3% 10 Year Treasury Note + Cat Forecast

• Caterpillar (CAT) earnings report beat forecast and was up but started to fade after the market opened today. The CEO projected their first quarter earnings being the high water mark for the year. From there the market as a whole took off to the downside. From CNBC Fast Money show they said that this was expected as their business is a cyclical business. Around the same time the 10 Year Treasury Note broke through 3% for the first time in a long time. Buying Put Options on almost anything were a great buy at this point.
• Verizon (VZ) peaked within the first few minutes of the market open and dropped quickly, but did not go negative. It ran up further, but didn't break that early morning high before falling with the rest of the market. I believe this will continue higher over the next couple of days along with the rest of the market as interest rates ease. Due to the low volatility of Verizon, I would not recommend buying options on them until their next earnings report.
• FAANG pain began. Facebook, Amazon, Apple, Netflix and Google dropped hard for the whole day. There were a couple of times it appeared they were going up, but they were just retracing their downward movement as they came down so quickly. Netflix bond offering was not discussed by most analyst as it was expected due to their high cost of producing content. Alphabet (GOOGL) numbers were huge and growing tremendously, but due to their increasing cost it was sold off today along with the rest of FAANG.
• There was news about Facebook (FB) user information being stolen and this may be the next shoe to drop that pushed Facebook back to its lows for the year. They release earnings Wednesday after the market close. I would be a momentum buyer of options on Thursday if it makes sense. Apple (AAPL) reports earnings next week but more weak iPhone sales are expected and the stock price continued lower. I am a buyer if the price drops to the low for the year around $152. I feel weakness in either of these means positive for Google as advertisers may leave Facebook and Google is the only other game worth dealing with.
• JP Morgan (JPM)  and other bank stocks moved sharply up within the first half hour of the market open before tumbling down below yesterday's low. They moved up to end the day and I would expect them to continue to move the same way over the next few days.