Wednesday, January 17, 2007

Crude and Gold... Apple

The big event of the afternoon is Apple... earnings due shortly. Perhaps they will announce the iSnowblower, or iChefboyardee? Options volume downright unbelievable again on the call side. Straddle pricing and volume lead me to believe this one will trade either above 100 in due course, or below 90.. really not a brilliant deduction.

Gold is taking on a life of its own. I didn't even wait for the Industrial Production data to go long in futures. is the place to go to learn why gold is taking on a mind of its own.

Crude oil is an example of why you can never become married to a long or short position. I'm not here to brag about what I've managed to make shorting crude. And I won't deny that I went long crude earlier today as well, but taking a break for the time being though I still believe it has more downside.

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