Trade Setups for June 18, 2010
The markets are open and so far it is nothing more than a tug-of-war between the bulls and bears for control of the day - neither side seems to have an upper hand over the other.
I may look to add couple of positions to the portfolio today at some point, more so out of a desire to test the waters than anything else. The market is ridiculously overbought right now, and believe this to be a good time to start adding a few positions. Ideally, I'd like to see this market climb up into the 1130 range before getting real heavy to the short side.
Today is quadruple witching so there will be a lot of people sit on the side lines and simply let the market run its course.
Here are Today's Trades...
SHORT: Fifth Third Bancorp (FITB)
LONG:Interactive Brokers Group (IBKR)