2/21/2006

After the long weekend, the market took a small consolidation. The market continues to be resilient in the face of higher oil price from the unrest in Nigeria, Venezuelan Prez. Hugo Chavez stirring trouble with threat of oil disruption, and the the Fed not quite finish raising rates. With all these news, the market didn't tank like before which convinced me there is still strength. So the 64K question is, what is the market waiting for to propel it further? Today, sold half of my dvn for +1.4/share when all the oils ran up in the morning. Just can not figure out why the oils retreated after all the the bearish news over the weekend. Well, let see how the market react to tomorrow's cpi number.

Longs unrealized g/l:
dvn +.50/share
sun +.20/share
wfmi -3/share
nbr +1/share

Shorts unrealized g/l:
aapl -2.4/share