11:45am (EST) While we have been well prepared for today’s market drop, there are more profits we want to take in case there is a snap-back rally on Monday. We said a couple of weeks ago we were entering a “choppy” market so let’s ring the register on one trade
MomentumOptionsTrading.com Profit Alert for 6/1/2012
Dow Drops Below 13,000
1:35pm (EST) The market is down 1% following Friday’s disappointing jobs report but has bounced off its lows as we head towards the second half of trading. The talking heads are debating if the news means a slowdown in the economic recovery but we are more interested in the charts.
Bears Bite Back
1:45pm (EST) The market continues to see-saw as Europe’s woes came back in focus today on the possibility of a downgrade of French debt which has rattled the major indexes. Naturally, the Banking stocks here at home and across the pond are getting pounded. Bank of America (BAC, $7.10, down