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14-Jan-10
JP MORGAN AND TECHNOLOGY: IN THE CROSSHAIRS GOLD EDITION 01/15/10
Thursday, January 15, 2010
ENTANGLING TERRAIN
JP MORGAN
Me thinks tomorrow will be interesting. It is options expiration Friday, the market is certainly not wanting to let up on its bullish run for any longer than an afternoon or a day at best, and the first of the big financial stocks is set to release earnings. Not that one earnings report could really matter but if there is a big surprise one way or the other, look for the market to react, at least at the open. The market needs the financials for a sustained rally. Could this report propel it further or knock it down? We will soon see. Our current plays are working well but with JPM tomorrow I decided to let these continue to work and not risk anymore money right now. Just as AA hurt the market the first of the week, JPM could do the same as we round out the week. If the market moves higher then our plays will continue to work. If not, we could be bruised but not battered.
TECHNOLOGY
INTEL reports after the close today and could impact the early morning action in the tech sector. Technology has been a little limp lately with the likes of AAPL, GOOG, AMZN, and others, but IBM continues to propel higher as it’s earnings are in three days. It will be interesting to see what happens tomorrow if INTEL has any surprises up its sleeves after the close. Will IBM sell off or will AAPL, GOOG, AMZN surge higher on the back of a bullishly interpreted report? Several of my tech stocks look to be setting up for earnings runs and if the tech sector can find some wind beneath its sails then we will have the wind behind some trades.
BATTLES WON (PROFIT TARGETS HIT):NONE
BATTLES LOST (LOSS TARGETS HIT): NONE
SURRENDERED (TRAILING STOP HIT):NONE
NO NEW ENTRIES TODAY.
Post from: The CrossHairs TraderJP MORGAN AND TECHNOLOGY: IN THE CROSSHAIRS GOLD EDITION 01/15/10
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