5/4/2006

The exuberance continues to move along to the moon. The indices continues to move higher except for the naz, and the gold fever is alive and well. Something will have to give when the majority of earnings will be over in about mid month, then what will be the catalyst to drive this market higher with the crazy volatile energy on your shoulder. The oil service sector continues to be strong even though the oil per barrel has backed down, but I can sense they are slowly breaking down. I've continued to short bhi today, for a cost basis of 84.57 now. Sold all of wfmi for an average gain of +4.5/share and will look forward to shorting it when it hits 73. The big job number will be tomorrow and it might propel the market higher.

Longs Cost Unrealized g/l:
anf 59.09 +4


Shorts Cost Unrealized g/l:
slb 67.93 -3.3
bhi 84.57 -3
aapl 71 -.15