A Little Bit of Market Churn #SassyMusings 4/23/14

• FB reported great earnings, but so far fairly muted response. It’s early.
• Do people really play ZNGA games still? I guess so.
• GILD had amazing earnings and only closed up 1.4%. So you could make the argument that the bull market is over. However, I would keep an open mind and say maybe the bull market is maturing. Same with FB. If the reaction stays muted then again we could deem the bull market over or maybe just the insane bull market in momo names is over.
• Is anyone really surprised that we closed down after a monster 6 day run? You can barely see today on a chart, but we had an inside day and we are still above the box.
• Finacials did well today and it’s hard to get very bearish when finacials outperform. 
• Food for though: We have a ton of economic news coming out in the next two weeks. I don’t trade off of them, but I do pay attention to them. Expectations are pretty low for any economic pick up so if there is a good news in the economy and inflation dips a bit, it could really shift these markets.
• The way my subscribers and I have been navigating the chop is by staying diversified even within short term trades. Last year it was easy to stay long momo or the sector in the spotlight, but this year not so much. So we have a little bit of momo, energy, utilities. It’s working cause when one goes we take it off and then replace it later with something oversold. Today the safer stocks outperformed. I’m thinking this type of trading will be the way to navigate the markets in 2014. If so I am ready for it.
• Chart of the day: you have probably seen it, but in case you haven’t. 
• Tweet of the day: funny cause so true. I stopped trading earnings on AAPL last year. 

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