What’s going to hit the fan

Tomorrow morning will be the time. I’m either going to win or lose on the river tomorrow morning when earnings are announced. It’s sort of exciting and sort of not. I think that if I only had the money in my account left to my name, it would be more exciting. With most days the Chitty stock goes in the general direction of the market, with earnings though it’s not going to matter that GOOG made another $3 trillions dollars this quarter.

Tomorrow morning I will be coming into work late. I’m going to stay home in the morning hours and take care of some things, including the excitement or sadness that comes from the earnings release. I don’t see how it could be good.. it’s Chitty!

Sometimes there are bullish or bearish sentiment that traders might look at in regards to help determine the direction of a stock. I like the theories of the trend is your friend and of course the majority of the market usually determines the direction of a stock. In this case, I’m hoping the majority of the market will be shorting C tomorrow when they announce a quarterly loss of $3.25 a share (that’s just a random written number and not based on any fact checking or calculation).

The trend will not likely be in my favor tomorrow, with GOOG coming out with pretty damn stellar numbers. COF didn’t make anyone happy. AMD reported a not-as-bad-as-it-could-have-been number. A number of other companies announced earnings as well. Nothing much exciting from my current standpoint.

Here’s an interesting look at the C Apr08 option chain for today, it looks like a lot of people are betting on a drop in C (put to call ratio of 1.95:1). Of course, this is all just talk until tomorrow’s numbers and action.

Whatever your position, I hope that you do well. Unless you are long Chitty. Maybe I should just start following Sanglucci who did the best today in the VO.

End of day positions:

End of day balance: