Good morning. It’s Monday so I usually will wait out the first hour of trading. I like to see how the weekend pressure unfolds itself. It’s been a moderate opening. My sector list is slowly turing greener with energy leading the pack. Might want to look at the ETF XLE for some moves. Other then that my focus right now is to see how the ym reacts to Friday’s LVA at 821. If we get in their and see some intrest we could have our 80% rule in play.
This week will be a big one in terms of earning. Keep and eye on who and when they are reporting and then how the market reacts to the news. the reactions will give us good clues as to what the market sentiment really is and if we can start to look for longer swing positions.options plays.
As I glance at the markets now I stay on the sidelines. Sectors are still showing lots of red and we have a huge gap underneath us still. Careful on the long side.
