Monday, June 9, 2008

Oh Well... USO... No surprises this time

Profit taking... In the biggest way. And i must say that is the only thing that bums me out about the whole deal. Had i even known about the think spiking on Friday. I would have sold in a heart beat. But as it is, that was a whole lot better than being -%50 in the loss column. i especially wished i could have cashed out my June120call. July has some time on its side.

For the time being, Oil/barrel actually is over $135 as i type this. So, where it goes from here? Not sure. But the momentum is towards the upside. There are some oil related reports this thursday/friday.

As for iPhone 3G i didnt expect anything out of the ordinary. A coleague asked if i would take call position on AAPL today based on WWDC, but i was hesistant to say anything definite. The true test is how it will sell on July 11. But as i said before, this stock is poison until it finds a solid base ABOVE 200.

And one other position to mention is LEH. it reported a bit early... but it may be a good LONG Put/or LEAP Put. If it is anywhere near as much trouble as BSC, the reward will be great....

Lakers 0-2. No surprise there either. I may be a Laker follower, but versus the 1980ʻs i DONT hate this Celtic team. There are some class acts. I just hope the Lakers can make it a series.

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