Market Rolls Over, 2 Actionable Trades on SPX for Today
By Matthew Buckley
In today’s Stock Market Financial Report, Matthew “Whiz” Buckley, Founder of Top Gun Options and the Manager of the Primary Model Portfolio, covers economic events from last week that are weighing on the market after yesterday’s weak rally, which he sold into. Mr. Buckley sees serious weakness in several areas, gives an in-depth report on non-farm payrolls and the unemployment report coming out Friday, along with consumer spending.
He reviews 2 bearish trades that he is adding to his model portfolios; a Nov Bear Call Spread (credit spread) on SPX – SPX Open Sell 5 Nov12 1470/1500 Call Vertical @ 8.00 Limit – and a very Bearish Double Vertical Spread (Bear Call/Put Spreads combined) on SPX – SPX Open Sell 5 Nov12 1405/1425/1465/1485 Vertical Spread Spread @ .40 Limit.
Make sure you watch today’s critical SITREP to see how Mr. Buckley is hedging out to November and how you can potentially profit near $15,000 if his strategic mindset holds.