General Electric reported lower than expected earnings and have revised their outlook going forward. GE shares are currently trading down over 11% pre-market.
With this news the markets are starting the day with a downside bias. The futures are showing a negative start this morning and the Q's are currently trading down over 1%.
S&P 500 (JUN) -14.25
| Nasdaq (JUN) -20.50 | Dow (JUN) -124
I returned from my meeting yesterday about 5 minutes before the close of the market. The $45.75 level on the Q's were still showing a strong resistance point and I tried to get into some puts at the close. The order never filled, so I don't get a chance to play this move.
We should gap down this morning and we may float up to fill that gap in the first couple of hours of trading today. If that happens then I will probably get short for another ride down to the mid $44 level.
With this news the markets are starting the day with a downside bias. The futures are showing a negative start this morning and the Q's are currently trading down over 1%.
S&P 500 (JUN) -14.25
| Nasdaq (JUN) -20.50 | Dow (JUN) -124 I returned from my meeting yesterday about 5 minutes before the close of the market. The $45.75 level on the Q's were still showing a strong resistance point and I tried to get into some puts at the close. The order never filled, so I don't get a chance to play this move.
We should gap down this morning and we may float up to fill that gap in the first couple of hours of trading today. If that happens then I will probably get short for another ride down to the mid $44 level.
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