6/23/2006

Another non-eventful week for the market. This is the second straight week of flat return for the market, everyone is just waiting for Uncle Ben. Today since the merger in energy propel the refineries up, I took the opportunity to start my short on these babes. Shorted tso at 68.15 and vlo at 62.20, just small positions to test the water. I just don't understand why sun didn't moved with the other refineries, which gave me some uneasiness about it in the short run. Next week should be volatile, with month end window dressing and rimm earnings announcement, I'm getting ready for the rally. This will how I play next week, as the market rally on Thur and Fri, I'll start to unload and build my cash position for the 2q earnings.


Longs Cost Unrealized g/l:

peix 20.05 +2.5
gld 56.71 +1.30
rimm 68.7 -3
sun 67.31 -3.4
adsk 35.8 -1
isrg 108 -1

Short Cost Unrealized g/l:
vlo 62.20
tso 68.15