Morning Thoughts

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

Aug60 puts @ 1.55

Just take a look at [[EBAY]], [[GOOG]], how about that [[YHOO]], let’s not even talk about [[MSFT]].

Right now I like [[PCLN]] and [[CRM]] on the short side.

Hitting resistance:

Hitting 200 day:

in afterhours trading.

Note: Tomorrow looks grim: MER, MSFT, GOOG, COF all bleeding after hours.

You gotta love this action if you are a trader. We are seeing monster moves in everything from banks to oil, everything is flying.

Today my theme was simple, oil was breaking down and I wanted to take advantage of it. So what did I do? I bought everything that has been beatin’ down because of oil. Airlines via [[HA]], Refiners via [[HOC]], the consumer via [[BWLD]].

Sometimes the easiest trades are in front of you, you just have to think through this tape.

Note: I made a terrible decision buying [[AAPL]] in front of the [[GOOG]] numbers. It could have been worst I could have bought GOOG.

See you guys tonight..