Friday, June 22, 2007
Back in the Game
We got filled on our Call side play yesterday at $0.80 which isn't bad. We'll consider the Puts in a few weeks.
It was a bizarre day yesterday with the SPX going down a lot and ending up 9.22 to finish on 1,522.19. We are in the green.
Anyway same old stories; oil declined a little, bond yields rose and in economic news, the Philly Fed Survey came out well above expectations, further showing that the manufacturing sector is on the rebound. The index rose to 18.0 in June from 4.2 in May. This news follows strong reading from the Empire State Index and the ISM Mfg. Index. However, there may be concerns that strength in the economy could lead to Fed rate hikes to offset inflation pressures down the road.
Anyway, no news out today so not sure what will happen. Probably nothing.
Until next time.
It was a bizarre day yesterday with the SPX going down a lot and ending up 9.22 to finish on 1,522.19. We are in the green.
Anyway same old stories; oil declined a little, bond yields rose and in economic news, the Philly Fed Survey came out well above expectations, further showing that the manufacturing sector is on the rebound. The index rose to 18.0 in June from 4.2 in May. This news follows strong reading from the Empire State Index and the ISM Mfg. Index. However, there may be concerns that strength in the economy could lead to Fed rate hikes to offset inflation pressures down the road.
Anyway, no news out today so not sure what will happen. Probably nothing.
Until next time.
# posted by Paul @ 3:08 AM 
