Good morning!

Last Friday I felt like I was coming down with a cold and by Saturday morning it hit me really hard.  This morning I’m still really sick and due to all the coughing I have no voice.  Because of that, there will be no video attached and I will have to cancel the RWO room today.  I will, however, be around all day motoring trades and looking for new entries.  Please understand any new entries will have no video but I will put together a text version.  Sorry for the inconvenience I don’t expect ti to last long.

This morning the Dow futures are pointing to a slightly bearish open and I think it is time to watch closely for the potential of a rollover.  Let me be clear, I am not expecting a rollover but the failure to breakthrough 20K makes me want to watch closely for signs that the bears are taking over.  Let’s keep in mind that the QQQ is looking very strong so it’s not the time to run for the doors just yet.

We have a couple Fed speakers today and some bond auctions but other than that the economic calendar is quiet and pretty much remains so until Friday when we have several big reports.

The positions in BMY and MSFT are both in very good shape. With earnings approaching I will be working out plans on how we will handle this positions this week.  As you know I hold several stock positions holding modest gains a couple positions holding modest losses.  Such is the nature of a consolidating market if it could breakout I would likely have some very nice profits but if it breaks down I will need to capture some small gains and avoid letting the losers get out of hand.  As always the first and foremost thing to do is manage the positions that you are in!

There is no video attached.

Trade wisely,

Doug