DailyPlay Positions Outlook:
The S&P 500 (SPY) failed to follow through on its breakout Tuesday, leaving SPY at $303.21. Such a failure is considered bearish by many market technicians. Uncertainty about earnings guidance and international affairs probably helped stall the markets’ rally, at least for the day. The October 15 Daily Trade on Colgate-Palmolive (CL) has posted a small gain and seems to be stuck in a trading range. Therefore, it’s time to take profits.
Closing Trade
- CL – 19% Gain: Long CL Nov 29 64.5/69.5 Put Verticals @ $1.94
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