Thursday, June 26, 2008

Market Recap 06/25/08

---------- Foreword ----------

So, I really don't feel like writing much today. Today is basically like reading this week's posts; "New [Old] Crisis Threatens Healthy Banks", "I can't imagine what would lift the dollar, so I say we fall through 73 if we don't get news out of the fed soon.", "I'm guessing it will take that dollar drop I'm looking for to set gold in motion.", "USO (oil futures) have been building a base around $110....the futures guys, just aren't spooked....but if support doesn't deteriorate tomorrow, I'd get long."

As for me...I only trade macros, funds, indicies, etc. For those of you who feel that applying macros to individual equities is a good move...I hope you made some good moves. :D

---------- Important Crap ----------

You just read it. We'll have some great analysis and feedback tomorrow. Come on...after today...I promise!

Oh...Energy sold off hard today despite a rally in oil. So...wait...oil went up and the alternatives went down? So watch for big upside in energy perhaps tomorrow or first thing next week.

---------- Random Crap ----------

Uh...I've been making more trading than working...I'm thinking of going pro. I decided to buy a plane ticket home to Indiana for the 4th - you're allowed to have fireworks there - then look into taking the series 65 before school starts again in the fall.

Oh yeah...
SOLD - SPY 138 CALLS -20% (no apologies this was the hedge)
SOLD - SPY 126 PUTS +36%
BOUGHT - SPY 135 CALLS (What? They were on sale...and you know we're going back to S&P 1300 b/c of the non believers)
SOLD - USO 109 CALLS +~30% (could have been 60%, but let's not be piggy.)


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