Stock Market
All comments and Stock Market Ananlysis are made by Guy Brumley. Guy has been trading the Stock Market daily since 1992.
Trading, evaluating stock prices and predictions
Market Commentary 2-25-2009
This is the third day after option expiration. The market makers have had time to adjust their inventories. The gold run to $1000 of last week has returned to $951. ISRG has dropped as low as $97 from the $115 of early last week. It closed at $101. It is amazing to look at all the options that close worthless last week that would have been profitable in the last three days.
This first week of this month’s options is normally quiet. Not until the earnings warnings and preannouncements begin does the market get volatile. We are still in a downtrend, with the lower 6000 level on the DOW looking very possible. Right now, the only play that seems to be working is to fade the market swing. If we run up in the morning then sell, if we go down buy, and be happy making a short-term gain of 1-3 points.
The most important part of today’s trade is to be in cash at the end of the day.
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