Three earnings reports coming this week, around Wednesday. Here are my strategies for each:
* CAL. Up strongly today and I don't want to buy into this rally here. If AMR and LUV report disappointing earnings tomorrow, I think CAL will get hit and present a buying opportunity. If not, I am comfortable letting this one go. I am not interested in chasing.
* MER. Merrill is poised to post a strong number here and I am buying weakness. I opened a position today and will build it tomorrow if it is still soft.
* AAPL. Opened a position on Friday that is solidly in the money today. I will add some more if there is weakness tomorrow, expecting a blowout quarter.
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