Tuesday, August 31, 2010

Yesterday's Trading Recap

The arguably temporarily overbought market slowly leaked and trended lower all day. S&P' Futures ranged from 1062 all the way through the 1050 level to a 1048 close. This made for a excellent trend trade overall as GS lead the market most of the way. We are currently trading lower at the 1041 level coming into the am pre market.

It was a light day overall for calls in the room as we are phasing into the pre-announcement season. Ben will be on board and guarding for for these events as this is his primary style. Pre announcement, merger and buyout news has been paying him handsomely as August draws to a close. Feel free to chat with him as he is broadcasting live for the post market session daily starting at 3:45. t. Its been active in that area and we are expecting additional downside earnings pre-announcements considering the current market environment.

Thanks for checking, have a great day trading...Tim.

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