Shorted some cubes (QQQQ) at the $46s and 47s. Crashed hard for couple of days. +8.5k
Long USO in front of Gustav - ripped up on this one. -5k
Apple short expired worthless. -3k
As Apple hosted its "Let's Rock" event, the stock tanked back where I started shorting. Lesson learned- Apple only moves on these products announcement date. And look at Steve Jobs, his skinniest is directly correlated with the thinness of his product. As the iPod touch get thinner, so does Steve.
I still question Steve Job's health here. Apple is a $120 stock in disguise.
On the other front, Goldman's earnings will be out next week - have a little bullish feeling on this one as GS is getting sold with this Lehman news. Not sticking my head out for them as there might be couple billions of write down coming. I would short Morgan Stanley instead.
I'm just glad the summer dullness and light volumes days are over. I should not trade during summer time- never had good trades or good reasons to trade. Next year I'm taking a 2 months vacation.
R.I.P. Fannie and Freddie, you guys were such a great couple. Sad to see you go.
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