Wall Street posted modest gains today as fears of an economic slowdown wane. Economists consider the current recovery a sustainable one. On the other hand, unemployment remains high with the fact that some jobs have been lost for good. Additionally, many fear that the recovery is a bubble that will soon burst. That bubble bursting may pull the markets down to retest the March lows. Until that happens, though, it looks like we are heading higher.
Our trade team opened a call spread this morning and it expired for a 3.1% profit! The cumulative gross return on the month is 12.8%!
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