Winning-Options.com

5 mins from opening today and futures are pointing to a lower start. After a run like that on Tuesday, market definitely needs a breather. Wednesday was Bernanke’s

day. A day where whatever he said was digested, vomited, re-ingested, re-digested, re-vomited….I’m sure many would have liked a follow-through, but market doesn’t quite care what we like, does it? A lack of follow-through on Wednesday usually signals a short-term pull-back.

Those in my private mail-list would have opened an iron condor yesterday. Depending on when your trades were executed, and no thanks the bid-ask spread, most of us should show either a slight loss or breakeven. Bid-ask slippage, for those new to the game, is part and parcel of option trading.

From here on, we sit tight.

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