Market Mid Morning Snapshot:

I took a look at some technical charts today and they are saying as of right now, the market is going to bleed for a while. GOOG, AAPL FAZ QQQ and SPY are all saying the same thing.
However, things could turn around in the last hour of trading and modify what the charts are saying, but I don't find that likely today, the Markets are in a real funk with the moderately positioned payroll report being just good enough to tempt the Fed to raise the rates.

So how to profit off this situation? I would say with some slightly in the money puts that expire soon, maybe the 11th to get maximum return out of any move down that might happen on monday.
Of course, being a contrarian, I dont like to buy my options when they are at a premium price like the puts are today because the market is down. I like to wait for the market to surge the other way first, identify the top or bottom, and buy the other way's options on the cheap. Then the next day, they inflate quickly in price as the market goes the direction I predicted from using tech and fundimental analysis.

I will update later this afternoon and if anything else happens today, Ill be right here.

Tradinginsider