Economic Data Provide a Turbo Boost
Well, I didn't quite expect that coming into the day. A better-than-expected jobs number and a better-than-expected ISM services number pushed a day that had already started in the green right into the stratosphere. Fridays have become just huge days over the last month, holding big moves.
Why I have not been buying straddles on Thursdays, I'm not sure, as the last four weeks pretty much could have made the year. Taking a quick peek at the SPDR S&P 500 (SPY) chart, we can see a fairly wide bullish channel that has dominated trading since early June. The play seems to be to start buying within $0.50 of the bottom and start selling $0.50 near the top of the channel....275 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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