Friday, February 9, 2007

Late Morning Comments

Mastercard (MA) - glad I stayed away. Up to as high as $121 premarket, but down over $10 now at a little above $104.

Crude oil gave me a 2nd chance to jump out at $60 and I did.

Gold is where at I jumped in at $665, got to has high as $671. I'm just going to let that position simmer and see what happens with a tight stop as the move to $671 is encouraging.

Subprime stock New Century (NEW), after falling more than 30% yesterday, showing a 2% rebound. Other subprimers are struggling: NFI and LEND are both down more than 3%. Countrywide (CFC) which is only about 15% subprime is also lower by a half percent. I now have a short position there.

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