…this makes it just a little…or maybe alot…more difficult for companies to rally significantly THROUGH earnings seson.  it's something to keep in mind as we are setting up for JPM and GOOG to report tomorrow.

what are we doing?  trimming off some of our long bucket 3 inventory in CSCO and feeding it to the ducks.  hey, if they want it this badly we are happy to sell them some up here.  we are happy to buy again a little lower.

while today's silly short squeeze rally can continue we a) don't feel comfortable adding longs up here and b)expect a pull back soon.

so, JPM rallied 18% off last week's lows and right in front of tomorrow's earnings report.  what do you think that does to the odds of a little pullback in price as earnings are read?

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