Tonight's Debate Could Move Energy Names

I expect a few folks will position going into this evening with certain expectations about tonight's Presidential debate, but outside of the energy sector moves in oil, coal or natural gas, I don't believe it will significantly affect stocks. The non-farm payroll report on Friday is too big of an overhang for anything beyond a quick scalp. I like the risk-reward with natural gas or possibly even a few beaten-down coal plays overnight. If nothing develops in the coal space on the open tomorrow, I will jettison the name, regardless. My inclination in the coal space would be to use Arch Coal (ACI) or Cliffs Natural Resources (CLF) and stick with in-the-money calls with a timed stop-out. I would not carry the trade through the end of the week even if it were going in my direction and I would bail immediately if coal were weak in the morning. 

I do have a share short on in AcmePacket (APKT) but I do not intend to carry this overnight. My upside stops are now placed at $19.15 and $19.30. Along these same lines the $114.80 level does appear key to me on the SPDR S&P 500 (SPY) running into the last 90 minutes of the day. Again, I think this is a short worth chasing, but only on a timed-stop basis as well as price. Stops for the price would be around $145.15 and I would begin to close it in the last 30 minutes of trading....338 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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