Tuesday, March 20, 2007
Back In the Game!
We got filled and to be honest it's great to be back!! Its been a while since we have been in the markets together and I have missed it.
We got a great fill yesterday of $1.30 for our Call Side only spread.
This means we currently have no downside risk. Which some might say is a shame given the move the markets made yesterday!!!
The week started off to a good start for the markets with the Dow seeing a triple digit gain adding 115.76 points on the session to close at 12,226.17. The SPX added 15.11 points to 1,402.06.
Merger activity got things off to a good start Monday with about $10 billion in deals announced. However, there also were reports of some even larger deals in the works, including the possibility of Barclays (an English bank) buying ABN Amro. The reason this bouyed the markets is the fact that other US banks (Bank Of America being cited) may well bid for ABN and this raised ABN's share price.
In economic news, the Housing Market Index fell to 36 in March from 39 in February. Within the report, the six-month outlook took a hit with builders unsure of how the sub-prime debacle would hurt sales going forward. The decline in the index was the first since last September.
However the real the focus this week remains on the Fed statement on Wednesday with the traders hoping the Fed will ease its concerns about inflation, opening the door for rate cuts in the near term. If it doesn't then these markets may just take another hit.
With no downside risk that wouldn't be too bad!!!
Until next time.
We got a great fill yesterday of $1.30 for our Call Side only spread.
This means we currently have no downside risk. Which some might say is a shame given the move the markets made yesterday!!!
The week started off to a good start for the markets with the Dow seeing a triple digit gain adding 115.76 points on the session to close at 12,226.17. The SPX added 15.11 points to 1,402.06.
Merger activity got things off to a good start Monday with about $10 billion in deals announced. However, there also were reports of some even larger deals in the works, including the possibility of Barclays (an English bank) buying ABN Amro. The reason this bouyed the markets is the fact that other US banks (Bank Of America being cited) may well bid for ABN and this raised ABN's share price.
In economic news, the Housing Market Index fell to 36 in March from 39 in February. Within the report, the six-month outlook took a hit with builders unsure of how the sub-prime debacle would hurt sales going forward. The decline in the index was the first since last September.
However the real the focus this week remains on the Fed statement on Wednesday with the traders hoping the Fed will ease its concerns about inflation, opening the door for rate cuts in the near term. If it doesn't then these markets may just take another hit.
With no downside risk that wouldn't be too bad!!!
Until next time.
# posted by Paul @ 4:52 AM 
