1/11/2006

This market continues to have resilient. Whether it is new money, late money, or foreign money, it continues to move up point by point. The oil inventory was very bearish, but all the oil stock was flat at the close. I just do not get this, maybe the Iranian nuclear trouble is making all the traders want to buy on the dip. Tomorrow, lets see how the natural gas number will affect the market since the oil number didn't move it much. The market continues to move higher, which does not bode well for my shorts, until the earnings come out that is when all the truth will be reveal. It is not that these company will not beat the Q4 numbers, but will they guide higher for Q1 and beyond is the question. Until then, my capital is quite dead.

Longs Current unrealized g/l:
dvn +2/share

Shorts Current unrealized g/l:
sndk -11/share
tso -2/share