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Daily Option Trading Commentary

Market Pricing In Budget Extension - Ride Your Calls and Raise Stops

January 18
Posted 9:30 AM ET - The market staged an impressive rally to a new all-time high yesterday. The price action was very steady indicating a strong appetite for stocks. The threat of a possible government shutdown is being discounted and the focus is on earnings growth. Stay long and keep raising your stops. The move this year has been characterized by gaps higher and closes that are above the open. This is a particularly strong pattern when it happens on consecutive days. In the next phase of the rally we are likely to see lower opens and higher closes. Apart…
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