The following report is our daily guide to what's happening here at The Option Spread Portfolio. The report gives our current market outlook, current positions with entry price, target exit, and stop loss. Below the position table, we have given notes about each portfolio for the day. 

Market Outlook (06/17/13) - Market Continues Up, Down, Up, Down... Today Up

The market is starting off stronger this week on the back of the better than expected Empire Manufacturing Report that came in at 7.8 versus 0.8 expectations. Further, we are looking to gap up on Monday due to hopes for the Fed to provide clarity for investors.

Overseas, the markets looked good with 7/8 major foreign markets rising today. The catalyst was likely the Fed as well.

If the Fed is causing most of this move then that is something to fear because the Fed could easily decide to announce an early taper start confirmed than previously expected. There was no major foreign data to provide other than reasons for the move in the those markets.

At 10AM, we will get the NAHB Housing Market Index, which should provide some movement for the marker as it is expected to rise. A miss there could suggest potential miss in many housing data points this week and could create some turmoil. 

For today, look for a strong open on the market with a gap and some buying to start the day, but since we are rallying on hopes of the Fed, we would not expect early strength to last and could see a move back down albeit at about 50% of original gap up.

Current Positions

Note: If you have any questions about today's positions, we are on the chat all day to answer all questions. We can explain our reasoning behind getting into these positions as well as any other questions you might have about The Options Spread Portfolio. We are here to help you!

Good Investing!

The Options Spread Portfolio team