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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