12/6/2006

Nothing much going on in the market, the bulls are still in full control. However, the market may start to consolidate sometime soon. The evidence is that as the sp500 hit a 6 year high, the vix indicator didn't go below 10, it actually inched a bit higher. The next signal for the vix is the 13 level and will it move higher. If it does, the market will definitely consolidate as the fear moves in. So with that said and my anticipation of a down turn, I've became a bear, and shorted kyph at 42 and uarm at 49. They are both under the water right now, but will monitor these position all week till the job number on Friday.

Longs Cost :
Short Cost:kyph 42
uarm 49

12/1/2006

Another wild down day and then it rally hard near the end, this market just wants to go up no matter the ugly ISM number. I've never seen a more resilient market then these past months. So what will December bring because Santa came in July and is still here cheering us on. Today, covered half of slb at +.35/share and the remaining at +.85/share. This stock has some major support at the 68 level, it is definitely a floor it won't go below. Then daytraded cake for a tiny +.18/share, it was a terrible entry and was lucky to scalp this small amount. Also, holding a long position on hd at 38.80 on the speculation of a buyout. Will see how it runs on Monday, and was a bit surprised the shorts didn't cover near the end to propel it above 39. It should pop around the 39.25 area on Monday for me to get out with something. Overall, a good week for my portfolio and onward to next week.


Longs Cost : hd 38.80

Short Cost: