Hey gang,
Well INTC reported and had good numbers, but almost looks to be a non event. We shall see tomorrow, but I believe the stock had the move or most of it priced it and I don’t expect it to do much if anything tomorrow.
We had a high on the SPX of 1150.41 another new high and another day in the green. My question is where is the volume. The bearish divergence is getting stronger and stronger and eventually you run out of buyers. The RSI as Pram is now interested in and a great indicator is 68.20 on the daily and 70 is considered to be where the sellers will come in. So I am watching for this signal.
I had a good day today being short POT SHLD GOOG (credit spread & BF) nothing to scream about but these days I am thrilled to eek out some profits.
JPM is reporting in a.m and that should give the market some cause to make a move, possibly one last gasp for romance?
Next week and the following week are the weeks I am waiting for. There are the most companies reporting then and we should have some juicy choices.
I have some great earnings plays for a few that I am quite comfy with.
The dollar ended the day low (again) after rallying up a bit earlier in the day. The Fed just sells the $DXY when the tape is starting to go lower. How long can they manipulate this tape, well as long has they have green ink.
Here is a chart on the SPYs these are the RL I expect to see tomorrow to begin with
The futs are flat as I finish this and makes me laugh when I saw the hype on INTC. I added a bearish spread on BIDU today as I expect the sellers to come in tomorrow after possibly an initial small pop
Good night and good drinking!
Love Anna



