Wow, that was a great day!
Wheee! All is well I guess – 5 year highs on Dow and S&P and even the Nasdaq perked up at the end. It’s a nice low data week so if we can just get through the oil inventories tomorrow we may get our first consolidation above these highs.
I was really encouraged by the broad NYSE running up 80 points and $74.70 oil and $667 gold didn’t seem to bother anyone one bit. Exxon’s boys met with the Senators today and convinced them (surprise, surprise) not to tax them:
http://online.wsj.com/article/SB114653168829041080.html?mod=world_news_whats_news
Rates on the 30 year held at a barely bearable 5.22% but that’s still the danger signal to watch if it tops 5.30% this week.
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XOM $65s were great all day, finishing at $1 (up 100%).
After a big drop BUD went totally the other way, possibly on the belief they are taking market share from TAP. $45 puts finished below the stop at .55 (down 30%).
MOT had a great start and then died at the end of the day and the Jul $22.50s finished flat at .70 but my patience is getting razor thin on this one.
ATI had a nice day with the $75s finishing at $1.65 (up 40%). AIR, on the other hand, went completely the other way and the $30s are looking far away at .25 (down 50%).
VZ had a great start but stopped out my remaining calls as it fell all day.
Neither HOV or DHI came down enough to buy but both held the floor all day.
Looks like we could have played the $50 puts on JOE!
ABX had a very tough time making .19 today but the Jun $32.50s are now $1.05 (up 60%).
HAL $80s continued to go straight up to $3.20 (up 60%).
