1/5/2006

Mixed day in the market today after the announcement of all the NG/oil inventory numbers. The oil numbers was expected, but the NG was a build. It seems as though the weather was much warmer then anticipated. With that data, sold apc for +1.5/share and still hold onto dvn. Will see how the market react to tomorrow's job number. SNDK, this steroid stock continues to move upward on no significant earnings news, just introduction of new product in the Las Vegas's consumer electronic show. This stock is getting very over value, but it moves higher because the shorts are forced to cover. I'll continue to short all the way into earnings on Jan 25. A bit surprised that oil didn't retrace with the bearish inventory number. The smart money somehow are moving out of NG and coming back to oil, which doesn't make sense to me with the high build in inventory. However, I think they are looking it longterm that oil will be great in their portfolios. Tomorrow the job number, which will be a non event because all the jobs are holiday related.


Longs Current unrealized g/l:
dvn +2.00/share

Shorts Current unrealized g/l:
sndk -5/share
tso -.30/share