Editors Note:

The S&P closed almost perfectly flat on the slowest volume day of the year at 6.02 billion shares. Everyone is waiting for the next shoe to drop. I don't exactly know which shoe they are waiting on but there is very little buying interest and very low volume. The A/D line was 3597:3956 advancers to decliners so a slight edge to the decliners but basically dead even.

The first three of the big banks report earnings on Friday to kick off the Q1 earnings cycle. I don't know why investors are scared of these earnings because JPM, WFC and PNC are hardly representative of the market. It could be investors are just worried about the Q1 earnings cycle in general with the -2.5% expected decline and worsening. There is no reason to buy today and the market action clearly proved that.

Current Portfolio

Stop Loss Updates

Check the graphic below for any new stop losses in bright yellow. We need to always be prepared for an unexpected decline.

Profit Targets

Check the graphic below for any profit stops in green. We need to always be prepared for a profit exit at resistance.

Current Position Changes

FIVE - Five Below
The long call position was entered at the open.

Full updates on all plays on Wednesday and Saturday. Only closed plays are updated on other days.

BULLISH Play Updates

No Updates to Current Positions

BEARISH Play Updates

No Current Puts