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| OEX Options, S&P eMini and Russell eMini Futures |
| Sunday, September 30, 2007
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Wednesday, September 26, 2007 -- If only every day were this easy!
Our system alerted members of a high probability advance on the OEX index. To increase the reward and lessen the risk, the entry was for Call options on a pullback to 712. Notice the chart illustrates this pullback to within a fraction of a point. Almost immediately, the OEX attracted buying interest and a +3 point rally followed.
The chart also illustrates the area where we suggested taking profits. It's nice to book +15% profits in 20-30 minutes. It frees up the rest of your day to relax!
On this day our members profited with Call Options.
Tuesday, September 25, 2007 -- It was an exceptional day of trading for members of OEXSTREET.COM
The morning started out with a crystal clear signal to enter the Russell eMini Futures and netted $240 per contract in less than 6-minutes !
We then went 3-0 on the S&P eMini Futures for a gain of +16.75 points (+$50/point).
We ended the day with an afternoon Call option trade that netted a small profit.
On this day our members profited with Call Options, S&P Futures, and Russell Futures.
Tuesday, September 18, 2007 - The market was caught by surprise today when the Federal Reserve not only cut interest rates, they did so by 50 basis points. The market always reacts violently to surprises, no exceptions.
We noted the 2.74% rise in the S&P 100 Index today. To get an idea of where the index is in relation to recent price action we look to the 60-minute OEX chart. Included for reference is the standard RSI indicator with the 70/30 Overbought/Oversold levels highlighted. Typically when the 60-minute OEX chart breaches either level, a retracement is seen prior to the extension of the trend breakout. The RSI closed at 78.49 today, breaking into this overbought condition. This is the highest reading since April 17, 2007.
Confirmations are a must for any successful trader. Specifically, a divergence between price and momentum can confirm conditions and increase the probability of a retracement. This has not occurred. We obviously need more time for this to develop but it is something we are paying close attention to. It would not be a surprise to see an exhaustive gap open which, in turn, triggers short-term profit taking from "smart money".
Try NOT to Predict what is going to occur, Rather be Prepared for what May occur.
Monday, September 17, 2007 - This is probably the most important week of the year as we learn where interest rates are headed. The outcome of this FOMC meeting will be the deciding factor that drives the market the remainder of the year.
On an intraday basis, our Key Levels guided members through the day. These levels are extremely accurate. In fact, the calculated intraday low was reported at 689. The actual low today was 689.05. Keep in mind these Key Levels were printed over 2 hours before the fact.
We encourage everyone to use OEX Street's Key Levels because of their significant ability to anticipate support and resistance areas. Knowing when to sell a position is probably the hardest thing a day trader faces. These Key Levels definitely remove much of the guesswork.
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| posted by OEX
: 5:10 PM |
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