quick morning update. got to the office and the ES is down 14 points. tanked because of GE earnings.
GE Profit Declines, Misses Estimates, as Credit Freeze Forces Writedowns General Electric Co. reported its first decline in quarterly profit since 2003, missing analyst estimates with a 12 percent drop in earnings as a freeze-up in credit markets blocked asset sales and forced it to write down the value of investments.
covered 2 ES shorts. currently up about $3770 for the day. waiting for consumer sentiment to come out @ 10am. i think it'll drop more from there. 80% of the US economy is driven by consumer spending.
also forgot to note yesterday: i sold -5 naked call options on Sears (SHLD) for $1.80
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