5/10/2006

Well well well , the fed has spoken and the oil inventory was released and the market turns flat. It might run up tomorrow and the oil should retreat with the bearish gasoline numbers. It only ran up today because demand was much higher this week than the past 3 week reported by the EIA. But, duh one week growth in demand doesn't mean a trend , so I shorted more of slb to a cost of 68.74. I'm starting to look at the semiconductor for opportunity, they have dropped significantly and deserve a look. Stocks such as klac, mxim, and mrvl are prime for picking and have a great balance sheet.

Longs Cost Unrealized g/l:
anf 59.09 +5
ebay 32.20 +.30

Shorts Cost Unrealized g/l:
slb 68.74 -4.25
bhi 84.57 -2.5
aapl 71 +.40