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