Summary – Monday, 2008.V.12.

Oil has FALLEN to $124!  It is now officially cheap!  The recession is over!  Economic recovery, here we come!  Buy buy buy buy!  Thank you.

DP Buys:

• Earnings strangles in [[CSIQ]], [[LDK]], [[ZOLT]].  LDK reported this afternoon…and the prognosis is not so positive for the other solars:  the whole industry is struggling with the soaring cost of polysilicon, which is somewhat crucial for the whole solar deal.
• Limit orders for calls in [[ALEX]] & [[KWK]] were filled during the day.  Managed to buy KWK right at the day’s high…

DP Sells:

• [[AIG]] puts were stopped out on the morning spike.  Booked an overall profit in the earnings straddle, but it could’ve been quite a bit higher as AIG soon reversed for a 5% drop…
• [[CHK]] looking toppy & showing some weakness…sold remaining calls (1st half was sold last week) to book the best percentage gain of the month so far (167%).  Wasn’t the highest net gain due to the small initial position size.
• Puts in [[AMLN]] & [[AMZN]] stopped out for a small loss & a small gain, respectively.