6/7/2006

The bear is still alive and well. I just don't like how the Dow is trending lower and all these talking head is saying not to worry it is just a correction. When the"expert" speaks about not worrying, that's when I get worry and start to short. Shorted and covered half my position on isrg for +2/share. Saw the inventory number and I thought it was mixed, but the market thought otherwise and dropped all the oils. Also, Iran seems to be swaying our way regarding the nuclear situation. So, with that, I started to accumulated tso at 64.80 and slb at 60.50. Just small nibble because I believe the oils will continue to drop since the Iran situation seems to be subsiding. However, all we need is one hurricane coming into the Gulf and the oils will pop like popcorn. Tomorrow, continue to look for short opportunities and buy the oils if it drops further.

Longs Cost Unrealized g/l:

expe 14.99 -.50
mrvl 50.7 -2.3
rimm 68.7 -4
sun 68.90 -3
tso 64.80 -.30
slb 60.50 -.10
adsk 36.31 -1.20
isrg 114.38 +1.38