Friday, June 15, 2007


Strong day for the bulls or rather a strong opening session followed by a drift the rest of the day. It appears a lot of this recent rally has to do with option expiration and the need to pin the Dow S&P and Nasdaq to certain levels. I would not be surprised by a pullback next week. Semis, gaming and autos were the best performing sectors while airlines, personal products and telecom were the worst.

PENN IFON INFN YGE KUN DRA were among the bigest percentage gainers while BBW CRYO ENCY were the biggest losers.

Oil price rose to a 9 month high on refinery concern. I was hoping for a big move in oil out of its $61-67 range and it looks like I got it.

Penn National Gamings takeover by Fortress Investment Group boosted the gaming sector as MGM LVS WYNN MPEL were all up.

Insider trading or coincidence ? How TXU option activity surged the day after KKRs first meeting with TXU.

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