Sunday, July 02, 2006

Post Russell

Kind of seemed like the Russell was a non event at least compared to the previous years. Volume just didnt seemed to be there especially with the quarter end there as well. I think a lot of hedgies have lost a lot of money over the last week and - while we may get a short term pop the overall theme is lower.

Right now im long some tech names via stock and calls: MSFT, INTC, DELL. Also long some SJT off of both the income (10% div) and a nat gas punt. Im also long CFC Countrywide financial puts - there are a little futher out as I feel like foreclosures are going to keep increasing its just something that is tough to time. Also im thinking about building my short position via some of the new ProFund ETF's SO etc.


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