Alphabet’s $GOOGL marvelous earnings report was filled with one-time items like tax cuts. The inclusion of Uber revenue distorted EPS. With all the good news more than priced in, $GOOG stock fell because it was underwhelming. If $GOOG $GOOGL cannot hold up, then Facebook $FB will have a tough time rallying after the ER. In the resources sector, Freeport-McMoRan $FCX could not have missed results more. Profits and revenue did not meet expectations. Fundamentals are getting better. FCX is cutting debt and the cleaner balance sheet will pay off for long-time shareholders. Cliffs $CLF is holding on – barely – as cyclical upside peaks. In the aerospace sector, Lockheed $LMT and Boeing $BA sold off on “sell the news.” Solid companies. Buy the dip. The Qualcomm $QCOM NXP Semi $NXPI deal looks weak. QCOM reached this group’s $50 PT. It could fall further. Beware. $NXPI looks like an easy money play on the QCOM buyout. But $RAD and $AKRX are easy money plays that did not work out. Market crash of 2018 underway? 2% drops count as big corrections now since option trades lose 100% on even the smallest drops. Buy puts in $SPY? Or go long? Are you bullish or bearish? Comment below. Semiconductor stocks are still dropping. Micron $MU is well-below the $50 support. Applied Materials $AMAT is taking the ride down, too. Lam Research's solid quarter $LRCX is getting ignored by markets.