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Happy Easter & Passover to all who celebrate! Hope your holiday week last week was full of health and family love and maybe some wealth as well... Market seemingly stabilizing here, this week should be key as we have several momentum names reporting, and some more established names. NFLX leads the earnings patrol Monday after the close. I have no idea what this thing does post earnings. If GOOG is a guide they will drop, but they have sold off huge into it, so a beat and likely it squeezes higher very nicely. Im NOT interested in playing it either way Monday more than likely, just want to watch and see what happens. FB reports later in the week and were already long FB into earnings. NFLX going up would surely help FB, if it gets cracked FB could get ugly. For Option Play of the Week lets play EMC $25 Calls. They report Wednesday before the open so this is a Monday/Tuesday play. Buy the open Monday, sell the close Tuesday mor than likely and thats the plan here. Not interested in holding over earnings more than likely so dont say I didnt warn ya. As far as Stock Play of the Week. Lets take one of my stock picks for the year - CCIH long here, with a stop loss at $14.59, looking for a move back to $20s if right. Stock got total destroyed in the market selloff, with WB doing great IPO opening day thinking Chinese internets could catch a renewed bid. Right now Futures are up about $3.50 as I write this, hate to buy a gap up so if EMC or CCIH are up more than .10 cents Id wait for a pullback to that level before entering. Or, use 10 am rule for entry, meaning if they hit daily highs anytime after 10 am EST then we enter. Be patient, no need to rush! Still sticking with FB, I think it has to see $62 to $65 into earnings, but needs to break and hold $60 before it can do that and so far it hasnt been able to do so. It tried to Friday but to no avail... We should continue to see volatility here as e move through earnings season. Keep in mind, I maintain a negative market view overall, but its highly unlikely we can go down much during earnings season which is trend wise a positive time overall So, I think dips will be bought. So, dont get caught up in negative or positive this second I think you have to buy dips. Well see, more than likely we just chop up and down and then trend DOWN overall once we get through earnings season. Well see soon enough... In the meantime, well play it by ear, Ill be looking for dips to enter some earnings plays this week more than likely. I am likely staying away from stocks that have no catalysts, they are too hard to predict here so I dont want to force things... Michael WaxieParness Twitter; @realwaxie
Posted on: Mon, 21 Apr 2014 01:40:11 +0000

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