Monday Mop-Up

Eh… Not such an exciting day. Just what we expected pre-Fed. Sitting on 5 year highs like this, just staying up here is good news. Volume was very, very low and most of the action looked like reshuffling out of last week’s winners. Oil will not go down. It was down .78 around noon and then was rescued in the afternoon and pumped all the way up to $65.50 just before the close. It settled the day at $64.32 which is just too high for a lot of companies to get comfortable with. BTU tacked on another .60 today and moved within just $1.38 of the drop zone and COP got way ahead of itself at $63.10. Gold had a big day and copper continued to rise, both heading back to January highs (copper actually higher). TXN continues to prop up the Nasdaq but the semis are “chipping in” as well! Google picked up a point on very low volume but every large buy knocked the price right up so I think we have nervous buyers testing the water by putting a toe in and quickly drawing back as it is way too hot. ===================================== I called the dead top on TOL in the comments this afternoon but it held up well anyway, the $35s finished at $1.65 (up 50%). RTLX flew up 3.4% with a strong finish at $24.80. WAG was something for everyone today, up .60, down .60 ending up .50 – the $45 calls ended flattish at .90 but proper buying patterns would have been key here! AMR never really came down enough to buy. The stock went straight up 2.5% for the day CC shot straight up as well and the $25s finished at .80 (up 33%). N had an up and down day but the volatility drove the $50s to $2 (up 13%). BHP was not so ambiguous, up all day where the May $40s ran to $1 (up 25%). AAPL cannot catch a break, every time it goes up someone sells the hell out of it… ATYT went up 2.5% today and the $15 calls moved back to an even .90 so I feel much better! BA took a hit early as Qatar cancelled an order (fallout from the port deal?) but recovered. Wed TOTDs all did well: BXP lost another 1.5%, EOP was flat and VNO lost a point on a weak finish. If the Fed is easing off, get out of these fast! FDX made a nice move and the $115 calls ran up to $1.60 (up 40%). HYTM made a power move today, up 6% to $7.25. PD was close to $78 for a while but still the $75s finished at $4.40 (up 85%) but naughty, naughty if you didn’t take some off the table while it was a double! MS continued its run with the $60s now $2.55 (up 20%). OXPS had a great day (up 3.3%) and the May $30s are now $1.45 (up 50%). BSC was the worst of our Friday financials but, if you followed instructions, then the $140s are now at $2.45 (up 20% from the day’s open at $2.05). It never ends for poor CEPH, down another 4% today! BCRX held on bravely but dove 5% today giving us $1.05 on the $17.50 puts (up 90%)! I don’t know what’s keeping RIMM aloft at this point… The $80 puts are starting to look attractive at $2.15 but this stock is manipulated more than LVS so I’m staying out.