Some recent trades

Friday, April 07, 2006 | 12:04 PM

Last night on Kudlow, I mentioned I would fade the opening move. We're not day traders, so I didn't take my own advice -- but its apparent that the market is not happy with the NFP data.

As we mentioned earlier today, yields and equities shouldn't be moving in lockstep. Apparently, the bond ghouls have awoken from their winter hibernation. The 10 year is a stones throw from 5.00%. Its funny how stocks ignored yields all this time; Suddenly, stocks are finally reacting to the shift upwards yields. 5% yield drives the Fed, attracts cash to CDs and fixed income products, and makes coprorate borrowing  more expensive, hurting earnings.

A 5% yield is not a stock friendly number . . .

Over the past week, however, I have been trading (and trading around) some positions; Here's a few recent ideas:

Since today's NFP had the potential for causing a big gap, I closed a few trades out earlier this week

-The good move was selling the IBM over $84 on 4/5;
-The bad was closing the short of the QQQQs yesterday (doh!) -- it was opened on the Libby news;
-I am long the May $43 QQQQ puts and the VIX calls May $12.50s;

The two newest positions opened are Maylasia and Taiwan: I'll update this later today

Friday, April 07, 2006 | 12:04 PM | Permalink | Comments (18) | TrackBack (1) add to | digg digg this! | technorati add to technorati | email email this post



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» VIX Calls, Trust me from At These Levels
I know most people don't use the VIX model the way I do. That's fine. Still, a major signal has been given out of a tight squeeze.(Note: This isn't a trade recommendation, I don’t personally have VIX calls because I have other options. But if you know any [Read More]

Tracked on Apr 7, 2006 12:53:28 PM


Long EWJ, with May 15 calls written against the position.
Not a recommendation.
Commentary welcome.

Posted by: GRL | Apr 7, 2006 2:00:50 PM

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