After the 10 a.m. release of housing data, unless all hell breaks loose, posting will be limited. I am under the gun to get another non blog project done.
I have dumped my short position in Palm.. basically the tiniest of profit after commisssions... didn't get the negative bang for the buck I was anticipating after results. There still seems to be a floor of support under the stock on hopes a buyout will emerge.
SPY Calls - still holding. Will decide what to do with those after housing. Oddly enough, VIX was mispriced on Wednesday afternoon. They took it way too low. Larry McMillan in his Daily Volume alerts noted this morning that $VIX rose yesterday because traders realized that VIX was priced below the statistical volatility of the SPX. Larry says that's rare. It's a good thing because even as the market dipped a bit intraday yesterday I had noticed that my SPX call premiums were little changed from where I made my purchase and I am still a bit above with water with the SPY position. cool.