Stock Option Trading Strategy – Play golf or catch a good movie.

July 3, 2007
Author: Peter Stolcers, Founder of OneOption

Overnight strength in Europe and Asia are propelling the market higher today. In the absence of other news, this will be the driving force today. In the chart you can see that the market has been able to move above the middle blue line that represented a very minor resistance level. If it can close above the upper blue line, it is likely to challenge the all-time highs. I don't see that happening today. I expect the market to establish an early range today. Thursday will be light and the market will be nursing a holiday hangover. It will also be preparing for the Unemployment Report Friday. You have a few choices today. You can conduct research and look for stocks that might be of interest in the coming weeks, you can get in a round of golf or you can catch a good movie. You'll notice trading did not make the list. During these quiet periods, it is common to force a trade and have it backfire on you. I am going to take advantage of this lull by putting the finishing touches on my covered call writing educational program. Take some time away from the market and celebrate our freedom. Have a safe and happy 4th of July.image

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