I woke up to find the market doing what it does SPUZ up 10 - all is well in the world. Oil is shooting higher as well - there was a piece in some European paper that world is running out of the black gold way faster than anyone thought possible - OK - how exactly does he know that does he have a dipstick in every oil well? News these days is nothing more than constant scare tactics or stupid celebrity gossip - unless of course you watch CNBC where everything is ROSY 24/7 - but I dont watch CNBC anymore.
Back to the task at hand - I am coming into the opening with my short bearish positions - Im not planning on covering - why would I at this point? The puts have been whittled down to iddy biddy soldiers at this point. Im still thinking about the weak closes on thrus and friday but apparently the price is no object SPU buyers this morning are not. If you need price action watch HURN this morning - it getting absolutley clobbered...Im gonna look at buywrites in there right out of the shoot.
JB
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