Current Long Positions (stop-losses in parentheses): TICC (9.62), BRKR (14.54), ITW (48.03), QQQQ (50.62), TIE (19.73), BEAV (31.75), PAG (13.62), DTV (41.99), ACI (25.54), EOG (97.52)

Current Short Positions (stop-losses in parentheses): None

BIAS: 83% Long

Economic Reports Due Out (Times are EST): Treasury International Capital (9am), Industrial Production (9:15am), Housing Market Index (10am)

My Observations and What to Expect:

  • Futures are moderately negative. Have rallied quite a bit though off of the morning lows.
  • Apple (AAPL), Citigroup (C), Halliburton (HAL), IBM (IBM) all report earnings today. 
  • AAPL will single handedly take this market down if they miss today. 
  • Last three trading sessions have seen solid levels of volume pouring in.
  • Market is quickly nearing its April highs. 
  • QE2 remains the market focus in the near-term. 
  • S&P continues to ride the 10-day moving average. 
  • Lots of reports due out this morning – CPI and Consumer Sentiment will be in focus.
  • Bears should make a break below Friday’s lows their main objective for today – (1166).
  • Dip buying crept back in the last hour of trading yesterday.

Actions I Will Be Taking:

  • Closed out my position in BEAV on Friday at $31.95
  • Added EOG early on in the trading session at $100.50.
  • Not hedged at all heading into the open.
  • Stop-loss changes made in ITW, QQQQ, TIE, DTV.
  • Could add an additional position to the portfolio under the right circumstances.
  • I’ve become much tighter/aggressive with the stop-losses, and more willing to take profits once there is any hesitation in the stock itself.
  • Will continue to tighten stop-losses as much as possible.