Tuesday, April 23, 2013

Interesting preview of the market's nervous state with the response to the fake tweet.
More evidence that options are still inexpensive.  My equity exposure has gotten into the 40+% range and that is a bit high for me right now given how nervous the market is.  I believe there will be opportunities to buy some more cheaply.  I will reduce to the low 30's.  No bold moves for me here.

Obviously the elephant in the room is AAPL earnings.  I am staying put with my current position (which was downsized around this level -406 ish).  I think we could see a 25 point move either way.  I am leaning toward the upside, but who knows.

S, I am leaning towards selling the balance of my position.  DISH may be coming late to the party trying to throw a wrench in.  S may decide that it is not a legitimate bid, in which case the stock will drop to the mid 6's.  Not terrible, but I don't think the upside is too great here either.  I will probably wait until the end of the week.

The miners is an area that holds some promise with FCX being an interesting candidate.





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