Interesting markets these days, huh? Worth mentioning right now
that, assuming the bottom doesn't drop out tomorrow, our condors are in
good shape this month, and we'll be looking at the December cycle late
this week/early next week. In the mean time, here are some trades you might look at:
1. CitiBounce

Yes,
this happens to be the play that every other talking head was
suggesting all day on Bubblevision. And for most of the day they were
all just cheerleading. But when you look at how it closed today, it
seems like a rational bounce isn't just due, but even likely. That money flow reading is kind of scary - nobody wants to be a bag-holder,
especially when there's a disoriented gorilla in the bag. But that RSI
can't stay put forever, and even if nobody gives Citigroup (
C) any love this week...
To read the rest of our analysis, click through to our
iron condor trading blog...