What? Two days in a row? Something must be broken. It is options week, and the monthly playbook would suggest that this would be a positive week. However, there seems to be so much in the air these days pulling the market's strings that what seems to work in normal trending or range-bound markets has been thrown out the window.
I remain 100% long. Fortunately, in the things that are working the best. I may rotate into a few other leading names, but staying long. Despite the constant drumbeat of gloom in the headlines, I believe the economy continues to grow and that earnings will continue to advance. Yes, it'd be nicer if growth were stronger. And lower energy prices would help put more money in consumer pockets.
Of course, this could just be yet another head fake rally to crush the bulls and allow the bears to reload on their shorts. Imagine if there is a major earnings blow up hear in earnings season.
WAIT - AFTER HOURS CHECK...
Uh oh, Microsoft down over 5% afterhours. Google down almost 8%. Ouch. Okay, there it is then. LOL, speak of the Devil!
Looks like tomorrow may be ugly then. Nevermind all that other stuff I wrote. Hahah. Ah, it all feels like a bunch of nonsense at this point anyways. All hope is lost.