9/28/2006

Well the trend continues to be up and up it will go. The oil retreated a bit for some profit taking. Today day traded slb for +1/share, seeing how all the oil index were hitting support levels I had to short. In the after hour, rimm announced fantastic earnings, so I'll be watching tomorrow to see how it react before my major covering for a huge lost. The after hour activity was quit bizarre and frantic, with spread about 20 points. This time the train ran me over and over and over. Tomorrow the Dow might try to close out 3Q with a bang.

Longs Cost Unrealized g/l:

uso 65.70


Short Cost Unrealized g/l:
rimm 73.87
aapl 62.40

9/26/2006

Multi-year highs again on the SP500 and the Dow is only about less than 60 point from its all time high. Is it because of the high confidence number, low inflation, or low energy cost that is adding fuel for this rally? I don't know, but it wants to go up and up and I'm hurting on my short positions. Today, day traded bhi for +.95/share after it ran up in the morning, I shorted and had a decent scalp. It is weird how the xoi remain very strong throughout the day as the oil per barrel dropped. Is it a sign of a bottom for the energy sector or just running with the tech bulls. Well this week is not a great week to judge the true sentiment of the market with the ending of the 3Q it can be easily manipulated by the institutional.

Longs Cost Unrealized g/l:

uso 65.70


Short Cost Unrealized g/l:
rimm 73.87
aapl 62.40

9/22/2006

Wow what a wild and crazy past 2 weeks. We have all the indices trying to top multi year highs, the Amaranth debacle, Hugo and his cohorts blasting the US at the UN, oil/NG coming down hard, triple witching, and the Fed's no interest rate hike. First, I've sold all my vlo for a -14/share lost, which is huge but had to be done. Could have done this earlier but I just wanted more inventory numbers and the closing of the hurricane season to justify my lost. Was wrong on the oil and will wait till the oils to consolidate before going back in. Still holding to my shorts, especially anticipating rimm's earning on next Thursday. Next week should be another volatile week due to 3Q window dressing and probably the indices testing key support levels.

Longs Cost Unrealized g/l:

uso 65.70


Short Cost Unrealized g/l:
rimm 73.87
aapl 62.40

9/12/2006

It is just one of those weeks, when it rain it pours. I'm definitely in a slump with all my picks. The lower oil price is not helping my oil stocks, where is the heck are all the buyers cheering it when it was at 78/barrel? Now everyone is talking about 55-60/ barrel, and the only thing that has changed is the hurricane season as been a no show. But, we forget so easily that Iran, Venezuela, Nigeria are still there to cause trouble. I'm still bullish on the oils, but I need some upward movement before committing. Also, the tech is continue to move higher, which sucks because of my shorts on the sector. I'll have to cover rimm for a major loss, but will keep aapl. Apple's conference wasn't that spectacular, where is this ipod phone that was floating around the rumor mill. New ipods and the movie download deal will only generate a small amount of revenue. So this stock should start to slowly move downward to the upper 60's since the news are already out.


Longs Cost Unrealized g/l:
vlo 63.83
uso 65.70


Short Cost Unrealized g/l:
rimm 73.87
aapl 62.40

9/6/2006

Finally the market consolidated, the vix moved a bit higher, but will it last? It is strange that since energy prices has dropped significantly the market just kind shooked off the news. Then suddenly a jump on labor cost scared all the bulls that inflation is back. Is it showing signs of a reversal,after a great August run up? Well September historically has been an ugly month, with triple witching on next Friday and then third quarter window dressing by the institutional, it will definitely be choppy. Today, covered joyg for a -2/share, I was wrong on this stock and it just ran up further after the great earnings. I could have gotten another 1 point, but it just seesawing around the 44 level and it made me nervous, so I covered for a loss. Tomorrow's oil inventory should pull the oils up a bit, since the beating is over done.

Longs Cost Unrealized g/l:
vlo 63.83
uso 65.70


Short Cost Unrealized g/l:
rimm 73.87
aapl 62.40

9/1/2006

Well the job number was tame enough to rally the market a bit higher. Overall it was a great week if you were long, since I'm not it was a disgusting week/month. The weird thing is that the vix is almost at where it is before the selloff on May 8-9. This tells me in the coming week we either rally higher or consolidate after all the traders come back from vacation. I think the latter, and a rally in October during the 3Q earnings is more likely. The market basically has factored that the Fed will not raise rate on Sept. 20, but for their next meeting in October it is still a toss up. So September should be a bumpy ride and for me to cover my shorts, hopefully for a gain.

Longs Cost Unrealized g/l:
vlo 63.83
uso 65.70


Short Cost Unrealized g/l:
rimm 73.87
aapl 62.40
joyg 42.16