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Daily Option Trading Commentary

The Market Could Send Congress A Message As They Take Recess Without A Stimulus Deal

August 14
Posted 9:30 AM ET - Yesterday the market tried to challenge the all-time high and it was not able to punch through resistance. Trading volume is extremely light and we are in a news vacuum for the next two weeks. I believe the upside rewards are smaller than the downside risks and those who want to capture the last leg of this rally should do so on a day trading basis. The economic releases are minor. Retail sales increased 1.2% and the forecast was for a 2% increase. That is light given that we were supposed to see pent up…

 

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