Heading Into Tuesday

The trading environment has remained very volatile and near impossible to build any long term positions. I have used that volatility to trade around a few positions to lower my cost basis. I am surprised we still haven't gotten any follow through off of Thursday. We have good news from some tech companies this morning, HPQ has beat EPS and increased guidance for next year. We haven't heard positive news like this out of a major US company in a long time. If we don't get some sort of rally out of this I'm thinking we are set for another test of the lows and will be cutting alot of my positions. PRGN and EXM are a couple I am thinking of cutting first, both still trading right at my cost basis. There was some bearish news for the shippers out yesterday that stated many shippers do not have contracts locked in past three months. Historically, bulk shippers had contracts locked in more than a year ahead of time. This is especially negative since the collapse of dry bulk rates from all time highs to multi-year lows over the past few months. EXM's ex-dividend date is today so be aware of that.