5/8/2006

Mixed day even though the oil dropped. This market continues to be resilience and I just don't get it. This week the waiting will be on the fomc meeting on Wednesday, but after that what else is there to move the market. Ninety percent of earnings will be out by the end of next week, then the dull bear will appear. Today, was not impressed how bhi came back even in the face of lower oil price. But, I'm ready to short more if it touches 90. I know the oil sector's run up is very close to topping and will start to erode. Bought ebay on Friday at 32.20, it continues to dropped today, but I'm ready to buy more at 30. This stock is amazingly cheap, with no debt, and great investment in skpe and paypal. This week, I'll just wait like everyone else on the fomc and the oil inventory( which will show a build again on gasoline and crude).


Longs Cost Unrealized g/l:
anf 59.09 +6
ebay 32.20 -1

Shorts Cost Unrealized g/l:
slb 67.93 -3
bhi 84.57 -3.30
aapl 71 -.90