Daytrading OEX options with a method, not a trading system Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Daytrading OEX options with a method, not a trading system

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: John F. Summa who wrote ()	7/20/1999 9:25:00 AM
From: John F. Summa	of 62

OptionsNerd.com Morning Briefing Tuesday, 7/20/99 Market Comments: Overseas equity markets are mixed (Europe lower, Asia higher). S&P 500 futures pointing to a moderately lower opening for U.S. stocks (S&P 500 Futures are trading 6.18 points below fair value). Microsoft's revenue growth warning for year 2000 may take the techs down further today, and set the general tone for the day, despite easily beating the Street along with IBM. Given our overbought conditions (see put/call ratios below), we may see the beginning of some more aggressive profit taking today, which should set up a nice put play entry point by late morning. As always, we will keep you posted regarding any trade signals. Please note: The Morning Briefing is now posted at the OptionsNerd.com homepage, so if you have not received it in your email box by 9:15 EDT (due to ISP problems here or on your end) you may view it there. Happy Trading! _________________________ Outlook for U.S. Equities Short-Term Outlook (1-3 days): Neutral-to-Bearish Medium-Term Outlook (1-4 weeks) Neutral-to-Bearish Long-Term Outlook (8-16 months) Bearish ______________________ Financial and Overseas Equity Markets (8:14 AM EDT) Paris CAC 40: -0.95% Frankfurt DAX: -1.48% London FTSE-100: -0.64% Japan Nikkei: CLOSED HK Hang Seng: +1.14% $/Yen +.21% [8:20 EDT] $/DMark -.85%[8:20 EDT] 30-Year T-Bond Yield: 5.91% (+.49%)[8:52 EDT] S&P 500 Futures: -7.00 [8:49 EDT] Comments: Overseas equity markets are mixed (Europe lower, Asia higher). S&P 500 futures pointing to a moderately lower opening for U.S. stocks (S&P 500 Futures are trading 6.18 points below fair value). _______________________________________ OEX Options, S&P Futures and Stock News U.S. stock index futures end mostly weaker (Reuters) biz.yahoo.com - Jul 19 5:49 PM EDT U.S. debt futures end narrowly mixed (Reuters) biz.yahoo.com - Jul 19 5:22 PM EDT ________________________ Major Averages and Indexes (Previous Close) DJIA:-0.2% DJTA: +1.8%* DJUA: +0.4% S&P 500: -0.8% NASDAQ: -1.2% Russell 2000: -0.8% NYSE Comp.:-0.7% AMEX: -0.1% Transports failing to confirm 1999 DJIA new highs--bearish divergence. ________________ OEX (S&P 100) Daily Data High=735.73 Low=726.59 Close=728.04 Change= -5.75 (-0.8%) Pivot=730.12 Pivot 3DMA=728.76 10-Day Average Daily (Outside) Range=11.47 R1=733.65 S1=724.51 R2=739.61 S2=720.98 To project today's high/low, add this value to the low of the first hour of trading (=projected day's high) and subtract it from the high of the first hour of trading (=projected day's low). These projected levels would apply if a daily trend develops outside of the first hour of trading. This is not an exact science, but does give a basic framework to help with trading decisions. _______________ S&P 500 Futures Settlement Prices Previous Trading Day SEP99 (Spoos) Open=1427.30 High=1431.20 Low=1413.50 Last=1417.50 Settlement=1418.00 Change=-950 _______________ Market Internals NYSE Volume=641Million (-) NYSE Breadth= -558 (-) NYSE Up/Dwn Vol Ratio= 0.5 (-) NYSE 10-DMA Adv/Dec Ratio=0.96 (-) NYSE New High/New Lows=93/35 (-) TICK=+210 TRIN=1.35 NYSE cumulative advance-decline remains in bearish decline, as do cumulative advance-decline lines for all major U.S. stock exchanges (data not shown here). ________________ Market Sentiment Equity Only Put-Call Daily Ratio=.42 (+) Equity Only Put-Call Ratio 10-DMA=.39 (+) OEX Put-Call Ratio Daily=1.73 (+) OEX Put-Call Ratio 10-DMA=1.29 (+) Total CBOE Put-Call Ratio=.52 (+) Total CBOE Put-Call Ratio 10DMA= 0.51** VIX= 19.47(Previous Close=18.13 ) (Change= +7.39%) * Bearish Bearish _________________ OEX Trade Positions OEX1: Flat OEX. No trades. _____________________________________________________________ Disclaimer: Trading is risky business. Past performance can never guarantee futures results. Trade at your own risk. All losses are your own.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next