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Expect Volatility

Published on March 2, 2007

Expect Volatility

March 2, 2007

 Here is the daily OP report-

  • Mr. Buffett discloses 4% stake in Korea’s POSCO (PKX)
  • No Major economic data is expected 
  • Stock market futures are drifting lower, but that doesn’t tell anything. Futures were playing ping pong, started with green and turned deep red before opening. The Dow dropped more than 200 point to bounce back and close just below 30+ points.
  • There is news about dell, should you plan to play Dell, there is strong support at around $21, so keep entry/exit set-ups well defined and tight. 
  • Except Shanghai and Hong Kong, all other key Asian markets were in Red. 
  • Dean Food (DF) is giving away $15/share in dividends. I may plan to get into stocks to ride till x-dividend date. Stock is already up by 7% in pre-market hours. 
  • Some Pre-market gainers are – DRTE, DF, PKX, CTCM, SPN, FDP 
  • Some Pre-Market losers are – TSAI, DELL, EON, AU, MICC, DB, GLD

 Wish you profitable trading, OptionPundit

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