11/16/2005

PPI, CPI, and the oil inventory can't drive this market higher. So how about tomorrow's housing starts and Friday's expiration? This market definitely wants to move up higher but when is the question. Today, sold bcsi in the morning for +1.25/share a quick pick and dump, covered rimm for +1/share, and covered sun for ---.40/share right after the high oil inventory. In the afternoon, started to short the natural gas: br 69.85 and dvn 58.25 because the oil inventory numbers showed a high distillate number. So high distillate should transform into a high gas inventory for tomorrow. Also, went long on ice, the natural gas/oil exchange ipo today. This ipo was very similar to bot's ipo ( closed near the low of the day, but rally big for 3 straight days after that). The thing about ipo is that I have no technical to follow, so it can go both ways very quickly. I'll see how aapl move tomorrow and I'll hang my head and cover the rest of it.

Longs Current unrealized g/l:
vrsn -.10/share
ice +.40/share

Shorts Current unrealized g/l:
br -0.05/share
dvn -0.75/share
aapl -10/share
wfmi +.20/share