Current Long Positions (stop-losses in parentheses): TICC (9.62), BRKR (14.75), ITW (48.89), QQQQ (50.62), TIE (19.73), PAG (13.62), DTV (41.99), ACI (25.54), EOG (97.52), ANN (21.06), ESRX (46.42), AAPL (284.00)

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

BIAS: 91% Long

Economic Reports Due Out (Times are EST): ICSC-Goldman Store Sales (7:45am), Housing Starts (8:30am), Redbook (8:55am)

My Observations and What to Expect:

  • Futures are taking a hit this morning – particularly Nasdaq due to the Apple earnings released yesterday. 
  • Goldman Sachs (GS) and Bank of America (BAC) will be the main focus of the market today. Other notables include Johnson & Johnson (JNJ) and Coca-Cola (KO).
  • This is turning into probably one of the more interesting markets sessions we’ve seen this year with the abundance of earnings news being reported. .
  • Be very careful in the market today and weary of a potential meltdown – keep the stops tight. 
  • BAC earnings report is being received unfavorably by The Street. 
  • S&P needs to watch 1166 and whether the market holds it, if tested. 
  • Housing Starts is the most important economic report due out this morning. 
  • Dip Buyers have one heck of a task on their hands today if they want to see this market finish positive on the day. 

Actions I Will Be Taking:

  • Stopped out of PAG for a 2% gain. Closed out ACI for a small loss (-2.3%), and TIE for a small loss (-3%). 
  • Added ESRX and ANN at the market close. 
  • Added AAPL in after hours action at $297.41. Will keep a tight leash on this one. 
  • Not hedged heading into the open.
  • Stop-loss changes made in BRKR and ITW. 
  • ITW reports earnings this morning. Action in this stock will be significant one way or the other. 
  • 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 (i.e. 
  • Will continue to tighten stop-losses as much as possible.

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