We discussed the probability of earnings driving the markets and, so far, that seems to be the case. Earnings results will vary from day to day, so stick with the overall market trend and not the individual results. It can be hard to enter new positions during earnings season, so take note of the earnings results of any stocks in your watch lists for opportunities down the road.
The VIX didn't show much reaction in today's move lower, indicating that this is more of a reaction to specific stocks, rather than something bigger. Keep a sharp eye on your watch lists and don't be afraid to take positions after earnings results have passed.
Make sure to limit the amount of earnings plays that you take. If you are going to play an earnings event, then make sure that you take the trade with the biggest reward-to-risk advantage.
Trader trades triggered:
- Bull: 0
- Bear: 0
Have a great night,
The Maverick Trading Team
