6/22/2005

Another mixed slow day in the market, but at least the bulls are back compare to Mon and Tues. The oil inventory numbers made the oil price go down, but majority of the oil stocks were up, which gave me an opportunity to dump all my vlo for a great +18/share. I'll monitor vlo and tso, the two refinery for a short position in the coming week. It might go and hit 52 week highs, but I'm thinking these stock has run its course and time for a pull back. Also, today I initiate a short on rimm at 77.75, this time I was much more patience then the first time I shorted it. Even though there is positive news from the patent office on it in the after hour, I'll continue to short if it moves above 80.75. This ntp and rimm deal will take on forever, until the final settlements are hammer out. Until I see the word "settlement" or "court ruling", I'll continue to short as it goes higher. Also, earning come out next Wed and if it runs any further, it will be a sell on any kind of news trade.

Trades: sold vlo
Watch: positions
Current unrealized g/l:
sgtl -4.90/share
rimm -.60/share
wtw -1/share