Futures are all over the board this morning – up, down, up, down – there will no doubt be a lot of factors affecting the market as we progress through the day. There is the RIMM earnings that missed, and then you have Durable Goods report at 8:30 followed by Consumer Sentiment at 9:55 and then to cap it all off there is the New Homes Sales at 10am (all EST), and we saw what kind of damper existing home sales put on the market yesterday. So a busy morning no doubt. Plus you have end of month window-dressing.
I’m going to be paying close attention to AAPL today, as there seems to have been a negative reaction to the RIMM earnings, but I’m curious to see whether traders will use it as an opportunity to shake out the weak-hands and buy on the cheap or if there really is concern about industry demand weakening for the iPhones.
Here are Today’s Trade Setups…
Long Setups: MTH, SNS (not many today)
Short Setups: ARAY, ALE, CT, GIB, VITA, PAG
HAVE A GREAT DAY AND GREAT WEEKEND Y’ALL!
