For: Wednesday 08-11-2010

Rising Wedge Bleeds Red

There was a dramatic sell off in the stock index futures. The action started in the after hours session on Tuesday and bled all through the night into the opening. The market surged lower and we are seeing similar weakness in the spreads and in the energies and precious metals. Given the chart formation we will look to buy put spreads and sell calls to help finance the trade.

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