Editor's Note:

Global markets were down almost across the board. The Dow Industrials was an exception. Overall investors are in a wait and see mode as Q1 earnings start to trickle in.

I am not adding any new candidates tonight. I did notice that QCOM looks like a potential short. I was tempted to launch bearish positions with a stop loss near $55.10 and a target at $50.00. Oil prices look like they could reverse. If that happens the transports could rally and oil stocks are likely to decline - at least on a short-term basis.

- James