Monday, May 5, 2008

Monday Morning

So the Fed is gonna be bailing out the student loan market, and we wonder why treauries are tanking. You think the globe is starting to question our ability to pay back our debts at some point.

You really want to trade this market on the basis of Fridays employment report. Jobs created in the finance sector, strains credibility no?

Is it me or is the volume for this rally leaving something to be desired. Or am I just the boy who cried wolf once too often and is now irrlevant and ignored.

Housekeeping notes, I was stopped out of the following positions:

1 unit long SKF at $89.90 as it gapped down for a little over a 9pt losson 1 unit. Filled close to the low of the day and maybe this move down, aahhh such is trading.

2 units long SDS at $54.95 as it gapped down as well for a little over 3 pts loss on 2 units.

2 units short of DRI at $37.28 as it gapped higher as well for a loss of just shy of 3 pts on 2 units.

Good Speculating to you all.

Open Positions:
Long 6 units Currencyshares Japanese Yen ticker FXY @ $88.55 stop at $91.40
Long 1 unit Allis-Chalmers ticker ALY @ $14.45 stop at $12.64
Long 1 unit Ultrahort Real Estate ticker SRS @ $84.15 stop at $77.64
Long 2 units Ultrashort MSCI ticker EFU @ $76.25 stop at $71.72
Short 2 units Daimler AG ticker DAI @ $86.20 stops at $82.48/$81.38
Short 1 unit Brinker Int'al ticker EAT @ $21.25 stop at $24.14
Short 1 unit Retail Holders ticker RTH @ $97.95 stop at $100.44

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