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I’m writing this from deep in the bowels of Pennsylvania (Philly actually), as our stay lasted longer than we thought. I am writing while in transit and although I am a decent multi-tasker, I’m not driving as I type. Anyway we were away for the weekend and I will get you a full video tomorrow night.
In the meantime, let’s keep an eye on earnings as they kick in full throttle this week. I think the JPM number went a long way in lifting uncertainty off the tape. As you know the financials had a ferocious rally on on Friday.
I am still going to focus on coal and energy and although the coals have retraced some of their gains, they still look OK with the exception of WLT which as you know stopped. I added ANR tonight as long tonight, so keep you eye on it tomorrow.
I also like some of the miners like RIO this week and names like CLF, so also keep an eye on them.
I added some longs to the P&L tonight along with one short, so please check it out for entries and stops.
The longs tonight are: ANR, JMBA, MELI, TPLM and AMT
The short is: APEI