Our goal was to hold at least to yesterday's close by day end, as it would signal some strength to a light volume rally. Talk about low volume and "death" moves. By 1.30 p.m.the market had barely moved. Risk traders were able to buy the new recommendation to the Sept500Call, as low as 3.00 in early morning trading. As the option closed at 3.40 this "best buy" was a stretch, and not quite a "best buy," but we are listing for any risk traders that may have bought in at 3.00. It could have sold for 3.40 by 3.21 p.m., but we'll bet most risk trader kept the issue for day close tomorrow.
We'll hold this position, and note again only risk traders, for any slight bump on Friday, pre-holiday weekend. Do not trade any other new signals, and enter the holiday weekend with no inventory.
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