ISM reports were released earlier then scheduled, before the market open and that in itself is something to think about. Reports were way under the market expectations and participants managed to digest the news without too much fear and emotions. Another original way to support the markets and seems FED and so called or rumoured Plunge Protection Teams are doing everything to avoid the free fall.
Markets GAP opened lower and likely bouncing off expected supports levels.
We closed our FMCN trade and opened another in main market index $OEX (Trade # 12)
2008 Project MERCEDES .. TRADE # 10: FMCN
Feb 04, 2008 10:00:59 FMCN Buy Mar 50 Put $ 5.70 .. 2 Contracts
Feb 05, 2008 11:11:43 FMCN Sell Mar 50 Put $ 6.20 .. 2 Contracts
Time: 1 Day
Return: 8.87 % or $100.00
Account Value: $ 6664.00
Good day.
Harry
