October 8th, 2009
"Your book (Commodity Options) just paid for itself 358 times today...I'd call that a good investment any day!!! I'm buying 2 next time"~Jonas Miller. Pick up a copy of "Commodity Options" at any major bookstore or online outlet!
Here we go again...this rally isn't over folks
A good start to the earnings season looks to have greased the way for a retest of the major highs in the indices. Kicking off the good news was a reported profit from Alcoa Inc. The news hit the wires yesterday after the bell and it took a little longer for the futures market to react but sure enough the major indices made their way higher into Thursday morning.
Also helping the market to retain gains after such a strong up-move, U.S. retailers posted their first monthly sales increase in more than a year. The market saw this as a positive sign that consumers might be making their way out of hibernation.
Our initial upside targets haven't changed. We are looking for about 1075 in the S&P, 1745 in the NASDAQ and 625ish in the Russell. At these levels we will be short-term bearish...and then we will re-evaluate from there.
We certainly aren't perfect and we don't have a crystal ball either. Nonetheless, we have managed to call the markets pretty well this year. Here are just a few...Does your broker do this for you?
* Due to time constraints and our fiduciary duty to put clients first, the charts provided in this newsletter may not reflect the current session data. However, market analysis and commentary does. Charts provided by Track 'n Trade, Gecko software.
**Seasonality is already be factored into current prices, any references to such does not indicate future market action.
Please note: A mini S&P chart is used because it is better for charting purposes, but trade recommendations are based the full sized S&P unless otherwise noted.
S&P 500 Futures and Options Trading Recommendations
**There is unlimited risk in naked option selling and futures trading
Position Trade -
Flat
Russell Futures and Options Trading Recommendations
**There is unlimited risk in naked option selling and futures trading
Position Trade -
Flat
Please note: A mini-NASDAQ chart is used because it is better for charting purposes, trade recommendations will denote whether a mini or full sized contract should be used.
NASDAQ Futures and Options Trading Recommendations
**There is unlimited risk in naked option selling and futures trading
Position Trade -
Flat
Carley Garner
Senior Analyst / Commodity Broker
DeCarley Trading
1-866-790-TRADE
Local : 702-947-0701
http://www.carleygarnertrading.com/
http://www.decarleytrading.com/
*Due to the volatile nature of the futures markets some information and charts in this report may not be timely.
There is substantial risk of loss in trading futures and options.
Past performance is not indicative of future results. The information and data in this report were obtained from sources considered reliable. Their accuracy or completeness is not guaranteed and the giving of the same is not to be deemed as an offer or solicitation on our part with respect to the sale or purchase of any securities or commodities. Any decision to purchase or sell as a result of the opinions expressed in this report will be the full responsibility of the person authorizing such transaction.
