A Green Day

The May portfolio had its first up day ever. After being down every day for like a week this was a nice break. The market was anticipating good earnings for Ebay, and apparently Ebay delivered. TWX is slightly in the money now. I will waitat least for TWX's earnings on May 4th before closing that position. GS is within a day or 2 of going into the money. Unfortunately since GS and UNH have both allready released their earnings (and they were good), I have no catalyst up ahead to turn these stocks around. These two will only stop selling off once the broad market stops going down.

I took on a few small long option positions based off of some "earning surprises" picks from the option guy on Realmoney.com. I'm starting to feel a little uncomfortable with the amount of capital I have at risk, considering these are all out of the money long option positions. There is a very high likelyhood that some or all of them could be near total lossses. I'm going to look to sell off my QQQQ long option position soon. I bought it in case of a quick bounce back, and we haven't gotten it. I will look to sell it soon, maybe tomorrow.