6/30/2005

The market continues to be slightly bearish for this whole week. Since all the news is out and 2q is over, it is earnings season time! Just one of those days the market makers of rimm read my blog and got me out at 74.91 for a +1.25/share. I was waiting for it to reach 76, but it sold off hard at the end, so I immediately dumped. Initiate short on cof at 79.65, a bit early but it will come down. This baby ran up due to takeover speculation after the bac/mbna deal. Until I hear otherwise, I'll continue to short. Also once this possible takeover candidate blows over, down it will go. My vlo is still holding up above the 80 level, even in the face of lower oil price. If it continues to hold above 80 tomorrow I'll have to cover and take my loss. As for tomorrow, there might be a bounce in store, it has happen in the past few fomc meetings.


Trades: sold rimm
Current unrealized g/l:
cof -0.35/share
vlo -0.70/share
wtw -0.50/share
ovti -1.20/share