6/29/2005

Sold all my sgtl for a -8/share loss. This had to be done, even though it took out all my profit for June. Disappointed but I only have myself to blame for not being discipline enough to follow through to my plan. Initiate short on vlo at 78.40. I think this oil sector is over extended and is time for a profit taking. Also, long rimm at 73.66, the earnings and projections were ok. Huge drop in the after hour, but I don't know how it will play out in the long run. In the near term this stock is only pending the ntp settlement,it might touch 75 for all of us longs to get out before it goes to the upper 60's. We will see how the game plays out tomorrow. Month end tomorrow and fed watch, it should be volatile.

Trades: short vlo, long rimm
Watch: positions
Current unrealized g/l:
rimm -1.40/share
vlo -0.50/share
wtw -1.00/share
ovti -1.30/share