Friday, June 6, 2008


i was in the IB chat room and i saw the unemployment report and the oil action and i knew this was going to be a huge down day, one of those, where we go down the whole damn day....and i called it 400 points down on the DOW.

did i get it right ? Hell Yeah !!!

as you know, i had a bunch of puts and i made money on all of them. i didn't make mad money though, because some i sold too quick, like BNI and NUE and others like STLD, just wouldn't die. infact, in the morning both my STLD and MON positions were well against my position. MON in particular caused me a lot of heartburn and actually did not break till the end of the day, although i sold earlier for nominal gains.

while, i knew that the full impact would come at the end of the day, but still it was a tough day to hold through, so what little (NOT) i made is still welcome.

i would have made much more playing the volatility, but my family kept on distracting me with chatter. SIGH !!!

BTW, oil over 130 is very bad for US economy and around 150 is complete decimation of current levels of the GLOBAL economy.

now we go out to Yuva, for some nice Indian cuisine.

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