Sleepy trade

Markets are up about .5% after a slightly better than expected ISM number was delivered.
Banks seem to be leading the way this morning. Im selling some JPM stock this morning that I bought in last weeks selloff against my strangle - JPM is up $1.22.
HOV vs HOVNP has hit a new level this morning - HOV is rolling out some debt maturities by buying in some paper at a discount and selling some new paper - with the net effect adding another 80 million to the balance sheet - all the while the HOV preferred is still trading at 20% of par - cheap but showing signs of life.

So baseball season is officially over for me with the Cubs posting a record of 83-78 - 2 games were not played due to rain...crappy season - but so it goes. Now its time to rev up for the Blackhawks - it makes me a little nervous that all of the sportswriters are calling them to win the Cup.....but maybe they will be right - that would incredible.

JB