Oil Receives the Homo Hammer

Short Oil continues to work, but for how long? Alternative energy stocks are getting killed take a look at [[FSLR]] & [[CSIQ]], however [[CLNE]] & [[GU]] remain in the green. Odd, no?

Has the game plan reversed course? Is it really long the banks, short oil?

One could buy an [[HK]] or [[CHK]] at these levels, but to me it make more sense to pick up a refiner here.

Are you a buyer of oil here?

Note: [[ENER]] looks next in line to fall, I’m all over it below the 50 MA.

Did I mention that I love [[HA]], and hate [[CRM]]? This morning I caught a delightful downgrade in CRM helping my short position bank coin. I also have HA busting out to fresh highs.

Did I mention that you need to look at the refiners? Check out [[HOC]] & [[VLO]]

Did I mention I held [[AAPL]] through earnings? That was a mistake.

Tuesday:

• AK Steel Holding Corp AKS
• Baker Hughes Incorporated BHI
• Biogen Idec Inc. BIIB
• BJ Services Company BJS
• Broadcom BRCM
• Caterpillar Inc. CAT
• E*TRADE Financial Corp. ETFC
• Freeport-McMoRan Copper & Gold FCX
• Halliburton Company HAL
• Illumina, Inc. ILMN
• Intuitive Surgical ISRG
• Jacobs Engineering Group Inc. JEC
• Jefferies JEF
• JetBlue Airways JBLU
• Nabors Industries NBR
• optionsXpress Holdings, Inc. OXPS
• Raymond James RJF
• Regions Financial Corp. RF
• United Parcel Service, Inc. UPS
• UnitedHealth Group Inc. UNH
• VMware, Inc. VMW
• Wachovia Corporation WB
• Washington Mutual WM
• Western Union Co. WU
• XTO Energy Inc. XTO
• Yahoo, Inc. YHOO

Wow, my head still hurts from this weekend, and I don’t own any [[CELG]]. The easy trade this morning would have been to buy [[BIIB]] off the [[DNA]] news, but I’m still trying to wake up.

I bought some [[WM]] calls on Friday for a weekend hold and they turned into more money for me. [[HA]] is also looking great and ready to bust out to new highs.

Do you own a refiner? I think the time is right, I like [[HOC]]. Do you own [[AAPL]]? I do, and will be adding to my position no matter the outcome of the quarterly report.

Want something to short? Try [[SOHU]].

I’ll be back later, I need to find some Tylenol.

This is not a predictable market. I think Alpha said it best last night, “Anything can happen overnight.” It’s amazing how [[MER]] & [[COF]] can bleed in afterhours, but look strong in premarket. Now I remember why I stopped buying stock in afterhours. I closed out my [[SKF]] for a loss, as it looks like the market is ready to rally for the third straight day.

I will be leaving for a fun filled weekend in New Orleans (best friend getting married). I leave today with the feeling of victory, ready for a bunch of white rhino’s.

This was a fantastic week for the Cajun that started with a nice strangle trade and only got better from there.

See you guys Sunday night.

Update: Added to [[HOC]] @ 29.10