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Friday, February 6, 2009

What a rally, looks like short covering .

So as the economy worsens , at least according to the news, the stock markets rally. Well maybe this is already priced in, or maybe big money wants the markets to go higher. There are many targets out there, 920, 950 and so on, I am a skeptic for now and I think this move in temporary and we will see weakness before the markets ramp higher.
I got some more USO calls this am as it made a new intraday low and I checked that on 03 it had support at 27.54.
My Rimm puts are very low now but my BRCM calls and original USO calls bought last week are doing good.
I am going to sell most by markets close but I will keep some USO calls. The p/c is very low now and I am sure we will go down and consolidate a bit at least next week.

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