Thursday, February 1, 2007

Energy and Other Matters

The latest EIA numbers show a 186 bcf draw from nat gas supplies vs. consensus estimate of 200 bcf. Nat gas down 3.7% today. Bitter cold weather is coming in next week with highs forecast only in the teens in the NY Metro area Monday and Tuesday, but let's face it - meteorological winter is 4 weeks away from being over and within 7 weeks injections into nat gas storage will resume. The bulls are to be commended for keeping the price of NG above $7.30, no doubt due to the cold temps expected early next week.

Crude oil also taking a breather. As noted this morning, crude is coming up on key resistance so things may get a bit choppy in the days ahead.

The Google call buy was dumb and I dumped them at the open. You win some and you lose some. I have AMZN puts... we'll see what happens with that tonight.

I took a breather with April gold locking in large profit at $665 which fortunately more than offset the GOOG call loss.

Apple laptops are about to get brighter displays... reports Ann Taylor (ANN) shares have been rising on renewed LBO chatter, but no details supplied.

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