Wednesday, June 11, 2008

SOLD USO!!! And bought stuff... And useless basketball blab

I ended up selling my July97call. And keeping my June120call (maybe i should have sold a little of it at a small loss). There is some oil news tomorrow that could send USO flying, but who knows... Decided to take the 30%+ profit now. It happened that my timing was pretty spot on... just before USO bumped against 112. It closed @111. Nothing to gloat about, i had a bigger profit this past Friday had i just paid attention to my account. A really bad habit. Avoiding looking at something painful will only get worse later.

Bought a meager amount of V (a bit too early), but still <80. I think it goes low to mid 70s from here.

I also got a few of ADBE June35puts@.05. I think there have been just a few reports on possible problems for ADBE going forward. But no big news yet... so, some damaging guidance may pop up... and a 10 to 12.5% pull back is more than possible...

I failed to get LEH June20put. I tried to get in @.48, but it ran off to 1.18 (bummer) while i was sleeping. May try again tomorrow as they report Monday. I am unsure whether the bad news is already priced in. Thus, I am considering SKF. But i need to see some pull back for a better entry that may not arrive.

Otherwise, the vast meager $ i have is in cash. Just trying to be patient...

That is what the Lakers need to be against the Celtics - patience. If they do win it, which would be against logic based on the series so far, it will be a huge comeback - even if they are playing at home the next 2 games. And the Media are all up on the Celtics side, that will either motivate the purple and gold, or mean they have to try again next year. Laker fans likely prefer being the underdog rather than the favorite in this setting. A sense of urgency is needed on their part... The Celtics have always shown it... they already experienced enough of it in the East post season.

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