Well I guess it wont be a 300% winner on those calls tomorrow. Whatever it is the play is over and I will sell my calls tomorrow. It shouldn't be a loser anyways as my entry was $2 and friday's closing price was $2.51.
I might take MELI short on this news depending on where YHOO opens. Should it open much lower I will be inclined to short MELI as a sympathy play.
Also saturday afternoon JP Morgan came out saying the financial mess is far from over, I concur with this but market pricing of stock is much different from this consensus so we will see. As usual I love Citibank short on this news and the SKF long. SKF had a great day on friday as it went $5 higher than it opening price after gapping down.
Also if the US dollar continues to rise I expect GOLD to slide further. I will be watching the agro trades this week specifically POT and AGU.
Sunday, May 4, 2008
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