20 October 2008 – Watching earnings…

The choppy price action is offering up some more bearish setups for us but we now have the earnings season to contend with as well. I highly recommend that positions aren’t held over the respective release so when one is due within a week it makes it a pointless exercise to put a new trade on. That said we do have one new setup for tonight which offers a few weeks window, so we’ll place the order and see what transpires.

The two short positions offset each other even though the Dow Jones had a strong night putting on 4.7%. HMY rallied 4.5% yet HUN dropped 4.1%.