10/18/2006

Well it finally touched 12K, but it just couldn't sustain it during the close. Apparently, it is getting very tired at this level, with tame cpi/ppi, good earnings for large caps, and the nuclear crisis the Dow just seems to shrug everything off. It isn't excited or nervous about anything, just in some kind of apathy mode. Today, I shorted jnj at 77.11, didn't know it had that much strength to closed at 78. It should consolidate a bit, I'll I'm out. Bought bucy at 47.81, this stock is very volatile it can move up or down quick. Today's action is probably just some profit taking before Caterpillar's earnings on Friday. Also, covered all my shorts on aapl for -18/share, the earnings were great, they beat on revenue, eps, and ipod/imac sales. This is what I didn't want to hear and I'm out with a huge loss. Tomorrow, I'll watch sndk and goog for the earnings announcing play.

Longs Cost Unrealized g/l:

uso 65.70
bucy 47.81

Short Cost Unrealized g/l:

jnj 77.11