Warning: Creating default object from empty value in /home/customer/www/optionpundit.net/public_html/wp-content/themes/salient/nectar/redux-framework/ReduxCore/inc/class.redux_filesystem.php on line 29
Another down day in the making - Learn to Trade Options | #1 Options Trading Education

Another down day in the making

Published on August 10, 2007

Another down day in the making

August 10, 2007

(for details pls visit www.OptionPundit.net)

Fasten your seat belts once again. Asia was broadly lower, shall I say sharply lower? Hong Kong down nearly 3%, Nikkei down over 2%, Singapore, India both over 1.5%, China about 2%, FTSE over 3.5%.

There is surely another down day in the making and hopefully we’ll have some nice opportunities when we start next week. I am over 55% in cash in looking forward to this correction, if I may say.

Countrywide (CFC) has give an unprecedented warning and stock is down about 15%. Something you don’t wanna miss for a bearish play (52wks low is 23.64 and I am quite positive about its opening below that). Is it another bankrupt in the making?

Looking forward to it, Profitable trading, OP

You May Also Like...

About OptionPundit

One Comment

OptionPundit says:

August 10, 2007 at 8:39 am

it didn’t open below the 52wks rather it found support at $25. Based on 10yr chart, 25 still shows pretty solid support. Once broken, it may touch $22.5 without too much fear. Cheers.

Reply

Leave a Reply Cancel Reply

DISCLAIMER AND NOTICES: None of OptionPundit or any of its officers, directors, employees, other personnel, representatives, agents or independent contractors is, in such capacities, a licensed financial advisor, a registered investment adviser or a registered broker/dealer. Options involve risk and are not suitable for all investors. All investors who deal with options should read and understand the publication "Characteristics and Risks of Standardized Options." A copy of this publication can be obtained by clicking on this link. OptionPundit does not promise, guarantee or imply verbally or in writing that anything taught through our newsletter, in any printed material, or displayed on our website will necessarily result in a profit. OptionPundit is the copyright owner of all text and graphics contained on this website. Copying, publishing or redistributing any material in any way without the written consent of OptionPundit is strictly prohibited.The owners, publishers, and agents of OptionPundit are not liable for any losses or damages, monetary or other that may result from the application of information contained within this website and/or newsletter. Within this website, we publish materials that meet specific criteria representing characteristics associated with described trading strategies. Individual traders must do their own due diligence in analyzing featured options to determine if they represent a suitable opportunity. OptionPundit and any of their agents, affiliates, representatives, employees, principals, business associates or affiliates, partners or independent contractors are not responsible for any losses or profits that may result from the application of information contained within this website and/or newsletter. Past performance is not indicative of future results. Option trading involves substantial risk. You can lose money trading options. The past results posted on this site are meant to give you a reasonable idea of what you could have made or lost trading by following the OptionPundit service but are in no way an exact reflection of what you would have made or lost. Therefore, you should not rely on our past trade results as a perfect replication of what your returns or losses would have been by following our service. There are inherent risks involved in the stock market and these risks should be considered prior to any decision. The representatives of OptionPundit may or may not hold a position in any stocks listed at the time of publication and reserve the right to buy or sell any security, option, future or derivative product without notification. Nothing published by OptionPundit should be considered personalized investment advice. Although the OptionPundit team may answer your general customer service questions, they are not licensed under securities laws to address your particular investment situation. No communication by the OptionPundit team to you should be deemed as personalized investment advice. OptionPundit products are delivered electronically by email and by access to a membership area where trade alerts and special alerts are posted. ©2015 OptionPundit. All rights reserved. Terms of use apply. Reproduction, adaptation, distribution, public display, exhibition for profit, or storage in any electronic storage media in whole or in part is prohibited under penalty of law.