The weakness in crude and energy stocks is certainly not helping the cause for bulls, though the selling on the indices is nothing too scary yet.
What is more concerning, however, is the weakness in leading issues like NFLX TSLA. And we do have TWTR earnings after the bell tonight, which should be a nice appetizer in front of FB earnings tomorrow.
Beyond that, we have the Fed on Wednesday and a slew of big-time data later in the week.
Hence, today may very well be the calm before the storm.
If the XLE, energy sector ETF, loses $83 again I may very well take a shot on the short side.
Other than that, I am noting the relative strength in restaurant plays like BKW BLMN FRGI ZOES again today.
What are you checking out this afternoon?
Heavy $CASH, + small longs in $JJG, $FEYE, $GOGO, $SRS & $BREW
I really liked the look of MGM on the short side. Reinvested about 30% of a win on a previous MGM position into fresh MGM puts earlier this afternoon. Playing small in the position due to earnings this week.
the sand stocks
look into SANM beat and guide higher, up 14% in AH