1/6/2006

The market continues to chug higher and higher, all the indices are in multi year high mode. However, what scares me is that it is doing it in the first 4 day of the year and that is just too quick for me. Also, people pumping google all the way to $2000 is just fanning the buying frenzy. So I'm still bearish on my sndk and tso. Today continue to add to my short on tso (cost 65.60) and sndk (cost 64.82). These two stock is at or way above their 52 wk high and there is no significant news I can find to justify their high price. Even though I'm in the red big time, I just believe the common sense will come back into these two high flyer.

Longs Current unrealized g/l:
dvn +3.00/share

Shorts Current unrealized g/l:
sndk -8.4/share
tso -2.20/share