Just watched the NCAA man's basketball championship game between Florida and Ohio State. Because of Florida's victory, my picks in office pool finished first place!
Market showed resilience today after bad ISM number and New Century's bankruptcy news, helped mainly due to energy sector's strength and MA news. So it may again try to push it higher in this short week. Let's see what happens next.
- I'll consider use mortgage's play as my next speculative play instead of RIMM. My RIMM puts are not working out for me, since I added put first on last November, it's another 4 months, RIMM is still strong. So I will not add any RIMM put any more.
- Some financials related to mortgage should do poorly in the next few months, CFC, MTB,CNB, and home builder ETF like XHB.
- I'll add puts on any strength on CFC, CNB and MTB.
- I won't play the CFC bounce, since I don't know when another shoe is dropped, it's really difficult to play the swing. So be careful!
- For the first time in a while, gold showed some separation from general market today, went up big compared to a slightly up market today. I'll watch gold in the next few days.
- If UK's sailors are released soon, I think oil will drop, and in turn will hurt gold. But you never know what's Iran's next move.
- I don't think market can break out this week, nor can it break down. It should be in a range unless we have some extreme situations.
- Next week will be key since we have news on Good Friday and major earnings start to pour next week.
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