Here's the news I promised earlier-both of them. First, MSFT I said I'd tell you something about that, throw AAPL on there as well. I believe that the market is not as down on them as they appear. I think they loosen the grip of death on AAPL and MSFT today and let the Q's rise and shortly. XLF/Dow and S&P are not as clear to me. They look like there is some short term pull back in there. Does it come after the start of the Q's move, does it come with the start of the Q's move (rotation)? I don't know. I see some sort of correction in there in the short run on 3C and then it's back to strength. The longer term picture is that of a strong position has been accumulated, but short term there's been distribution. We'll see. I've got Q $46 calls and XLF $20 Puts.
Tuesday, July 22, 2008
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