Tuesday, April 3, 2007

Some Mid Week Ramblings

I took care of my wi-fi problems by going to the Verizon store and buying a broadband access card. Now I have plenty of speed.

I'm still going to keep this brief since I am all thumbs on a laptop... just not used to this type of keyboard. 1440 is once again a big area of resistance for the bulls along with the Feb 28 Nasdaq 100 gap area. Perhaps if the stars are aligned just right on Wednesday (meaning a surprise to the upside in ADP and Factory Orders, the bulls will finally break the 1440 S&P area, but filling the Nasdaq 100 gap remains to be seen. of course, earnings from electronics retailers like Circuit City and Best Buy could throw a little cold water on things as well. Unfortunately with vacationing in full gear I did not get a chance to make a short speculation againstCircuit City. Oh well, another time.

I am amazed at the growing open interest in Dendreon options as it awaits full FDA approval in mid-May for its Provenge treatment for prostate cancer. I am still holding a bunch of April 7-1/2 calls which at some point I am going to swap out of and into less deep in the money May calls. Total open interest is 878,000 contracts... simply amazing.

No comments: