We are just tipping off earnings season and already I've gotten burned. According to Earnings.com IBM was due to report Thursday after the bell. Well, to my surprise, they announced this morning and I'm getting run over by the strength in the name (which I come into the week short). Not happy.
The upside is that we are looking to bounce again, which I did expect. As a result I will not be looking to initiate new positions into this strength today. Ideally we can carry this bounce through the bulk of this week's trading and I can get more aggressive on the short side towards week's end.
Good luck out there.
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