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Trade Recommendations for Wed. Sept. 7th
Tuesday, September 06, 2011
by Arman Vahdatinia of Expo Futures
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Hello All,
Following zero jobs growth on Friday, the big news of the day was the SNB pegging it's currency maintaining a bid above 1.20 vs. the Euro. Everybody is watching developments out of Europe, there are negotiations with respect to proper collateral for a Greek bailout, and Italy is to vote on austerity measures amid a strike. The Euro breached key support at the 1.40 marker and will most likely attempt a test of the previous low around 1.38 on the current leg. On the energy front, oil was weak on the heels of bad employment data, but surprisingly ended the day strong. Overall, a lot of mixed signals on the day, and although Gold had a setback in reaction to the SNB move, the U.S. 10 yr yield hit a new low at 1.91% and in my opinion is the true barometer for our economic health. The S&P has had its worst ever 3 day start for September, and we look towards unemployment claims later in the week along with separate economic addresses from Bernanke and Obama.
1) Sell Sept Emini S&P at the market (1171), with a 1190 stop. Exit Thurs night.
2) Sell Oct. Crude at 86.74, with a 87.76 stop. Exit 83.19.
3) Sell Sept. Euro at 1.4088, with a 1.4140 stop. Exit 1.3870. To my receive my market commentary via email, request a free trial.
Best,
Arman Vahdatinia President, Chief Market Strategist 1-877-338-EXPO [3976] ext. 25
*There is a substantial risk of loss trading futures and options. Past performance is not necessarily indicative of future results.
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About the author
Arman Vahdatinia is the President and Chief Market Strategist for Expo Futures & Options. Attending San Jose State University he double majored in Economics and Computer Engineering, which were the leading factors that naturally drew him to the derivative markets. As his career developed, he grew the desire to obtain a broader range of control over the accounts he managed and thus formed Expo Futures & Options. He focuses a good portion of his research on technical analysis and desires to share his knowledge and expertise to individuals that share the same passion. Often asked about his performance, he has a simple response: “Rather than tell you, I’ll show you”; as noted in his nightly trade recommendations for the following day. Primarily an option seller, his daily analysis contributes to the broader picture of probability with respect to where a market will not go, rather than will go. To participate in his option writing program, feel free to contact him directly. Arman can be reached at 1-408-378-1800 or Arman@ExpoFutures.com. About Expo Futures & Options: An online commodities trading firm offering all the amenities you look for in a futures brokerage. We pride ourselves on surpassing expectations by providing an unparalleled level of service, security, and advanced trading technology to accommodate our client’s needs.
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