IBM - I sold out of IBM due to its solid move, and is its trading at the high-end of my expectations for the next quarter earnings. If we are lucky to see it come down toward 170, I will purchase 170 calls on it. For now it has moved nicely, and I do not want to be greedy with it. Took my profits, and will wait for an opportunity.
AXP - Sold out this morning with the move, and its relative weakness. (That was driven by my active trader side. I will look to re-enter.) By the end of the year, I still think it will be near the mid 50s. All its businesses are doing well, except it suffers from no EPS acceleration for the next two quarters.)
AAPL - With AAPL trading below 430, there is no established expectations toward the next quarter's results. As soon as they report next quarter's results, Apple will have a trailing PE of 15.5 with a stock price of 429. There is a disconnect. Not worth selling here.
QCOM - Will sell half at mid 53-54. But will let the rest ride to 56-57. There is just way too much momentum going into the next 3-6 months.
FXE - Will like to add to the puts if FXE sees 137. I don't know if we will see it, but that is what I am looking for.