No change in plan. I would like to buy weakness toward the end of the week. Tuesday saw great earnings and forward guidance from traditional business companies that make up the Dow Jones 30. Coke, 3M, GM were all very good. After the close MSFT had very good earnings. The market though has had a negative reaction to GOOG earnings. The latter is going to weigh, because its been in its own private bull market. When it is time to add some long positions I now think we might want to look to those traditional main street stocks rather than tech. Also remember tech had good earnings last quarter but generally they did not rally much and subsequently sold off. Whether we see a great sell off in tech, I am thinking not, but I do think we may be seeing a change in market leadership for a year end rally.

So I will be looking at DIA which is the Dow Jones ETF for an options play. But not yet. I want to buy into weakness at the end of the week, if we see it. Tuesday I am sure sucked some early buyers in. They are unlikely to be rewarded in the short term. Patience. Will share a list of buy candidates to watch Thursday and Friday.

Thanks,

Joe