Go Go Cisco

An email just came down the wire that one of my trade triggers was activated and executed to give me a nice 60% return on a CSCO 24 call option. It looks like the market has a fingernail hold on the record gains posted yesterday. This is very good news.

There's an older fellow that has traded on the floor at NYSE for almost 40 years and has seen everything. He is sometimes a guest commentator on CNBC's Squawk shows. Yesterday he was commenting on the pre-market move made by the central bank and the market's reaction before the opening bell. He said that we should watch closely the reaction of traders to a possible 11:30 pullback (it happened almost to the minute) and see if the market would hold on to the gains. If the market went up, it could be a sign that things have reached bottom in this financial quagmire. I'm not sold, but I like this guy, and everything he says comes to fruition. He knows the market and it shows.

If the market holds onto the gains today and posts even a modest gain, the rest of the week could be on the upside nicely. I'm looking forward to it. I'll post again later, but now I have to go shopping for my next good deal.

CZ