First, I would like to announce that our Short Iron Condor strategy looks like it will once again finish within our chosen range. Today we could buy back our credit spread for roughly $.25 per contract. The underlying SPX is now 32 points away from our short strike. It would take a move of over 2% for it to breach our short strike. Certainly possible, but unlikely. Remember, since SPX is a European option so it settles at the opening price on Friday. This gives us only four trading days until option expiration. This will be our third straight month with gains over 10%.
I would also like to let everyone know that we will be offering the opportunity to have our Short Iron Condor auto-traded. We will be limiting the amount of subscribers to 75 so spots will go quickly. If you wish to participate email us at
support@crowderinvestments.com
and we will do our best to save you a spot once we make the portfolio live, which will occur after the March expiration cycle.
Overbought/Oversold levels for February 9, 2007
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SPY - 41.0 (neutral)
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DIA - 38.4 (neutral)
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IWM - 51.9 (neutral)
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QQQQ - 37.2 (neutral)
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OIH - 61.8 (neutral)
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GLD - 79.7 (overbought)
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Have a great night!
Andrew Crowder, Chief Investment Strategist,
www.crowderinvestments.com