Markets are showing plenty of volatility today, with the NASDAQ sticking out like a sore thumb (up 0.6% due to MSFT and AMZN earnings), outpacing the S&P 500 and Dow which are down. Volatility that we are experiencing today is one sign of a short-term top... while again it is difficult to second guess the market given that it is being driven by liquidity. My limit order on SPY puts for the model portfolio were done yesterday, and it is our first tranche as I try to "scale in" my short exposure just to hedge some longs. Still, I don't expect any monumental collapse that the bears are calling for (I feel for them). Just how many times have shorts been slaughtered... market sell-offs haven't lasted more than 2-3 days for quite a while now.

Meanwhile, I'm taking half of my money off the table on TAM which I bought just yesterday at $14.50. Seems to be a perfect entry. Check out my previous post on how I timed the trade. It's a neat 7% gain on half of the position in less than a day.

Here are some long ideas for the day. Among them, LVS and MOS look interesting just because of the large potential upsides, but people who decide to trade them should be patient since they are still trying to break out of area patterns. Enjoy the charts!