Blood, Sweat, and FEARS 11-1 Recap and Tomorrow’s trade idea PCLN

Just when you thought it was safe to go back into the equity cookie jar, you get sabotaged by the Cookie Monster... Of course the cookie Monster is Greece. Greece is the worlds 32nd largest economy with almost 10 million inhabitants.

Greece
Greece causing market turmoil!

Its Prime Minister George Papandreou, was able to cause a worldwide panic sell off in the markets with his call for a referendum and confidence vote on friday. Now to those betting on a downturn, this was good news. Stocks sold off over 5% in most Europe countries, and 2%+ in US markets.

Whether the sell off continues tomorrow, is yet to be seen, as market futures are slightly higher as I write this:

US 30Dec 1111697.001168211716.0011618.0015.000.13%5:13:48
US SPX 500Dec 111226.451224.51228.451216.551.950.16%5:13:46
 NQ 100Dec 112310.302303.52313.802294.106.800.30%5:13:48

One of the Stocks I am watching into tomorrow are one of the high Beta Growth Stocks PCLN.

PCLN is a best of breed stock, but will succumb to continued severe price fluctuations based on market conditions. If there is a continuation of the sell-off, PCLN can see $460 in short order.

PCLN
PCLN Buy Puts 11-1

 

Have a Happy Trading Day on Wednesday folks!!!

 

Profile photo of jimmybobJimmyBob (Scott)has been trading equities for over 15 years, a majority of which were OTC micro-cap stocks. He started trading high risk stock options over the past 7 years, and has proven winning trades in excess of 15,000%.

As one of the Co-Founders of optionmillionaires.com, Scott enjoys sharing his knowledge with other investors through timely blog posts, daily watch lists in the forum, weekly webinars, and helpful advice within the chatroom.

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