earnings

If the markets couldn't breakout last week, I think earnings are going to make it that much harder. Of course maybe I'm just being pessimistic and earnings next week will be stellar - in which case hold on to your hat because the market clearly wants to go high. Further, the markets, for the first time in a while, actually had a negative reaction to bad news. If you were waiting for your pullback, you got it, I would just be hesitant to load up on calls in the short-term.

Here is an article worth reading: http://www.minyanville.com/articles/index.php?a=16634