Rising Ceiling
4th April 2010
The good news is that stocks continue to act like they have hit a ceiling, but the ceiling keeps getting a little higher. For now, those levels are 11,000 for the DJIA, 1200 for the SP 500, and 200 for the MNX. The bad news is that the down days are coming with more volume than the up days. There is no reason to be overly bullish or bearish at this time. Option traders continue to be best served with spread trades sell some premium to take advantage of time decay.
JD
