Earnings rockers...

GS blow out
INTC blow out
If ya had to guess, you'd have to think there's gonna be some nice blowouts from the likes of GOOG, AAPL, etc.

Market way up afterhours on INTC earnings. GS still using $150 as STRONG resistence, even with the HUGE blowout it couldn't yet bust out of that price. The gap up tomorrow should be interesting and should set up some nice short term trades for those patient enough to pick spots.

As I've been saying for a while, this is a tough market to short for more then very short term trades here. We will crash and burn but its unlikely to happen through earnings period here, which means picking your spots should pay off mightily. I'm looking at some really nice potential Options plays for next week or two. Watch energy, Oil may get a nice bounce over the next week or two off the $60 level if it can hold here there. I suspect it will and am looking at upcoming earnings in the energy sector to play.

Not much else to talk about, the hearings on Capital Hill remain problematic longer term but give hope short term and right now this market is trading on HOPE.

As you know, to me, HOPE is a four letter word for traders, BUT that doesn't mean we can't catch some nice moves.

Watch KLAC off the open on a dip, they have an analyst meeting it appears today and should be "in play" until that comes off, and maybe after as well and might be worth a flyer early in the day off INTC and into their conference.


RULE!

Waxie

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