DailyMarkets.com - Hot Option Plays: Action Mixed On Light Volume

Hot Option Plays: Action Mixed On Light Volume
Meyers: “Need To Be Defensive…can’t Put All Eggs In One Basket”
Oil Rises On Storm Concerns, Global Data
Chinese Stimulus Hopes Lift Crude
Stocks Waver Near Flat Line
Mich. Politician Objects To Tickets Selling For 10X Face Value, What About Tickets 10X Below Face?
Sold DUST @ $46.25 [break Even]

Hot Option Plays: Action Mixed On Light Volume

Posted: 09 Aug 2012 11:27 AM PDT

Cusick’s Corner 08-09-2012
The shorts could not gain any momentum due to the better data and the bulls bounced — the market chopped into the green. I still do not like that action in Consumer Discretionary, XLY, which put the data in a less than rosy light. See you After Hours.
Market action remains mixed through midday. Economic data was in focus early after the Labor Department reported that filings for jobless benefits declined by 6,000 to 361K last week. Economists were expecting an … [visit site to read more] or compare Best Mortgage Rates, Credit Card Rewards or Best Credit Cards

Meyers: “Need To Be Defensive…can’t Put All Eggs In One Basket”

Posted: 09 Aug 2012 11:06 AM PDT

08/09/12 DME Securities’ Warren Meyers weighs in on the latest economic data releases and central bank policy expectations. The outlook for the broader market and commodity prices are … [visit site to read more] or compare Best Mortgage Rates, Credit Card Rewards or Best Credit Cards

Oil Rises On Storm Concerns, Global Data

Posted: 09 Aug 2012 05:30 AM PDT

08/09/12 Crude oil futures are trading higher on supply disruption worries as Tropical Storm Ernesto churns in Mexico’s Gulf Coast. US jobless claims declined in the latest week, Chinese data raised hopes of more PBoC … [visit site to read more] or compare Best Mortgage Rates, Credit Card Rewards or Best Credit Cards

Chinese Stimulus Hopes Lift Crude

Posted: 09 Aug 2012 10:26 AM PDT

Thursday, August 9, 2012
Crude Oil futures hit fresh 3-month highs on speculation that China may try to kick-start growth with stimulus. The expectation of a new batch of stimulus spending and Iran’s saber-rattling seems to have many traders’ focus at the present time. However, this may be a bit misguided, especially if inventory levels see significant increases. Some traders may look to upcoming inventory data to bring the market back to earth if things quiet down on the Iranian … [visit site to read more] or compare Best Mortgage Rates, Credit Card Rewards or Best Credit Cards

Stocks Waver Near Flat Line

Posted: 09 Aug 2012 08:40 AM PDT

08/09/12 Wall Street traded flat as global economic data and central bank monetary policy expectations were digested. US jobless claims declined and the US trade deficit narrowed … [visit site to read more] or compare Best Mortgage Rates, Credit Card Rewards or Best Credit Cards

Mich. Politician Objects To Tickets Selling For 10X Face Value, What About Tickets 10X Below Face?

Posted: 09 Aug 2012 08:22 AM PDT

Detroit News — “A state representative said Friday he will introduce legislation capping the markup on tickets sold on the secondary market — in particular on websites like StubHub — at 10 percent above face value.

State Rep. Douglas Geiss, D-Taylor, requested a bill in response to a story published Thursday on DetroitNews.com, which showed ticket prices for the Detroit Tigers’ upcoming seven-game homestand beginning Aug. 3 are, on average, listed at 17 percent above average ticket … [visit site to read more] or compare Best Mortgage Rates, Credit Card Rewards or Best Credit Cards

Sold DUST @ $46.25 [break Even]

Posted: 09 Aug 2012 07:54 AM PDT

I pitched my shares of Direxion Gold Miner BEAR 3X ETF (DUST) less than 30 minutes ago at my break even price of $46.25. I’d had a small gain on this trade a couple times in the past 4 days but when it looked like I was going to be thrown under the boat another time I decided to say enough. DUST reached $44.83 just a minute ago so I guess I managed to get off the boat with my shirt dry, but admittedly, just barely.

My TSI Trading record has been updated.

Gold futures (GC) … [visit site to read more] or compare Best Mortgage Rates, Credit Card Rewards or Best Credit Cards