More Apple Pain and Higher Rates

• If you are day trading with options, I always recommend closing out your positions by the end of the day because when the market is closed you are stuck with what ever news or sentiment is rolling into the next day. Apple opened slightly down and fell like a rock within a few minutes. Trailing stops are important to lock in your gains and reduce your losses. When you are down by .50, get out and don't buy more.
• Yesterday the banks were up for most of the day while most things were not. Today they opened higher and fell without upward movement. Yesterday interest were up and was believed to be fueling the bank rally, but today the 10 Year Treasury Note hit 2.95% for the first time in a long time and the banks did not raise up. (JPM reference)
• Google experienced more positive ratings and it opened down, but came up sharply to 1094 before falling 20 points, coming up 10 and going back down for the afternoon. I would have expected it to rise more throughout the day along with Amazon since they report earnings next week and everything that we have heard so far is positive. I mention this because Google options may be expensive, but they move and when utilizing Scholastic indicator you should be able to time when to buy/sell a call or put option. There is good movement but not over priced options with ridiculous movement of Amazon. 
• Political news rattled the markets this morning with the Democratic Party looking to sue Trump's party along with Russia intelligence over the last presidential election. I would call this a sneeze when something political happens and the market as a whole moves down sharply. 
• Given that today was the third day in a row where the market was down, I would expect the stock market to open higher at open on Monday. Look for a pull back by 10:30am as an entry point. I am sure we will hear something about Apple demand being good and they are diversifying away from past suppliers to avoid tariff issues moving forward. Apple has bounced off this level a few times over the past couple of months.