OptionsHouse

Options Trading News

January 16, 2013  Wed 8:13 AM CT

SPX: SEE CHART GET CHAIN FIND STRATEGIES
We've forgotten how powerful it is to have markets fight back from bad openings like we had yesterday morning. When we were in sea-of-red mode, you could see that the market could go down for the count, given that the insane prattle out of Washington is so toxic as to make you feel like an idiot for buying anything.

I find it so disabling. In the old days, the Republican Party was the party of fiscal conservation, but it spent just like Democrats under George W. Bush.

The GOP was always the party that business could count on. But by simply pushing the notion that the debt ceiling is something that isn't routine--as opposed to offering a real plan that can win over Democrats who know we overspend as a nation--the Republicans can't even work with business.

So it was reasonable to think that this market couldn't come back from that ridiculously harmful rhetoric that President Obama gave us yesterday, even as it is true that a shutdown of the government by Republicans making a stand over a refusal to pay our nation's bills is not what the Constitution intended.

How much better would it be for the Republicans if they just immediately agreed to a debt-ceiling deal and at the exact same time showed where $2 trillion could and must be cut? They would be heroes.

Nevertheless, the market shook off the negativity. I think that's because people want in, not out, and they are afraid of missing the action.

Very bullish for the longer term.
Share this article with your friends


Related Stories

SPX

Futures inch lower before reports

August 3, 2015

S&P 500 futures are down 0.1 percent, while most of Europe rose about half a percent. Asia mostly declined on poor economic data, led by declines in Shanghai and Seoul.

SPX

ISM data kicks off busy calendar

August 3, 2015

Several noteworthy data reports comeout today, including the Institute for Supply Management's manufacturing index, construction spending, and personal income.

SPX

Stocks inch lower on mixed news

July 31, 2015

S&P 500 futures are off 0.1 percent, mostly tracking the moves in Europe. Asia was mostly higher, led by again of 1.5 percent in Mumbai, though Shanghai dropped 1.1 percent.

SPX

Chicago PMI, energy earnings due

July 31, 2015

Chicago PMI is expected to show a reading of 50.5 for July, up from 49.4 in the previous month. Exxon Mobil and Chevron announce results before the opening bell.

SPX

Stocks slide on weak GDP report

July 30, 2015

S&P 500 futures are down about 0.3 percent, while European indexes are higher by about 0.5 percent. Asia was mixed overnight, Tokyo up 1 percent but Shanghai down 2 percent.

OptionsHouse

Premium Services

Archived Webinar

Education & Strategy

Options Academy: At the Break

So far, my articles have taken you through a logical progression of option theory and fundamental concepts of options. As of yet, I have not mentioned a single strategy and for a good reason! The actual application of a strategy should come AFTER you learn about the option product itself.

View more education articles »