Shorts Merc’d

Hope you weren’t heavy short going into the weekend, futures up 3 figures. We also have some good news in the oil space.

Developing…

Note: Check out the sweet sixteen

We will continue this move higher and breakout above 800 on the S&P 500. Just playing, but seriously, it could happen.

You gotta love this little bull flag that formed today:

Here are a few hot stocks courtesy of The PPT:

PDE:

HES:

NOV:

Note: I will be out, for the most part, until Monday. My Brother is getting married this weekend in New Orleans– Bachelor’s party Friday night, rehearsal dinner Saturday, & wedding on Sunday. You guys hold up the market while I’m gone, and make sure you cheer for team GOOG.

First off, my Tigers just won their game in the real Tourney, and It also looks like The Fly just took the lead against Boomer in the MadStock Tourney. Second, never bet against The Fly, it is scientifically impossible to win.

It also appears that I am neck and neck going into the 4th quarter with Shortbus. GOOG is hovering around it’s 50 day, all I need is a small move in the stock for a breakout win.

Other tight games include Mushroomz & ZMoose with their picks in FCX & XLF, what a game that one turned out to be.

As far as the market, the DOW is holding it’s upward trendline since Tuesday, and I see no reason to take profits on longs, yet.

Seems like a healthy pullback, however we may have an interesting close. Developing…

With stocks pulling back, after this monster move, I will be looking to add a few positions around 7,400. I would love to see a retest of this level, then shoot higher. This would put me all in.

Complements of Earl of course. I’ve been touting DXO for 2 weeks now, Jake has also been all over oil as of late. It pleases me to see oil bust through $50, with DXO being my largest position.

I also have a big position in WTI, and just added to my position @ the open. I will also be adding to my position in GOOG, it’s just a matter of time until it catches fire.

How ’bout C? Remember the poll I put up when C was @ $1.20? Well, let’s just say the call option worked.

I hope you guys are enjoying this move, I tried to get you in. I even bet my blog last week, that we were moving higher.

If you guys need me, I’ll be in The PPT.

Oh, and congrats to Alpha, I know he is banking coin.

I bought UA & VMW, but you already know that because you’re a PPT member, right?

I also like earl (oil) right here, I would be buying DXO with a stop right below 50 day. (disclaimer: I own a bunch)

Note: How ’bout a little AKAM?