Tuesdays Market

Mkt opened weak today and has managed to rally back to positive territory, but underneath the strength is the fact that we have two events tomorrow, either of which could move the mkt. We get CPI and the BOJ's announcement on interest rates at the completion of their meeting. Gold broke its support this morning and I want to see more strength before getting back in that one. Still own AUY, which is holding up pretty well considering the move in gold.

BBW's numbers underwhelmed the mkt today and the stock is down about 10%. I have bought some on this weakness and will buy more if it drops further. Longer term I like this one.

Bought some more WTS, which I mentioned last week in a previous post. Buy this on any weakness.

Shorted BWLD at 58. I dont know if this is the right level or not, but longer term this stock has no legs in my opinion. I will sell more at the old high above 59 if we should get there. I have waited patiently while this stock has rallied from 43 to 58 and now I have established the first leg of my short. Risk factors include the fact that I am not the only one bearish on this stock.

Bought some CMCSA today and will sell it if we take out todays low, meaning I don't have a ton of confidence in this one. Frankly, even in light of the fact that Carl Icahn gave notice last week in an SEC filing that he has cut his position in TWX by half, the stock trades better than CMCSA and the options are bid. I still own some TWX leaps and will hold those.

MWA/B, mentioned numerous times here caught a bid on Friday and is higher today. Buy this on pullbacks.

Finally, I mentioned selling 2/3 of my WCI on Friday during its last minute hurrah and I sold the rest today. I am quite bullish to this stock, but I have no position as of the moment. I am betting it trades lower before it goes higher. Risky play. Watch this one and buy it if it dips by a couple percent.

Be careful as the mkt could be volatile over the next 48 hours.