Do not be surprise if the markets continue to react further to weak global cues. We had weaker than expected earnings on Friday which sent the markets down and foreign economies are also teetering.
The big the big factor is the escalating tension between Ukraine and Russia. This was the major influence in market retreat with money shifting towards defensive ends. Goal also went up on the geopolitical uncertainty.
The markets originally started stronger last week, ignoring weak global cues. Unfortunately, the week ended on a sell-off because of the weaker than expected earnings that came at weeks end.
Global cues were mixed as the Dow Jones also closed the week with marginal losses while the tech heavy Nasdaq closed lower as results from Amazon disappointed.
This is going to be a busy economic week also, and the combination for trading could be dangerous.
Usually it's China and economic calendar in the United States it causes a big rift in the market, but this time it's all the United States.
Thursday, May 1 is a international labor holiday for most of Europe and China so the markets will be open for them. So we don't have to focus on them. Nevertheless, in the United States federal chair person Janet Yellin is speaking Thursday.
That will have an influence on the markets. Friday we also have the all important nonfarm payroll report for the month of April. This will also have a big influence on the markets.
It is going to be a difficult week to figure out how to trade.
Expect consolidation in the large cap stocks to continue, however, the real out-performance has been from the broader market with stocks/sectors seeing sharp gains and which may continue till the final electoral verdict. Raising your cash levels could be the order of the next few weeks as high volatility may give a better chance of entry at lower levels.
My results for the year are posted so you can see what and when I traded weekly. https:/docs.google.com/spreadsheet/ccckey=0AjgjBJLwH3rdERid3A0RE1GRFlyaHB0S0VxbHc0Vnc&usp=drive_web#gid=0
(SLOW MONEY OPTIONS)
https://docs.google.com/spreadsheet/ccc?key=0Aj-gjBJLwH3rcjJqRndVSlBzY2hNenM4YXZQT1FBZEE&usp=drive_web#gid=0
(FAST MONEY TRADING)
You know I had some good days and some bad, some good weeks and bad. But I have a trading plan, goal and consistency in my trading and that is what I'm trying to teach you. I believe each of you can do the same thing it takes discipline. Remember me talking about trading/investing is like running a business?
 So how did we do this past week with SLOW MONEY OPTIONS? Finally had Both AAPL trades and SPY trades work . I took the more conservative approach. Remember making 3% average week is very good. I just wish I could have done as well in my Fast Money Trading this past week. As it turned out the worst week for the year.
Remember you will live to trade another day if you don't get greedy and learn to take a small loss to be right. I'm in this for the long hall and will not take undue risk.
Remember always take the more conservative spread is the reason that I give you choices. What I do is take all my recommendations just split the money between choices. You can trade just enough to give you an extra days results of trading or trade enough to give you a weeks worth of trading. The choice is yours take responsibility.
I am trading weekly options to help you grow your portfolios a little each week. We are either making money or not losing money. Thank you for letting me serve you, I consider it a privilege to work with each of you. I strive to make a successful trade one week at a time.Are you making money? If not why not trade with me. Remember the goal is to make money NOT lose money . . . Duh . . . . . . . Take a look and see how Slow Money Option Trading went
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https://docs.google.com/spreadsheet/ccc key=0AjgjBJLwH3rdERid3A0RE1GRFlyaHB0S0VxbHc0Vnc&authkey=COb7xdMJ
Remember if your not a paid up member of the Fast MoneyTradingTeam you will not get the weekly Slow Money Option recommendations. Yes, I expect to publish Wednesday,Thursday or Friday my weekly option trade to the paid up members.
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I hope you will learn from my years experience as a professional trader.