5/17/2006

Knock, knock..who's there....fear . Not all the way in yet, but knocking at the door. I don't like it, but I need to average down on my picks to get out before the summer doldrums hits. The oil inventory number wasn't bullish nor bearish, but the market just pulled it down with everyone else. So I added more to my longs on the oil and my techs, which has come down quite hard. Sold all of anf for +2/share after last nights earnings, don't want to hold anymore retailers in an inflation environment. I'm in a wait and see mode right now, since the market is data sensitive the downside should be limited until next week's datas (durable orders, preliminary gdp,personal income/spending) should rock the market.

Longs Cost Unrealized g/l:

ebay 31.90 -2.4
expe 14.99 -.75
mrvl 50.7 -0.4
rimm 70.60 -.50
vlo 61.66 -1.7
tso 66.11 -.50
sun 70.83 -2.6