cgarner@alaron.com to receive a free informational packet.
Tech stocks were able to bounce back from the recent weakness. A boosted recommendation on Intel from Lehman Bros. boosted chip stocks, but gains were kept in check by disappointing news from Silicon Storage Technology. The software sector lead much of the gains.
The technical setup of the market is positive. The losses scattered over the previous sessions appear to have merely relieved the overbought status as opposed to a trend reversal. However, oscillator indicators are still looking near-term bearish.
For more specific trade recommendations, sign up for email by contacting Carley Garner @ 1-800-935-6492 or cgarner@alaron.com
Position Trade - No new positions
Options - We are long a Jan. 1610 call and short 2 1540 puts, for a total cost of $600.
Day Trade - With the January Effect coming early, longs are preferable to shorts. 1614 and 1605 are good buying opportunities.
Daily
Weekly
No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. In fact, there are frequently sharp differences between hypothetical performance results and actual results subsequently achieved by any particular trading program. One of the limitations of hypothetical performance results is that they are generally prepared with the benefit of hindsight. In addition, hypothetical trading does not involve risk and no hypothetical trading record can completely account for the impact of financial risk in actual trading. For example, the ability to withstand losses or to adhere to a particular trading program in spite of trading losses are material points which can also adversely affect actual trading results. There are numerous other factors relating to the markets in general or to the implementation of any specific trading program, which cannot be fully accounted for in the preparation of hypothetical performance, results and all of which can adversely affect actual trading results.
There is a substantial risk of loss in trading futures and options.
PLACING CONTINGENT ORDERS SUCH AS "STOP LOSS" OR "STOP LIMIT" ORDERS WILL NOT NECESSARILY LIMIT YOUR LOSSES TO THE INTENDED AMOUNTS. SINCE MARKET CONDITIONS MAY MAKE IT IMPOSSIBLE TO EXECUTE SUCH ORDERS.
Past performance is not indicative of future results.
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