The market, [[ABK]], and Charlie G all got smacked down today, right about the time the Chelsea boys in blue schooled their Greek opponents (highlights). Coincidence? I think not.
Seriously though…did anyone actually expect Gasparino to be right about the bailout? Before you buy the next hype from CNBC & Gasparino, look to ‘The Fly‘ for some real analysis.
DP Buys:
- [[ALK]] calls – limit order filled @ $24 (uptrend support). Was looking dodgy, until news hit of the latest round of [[DAL]] – [[NWA]] merger discussions. Those 2 ripped about 10% and the rest of the sector followed.
- [[APH]] calls – was undecided whether this had broken or held support @ $36. Placed bullish bet above the prior 2 days’ highs; filled at $37.
- Both ALK & APH were July Calls, in an effort to avoid getting stopped out during these wild intra-day swings we’ve been having (lower deltas than March/April options).
- [[DRYS]] – held support yesterday, bought Mar 70. Calls at the open.
DP Sells:
- As detailed before, dumped both [[AGU]] & [[LM]] puts. I might have gotten faked out of LM, but it did fail to make a new low today, while taking out the past 2 days’ highs…signs of strength, usually.
