are also a little early as we wanted to go over them with our current subscribers.
As we head to press, the Dow is up by 124 points to 11,144 while the S&P 500 is higher by 13 points to 1,183. The Nasdaq is showing a 29 point pop and is at 2,447. We can’t call it any better than this, folks.
Things are looking good in the bulls’ neighborhood…
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