5/22/2006

Well fear is still in the house and we did try to expel it near the end, but it was just too strong and not enough buyers. To me the naz is over sold, while the s&p500 and dow is just at neutral even after all the down turn from last week. This is what worries me, because as the dow/s&p continues to move toward the over sold level, it will drag the naz even further into over over sold levels. Without any data until Wed (durable goods), Thurs (gdp), and Fri(sentiment,personal spending) it should be another down day tomorrow. I'm continuing to buy the oils on these dips, today I bought tso and vlo to average down to 64.83 and 60.25, respectively. Last Friday, bought joyg at 50.60, adsk after their earnings at 38.05, average down on rimm to 69.90, and average down on ebay to 31.30. I've made a grave mistake of buying on option expiration, I should have just waited until today to buy. Will just watch the market and buy more of the oils if it heads lower this week.

Longs Cost Unrealized g/l:

ebay 31.30 -1.5
expe 14.99 -1.15
mrvl 50.7 +2.3
rimm 69.90 -4.25
vlo 60.25 -3.25
tso 64.83 -1.80
sun 69.88 -3.70
adsk 38.05 -1.25
joyg 50.60 +.30