Oil...Channel...

If you bought at the close yesterday and proceeded to put a sell order today... congrats to you... USO is stuck for now to this 108 to 113 channel. This may be consolidating towards some sort of spike (June 18 specifically). I am no longer putting anything in as my lame June120call still sits. I am glad I cashed out the July97call last week.



I was so tempted to jump into USO when it dipped at my supposed entry today <109. But I went with Gio on this one... Other ETFs have been getting some love. And why risk doing calls in july when i can move them 3 to 4 months away... That being the case i went with DBA Oct40call & HK Sep40call. Why stress with the time decay... whew... They both like oil going up while not getting stuck like USO.

In regards to LEH/ADBE... I didnt put much $ into them, but my feeling was that BSC didnt go down right away, but a few days after earnings. As for ADBE it has til July to get smashed so i am not too concerned about 5 calls costing me $35.

All those that shorted AAPL on the skinny Steve are just plain hilarious... if your entry was 170 today you are golden.