Morning Commentary for Thursday Aug 5, 2010 – Weekly Options Webinar Tomorrow!

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E-mini S&P 500	1119.25	-5.25
EUR/USD	1.3199	+0.0027
30-Day Fed Funds	99.820	0.0000
Gold	1198.5	+2.6

Markets are trading a little down this morning as Jobless Claims were higher than expected. Unemployment is at 479,000, the highest since April. Bonds are ticking up as you’d expect if stocks are down. The market is likely waiting for the Employment Situation report due out tomorrow morning. Don’t forget the FOMC meeting announcement is next Tuesday. Potential exists for large and sudden moves. Consider protecting your positions before that announcement. As we’ve been discussing, add extra long calls and puts to buffer these large moves.

Dan is teaching a free webinar tomorrow about Weekly Options which are all the rage now. The title of the presentation is:

The Benefits and Dangers of Weekly Options

To sign up for this event, please visit:

http://www.sheridanmentoring.com/index/method/c.eventSignup.html

Do you have any questions Dan should go over in this class?
Please email info@sheridanmentoring.com if you have anything you’d like Dan to cover in this presentation about the Weekly Options

NOTE: We have a 200 seat limit at WebEx so only the first 200 attendees can join the meeting live. I’ll post a link to the archived session on the blog.