Friday, September 15, 2006

Covered all my Oil short...


Having bought back half my Oil short the other day, I took the other
£10/cent off this evening...think the price was 63.00 exactly on the
NYMEX Oct '06 contract. Will post some P+L numbers in a few days, but my
total P+L between this and the other £10/cent short was about £16,000 I
think. Sweet. Think Crude still has long-term downside on slowing demand
from a slowing global (and especially US) economy, but let's try trading
it around a bit.

Will be looking to increase my Bunds short next week also.

And my equity individual name longs are working out nicely...Cisco, IAC
Corp (Ask.com) and BT (British Telecom) al continue their upward
trajectory...am going to hold on for now, especially since I have hedged
my market risk by shorting S&P, and putting on some bearish DOW option
trades out to December.

Any thoughts of other good trades out there appreciated.

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