Waiting for a Decision

Not much to say today. All eyes are on the upcoming election and I expect to see the same tomorrow unless some rumors start to float regarding a winner. However, I expect to see a highly volatile market once the election is over and up until the announcement of the highly anticipated jobs report on Friday. It will be an interesting week indeed.

Until then I will be patiently waiting on the sidelines.

Have a great night!

Overbought-Oversold levels for November 3, 2008

ETF Extremes Options Trading Strategy

* S&P 500 (SPY) – 62.5 (neutral)
* Dow Jones (DIA) – 62.1 (neutral)
* Russell 2000 (IWM) – 66.9 (neutral)
* NASDAQ 100 (QQQQ) – 63.2 (neutral)

Sector ETF Extremes Options Strategy

* Biotech (IBB) – 72.0 (overbought)
* Consumer Discretionary (XLY) – 59.2 (neutral)
* Health Care (XLV) – 60.9 (neutral)
* Financial (XLF) – 60.3 (neutral)
* Energy (XLE) – 57.2 (neutral)
* Industrial (XLI) – 60.3 (neutral)
* Materials (XLB) – 59.5 (neutral)
* Real Estate (IYR) – 53.3 (neutral)
* Retail (RTH) – 65.4 (neutral)
* Utilities (XLU) – 56.5 (neutral)

Ultra Extremes (Insiders Page Only)

* Ultra Long (SSO) – 63.5 (neutral)
* Ultra Short (SDS) – 35.7 (neutral)

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