Indexes are hugging support; on to options expiration


The markets are going back and forth around the key support levels I monitor.   With options expiration coming on Friday, I think the best course for me is to take very small positions until the short term trend becomes evident. With most first quarter earnings announcements already out there is less major news to move individual stocks.   It is the expectation of better earnings that pushes stocks higher, but second quarter earnings will not begin to be released until April. We are in the relatively calm period between earnings releases. However, as we all know, major world events can also influence the short term course of the markets.   I remain in a gold ETF and a little short the QQQQ. The longer term   trends of the indexes I follow (SPY, DIA, QQQQ) remain up.

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