Updates For Tuesday October 18, 2011 – Earnings Reports

The sellers were back on Wall Street Monday with Dow off -2.13%, the
Nasdaq-1.98% and the S&P 500 -1.94%. Despite Googles great earnings last week,
the market is still fearful of any news out of Europe. Asia took a hit Monday
night and Europe is down as I write. Futures of the Dow and S&P 500 are off
slightly on slower economic growth in the 3rd quarter for China but the Nasdaq
100 futures are bucking the trend on a batch of earnings reports from major
American corporations including tech giant Apple. Companies to report Tuesday
morning include Bank of America (BAC), Goldman Sachs (GS), drug maker Johnson &
Johnson (JNJ), and beverage giant Cocal-Cola (KO). Its quite possible that Apple
leads tech stocks higher today, especially considering Yahoo (YHOO) and Intel
(INTC) are due to release results after the market closes. Economic data Tuesday
includes September producer prices at 8:30 a.m. EDT followed by NAHB Housing
Market Index for October at 10 a.m. EDT. Then at 1:15 p.m. EDT Ben Bernanke will
give a speech in Boston that could impact the market. Yesterdays drop combined
with all these variables is why you didnt receive a swing trade alert from me
Monday. I like to have a good feel for the market when I swing trade and right
now its hard to do that. Primarily because were just below the top of the
channel weve been trading in and yesterdays pullback either marks the start of
another bear run to the bottom or some healthy consolidation after running up
for almost 10 straight days. If I find anything I like over the next few days,
Ill be sure to text and email you right away. Currently the portfolio is empty
with no open swing trades. Here is a video I did this morning illustrating how
to swing trade this channel .