Wednesday, March 7, 2007

HOTS Mid-Week Options Commentary

HOTS Mid-Week Options CommentarySocialTwist Tell-a-Friend
Peter Stolcers

The market bounced from an oversold condition yesterday and the retail public was reassured that all is well. SPY 140.50 represents horizontal resistance and SPY 141 is the 100-day MA, both should provide a temporary "lid". If the bulls can't add to yesterday's gains and make a new intraday high after noon CDT, I feel the bears will try to push the market lower into the close. Higher oil prices and the Beige Book (11:00 am PST release) could provide headwinds.

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