The NASDAQ 100 (QQQQ) Gap Fade options strategy was extremely close
to a signal at the open this morning, but unfortunately, QQQQ opened
slightly below yesterday’s high. The last few trading days have been
close calls for the the Gap Fade strategy as QQQQ has closed near
session lows and highs. Today was no different as QQQQ closed near the
session lows at $48.54, with the low being $48.47 so a lower open
tomorrow coutld trigger a signal if the initial decline is deep enough
to warrant a good risk/reward and therefore a trade. Subscribers to the
strategy, as always, will receive a real-time trade alert when and if
one occurs. As for the rest of you, well, I will inform you here (at
the daily options blog) of any trade and the success/failure of the
trade.
As for the other sectors I follow in the overbought/oversold section
below, every single one is in a neutral state so I will remain
patiently on the sidelines, sitting on hands, until the Mr. Probability
shifts in my favor.
I would like to thank all of you you have commented on the new
format and the options strategies I follow. I hope to bring you more
continued success in the future as I am in this for the long-term and I
hope you are as well. We build wealth slowly here as I use a simple,
yet effective options strategies that have proven the test of time.
Hopefully, the new Sector ETF Extremes will folow in the footsteps of
our flagship strategy the ETF Extremes which has made over 150% since
its inception over two years ago. During that same time frame the
S&P 500 has gained barely over 10%.
I do not claim to make outlandish gains and trade fairly
infrequently which is why my strategies are so reasonably priced.
Furthermore, like many of the other options strategies that are used by
others, my strategies are not exposed to the market every day. Actually
my strategies are typically only exposed to the market a few days a
month. The performance of the ETF Extremes options strategy
has proven that trading less often produces better results. Give the
strategy a try. If you are not 100% thrilled then do not hesitate to
email within 30 days and we will refund your money immediately.
Overbought/Oversold Levels for June 17th, 2008
ETF Extremes Options Strategy
- S&P 500 (SPY) - 41.5 (neutral)
- Dow Jones (DIA) - 38.6 (neutral)
- Russell 2000 (IWM) - 55.7 (neutral)
- NASDAQ 100 (QQQQ) - 49.5 (neutral)
Sector ETF Extremes Options Strategy
- Biotech (IBB) - 45.1 (neutral)
- Consumer Discretionary (XLY) - 43.6 (neutral)
- Health Care (XLV) - 42.1 (neutral)
- Financial (XLF) - 37.2 (neutral)
- Energy (XLE) - 63.8 (neutral)
- Industrial (XLI) - 34.8 (neutral)
- Materials (XLB) - 55.3 (neutral
- Real Estate (IYR) - 59.8 (neutral)
- Retail (RTH) - 45.1 (neutral)
- Utilities (XLU) - 65.6 (neutral)
If you would like to follow my strategies with real-time alerts or
have them autotraded by a participating broker please click the
following link: SUBSCRIBE