Wednesday, June 25, 2008

Well Here We Go Bought USO call/DIA put and sold DBA

A perfect storm may not be brewing but it is a weird position to enter. I bought the following with a time stamp for my ref in relation to the FED 2:15.
USO Aug110call (1:40 pm EST) wish i bought it when it touched 106+
DIA Sept118put (1:59 pm EST) not enough trading with SDS calls.

As expected no rate change planned. the minute charts are these straight vertical lines that almost cover the whole chart in a couple cases, volatile for sure. But we are still left with the question... Now what?

btw, i dont have enough capital for RIMM I will watch everyone else have fun with that. i wouldnt be surprised if it went either way. iPhone wont have its full affect til next year at the earliest on RIMM thx to that dumb AT&T deal. Apple missed out on T-mobile & Alcatal customers. Anyway, they still wouldnt have gotten Verizon & Sprint with their different type of frequencies. The US is dumb when it comes to mobile carriers. RIMM has done an awesome job covering EVERY carrier possible in the US.

I Sold DBA (@2:11 pm EST too early yes...) but i couldnt help but see POT/MON/IPI/AGU, etc all taking hits today and not believe it would eventually catch up with DBA. so took a small loss... with the thought of using it next week...

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