The Larger Story Lurks in the Shadow of Apple

Tomorrow we are getting some earnings reports out of some very important homebuilders. As you know, I’ve made MHO my top position, so this is a big deal for me. The sector has been under fire for months, due to higher rates caused by “taper fever.” Without a doubt, the housing sector is the most polarized industry in America. The bears cling to it, as their last great hope. The bulls point to it as something the bears keep getting raped on.

I believe the numbers are going to be better than people think. In recent months the mood has been dour and the numbers tepid. Anything that points to an improving housing market will light a fire under these stocks, sending them, well on their way, to new highs.

Today is all about Apple and how the people have spoken, in regard to who has the best phone out right now. Samsung is on the ropes and Apple has the momo, once again.

Two of my longer term option strategies has been long Apple and IYR calls. I’ve had these positions for months now and feel they are still great positions to keep.

Following Friday’s drubbing, it’s very important that the market bounce today, otherwise the market can and will get very ugly.