Ladies and Gentlemen. I have a few stock options that I am looking to get into tomorrow. Right now futures are lower with risk currencies taking a hit as well. Commodities are lower with Silver down close to 1%. This seems common place these days. Earlier this year futures weren’t allowed to fall very far and each morning we awoke to bright green. While I am a bear at heart I still don’t see the cataclysmic decline that many see coming right now. The central banks still have more can kicking to do.
With the dismal jobs outlook stocks should be lower. No doubt about that, but the reason they are higher than they should be is Central bank Manipulation. The Liebor Scandal, in my opinion in the tip of the iceburg… but that is a post for another day.
What am I looking for tomorrow?
I have the AA $9 calls at $.15. Those, as it stands from afterhour action, will likely open at $.06-.07. I may look for $9 calls next week expiration for $.12-13.
SINA I have the $52.50′s from today. I am up on them as SINA rallied later in the session. The $50 mark has been a strong magnet. We could see a strong rally this time off that figure.
IBM while the chart has some holes in it, I like the risk on the $195 calls. This was a $197 stock 3 days ago and tried to get back over $190 today. A 2% move higher makes these IBM $.17 x $.20 calls worth over $1.00. Not a bad gain in my book.
I’ll be watching a few others closely in the chat room. There is no telling for sure where we open tomorrow. I’ll see you before the open.
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