Today's action:
- RIMM is up more than 5 to 127. This is a surprise to me, the volume is average, that's the only bearish thing about RIMM today.
- QID is up a little.
- PM shares have a great day, AEM, GG, SSRI and PAAS are all up big today. Even GDX is up big today. I'm bullish on all these shares and will continue to add on any weakness. And it may confirm the small correction since start of the year in PM is over.
- Today got chance to add RIMM Jan.08 120 put. Think in 1 year, specially after this year's market correction and iPhone's release in June, by Jan. 2008, RIMM will be a different company. It will be fortunate to have 50% of its current market cap. It takes great new product to compete in this very competitive cell phone markets, plus shrinking margin, all these will cause RIMM share to correct itself sharply.
- USO's strength is mainly due the the news of strategic U.S. stockpiles increase, but it's a good news to gold as well. I think in the long run, gold will outperform oil, due to dollar's secular bear market that may last years if not longer. For now, I'll be cautious to add OIH and XLE. May reduce them if it run up again.
Tomorrow's plan:
- Buy Jan.08 RIMM put again if it's up big again.
- Buy AEM,GG,SSRI,PAAS and GDX on 2%-3% correction.
- Start to watch BIDU again, if it touches 130 or more this week, will consider to buy Jan.08 put again.
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