Wednesday morning

First, a reminder to myself: don’t hold RIMM put through RIMM earnings on Thursday.  OK, now onto the day’s predictions or guesses or incorrect thoughts.

MS came out saying something about an extra $5.7 billion in write-offs, with only another $1.x left after that in order to escape their write-off issues.  Ya, right!  Watch for that number to somehow get bigger by the end of next quarter.  Unfortunately the news wasn’t enough to bring down the market pre-hours.

Nothing major in announcements this morning, so it’s likely that the market will stay around even.  Yesterday’s run up wasn’t expected by me, nor was it really appreciated.  It reduced my put positions.  Not what I like.

AAPL was negative yesterday.  Up a little this morning.  I’m going to look at escaping the put positions with a profit ASAP, just so that I don’t ride a winner into a loser.

JCP decided to get rise yesterday.  Too much.  Today might be a duck-and-cover situation.  I haven’t had to take any loss on an options trade too recently, but JCP will be one of those situations.

IWM.  Still in it.  Watch for me to tuck my tail between my legs and lose a little on it.

GS should be going higher today, just to recover a little from the drop yesterday.  GS is actually an amazing company and should have gone up yesterday, but I guess beating expectations and announcing an additional $600 million in revenue isn’t enough to make GS go up.  I might consider getting a couple calls on GS today.

BIDU might be a buying opportunity.  Might be.  GOOG too.  SHLD.  Wow, I guess that I’m actually thinking that there is some good upside potential in some stocks.  Sometimes I would like to be a perma-bear instead of feeling like I can’t make up my mind.

Today I predict the market to stay pretty neutral but finish positive.

Good luck today.

Oh ya, my Forex deal is currently down $8.25, which would take a huge move to hit my stop loss with so little of a bet (just 2,500 EUR).  I’ll probably just close my position down less than $10.00 and just starve today during lunch.