fade the numbers

some quick comments on numbers we have already seen and the market reaction;
$AA hit, positive outlook, however stock fell 50bps (on residual basis).
$CSX slight beat to the Raven's expectations, down 300bps (resid).
$INTC good beat, opened up so the Raven sold his long even though the stock might have broken out, if yesterdays action is anything to go by the stock will fade into the close regardless of its earnings news.

$AMD looks ok, however the Raven imagines that most of the good read across from other results is in the stock today, so he's going to leave it alone for the moment, especially as he thinks (still needs to do some more work on it) that $AMR, $GOOG and $JPM will be more interesting.

£ITV catching a beating today, interesting commentary in the FT that they'd perhaps try and change their strategy to a pay-TV model. The Raven's still long, although has traded around the position quite a bit.

In general he's been looking to increase shorts here and has been selling off longs.