For Tuesday : Trade Idea

This is just a heads up for tomorrow. I just spotted SCHW is having earnings in 2 weeks. I might buy some $17.50 April calls to play into earnings.

After Market

After market the first DOW stock to report AA (Alcoa) disappointed. I wont put much weight on this as Alcoa have been reporting weak earnings for a couple of quarters. Today already we were up 100 point then to only finish even I am still looking for the bulls to take us higher as today volume was weak.
Tomorrow if we open down I will be buying the gap down. I will be looking at the strong strong like AAPL, GS, CSX and RIMM. I have a strong feeling this week we will get a good playable day to rack up alot of profits.
Upside numbers to watch for are 2448 on the NASDAQ and 1415 on the S&P.

BORING day

Wow what a boring day. seem like the commodities stocks are losing steam and I wouldn't be surprised if many of them report not so stellar earnings. Today FNM fell and I think this has major downside to come. I did pick up some QQQQ $45 puts at 48 cents as a small play to see what happens. I still think the market could trend higher but after 2 big days last week we might be due for a restful pulback.
Keep it light I think we will expand this week and the market will tip its hands..

FNM down-

Only winners here .....

This week

Although this week I am looking for some upward bias as we approach earnings season, we should still be cautious as we are overbought here in the short term.
Above resistance on the Nasdaq is 2448, S &P is 1415 and the Russell is 744. These level would make very high probability shorts on the overbought charts.
Watch for continued strength in the brokers and solars.

Good luck this week