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Daily Option Trading Commentary

Market Rally Ahead - Hold On To Your CallsĀ 

October 18
Posted 9:00 AM ET - Yesterday the market probed for support and the damage was minimal. Buyers stepped in before the low from Monday was tested. Gradually the bid returned and the market closed higher. We are seeing follow-through this morning and overnight earnings are adding fuel. I've been urging you to get long aggressively the last few days. We could see a 15 point S&P rally today. Mega cap tech stocks are moving higher and they have room to run. The budget resolution should get passed tomorrow. The focus will shift to tax cuts and that is market friendly.…
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