In edit now went CCMP at $48.27 for $.83 yielding a bucker plus on that one as well.
And back in EXPE at a $.41 discount here at $69.47. Four bucker, here we come... Also took the bucker from INTC here at $16.56 (well a two pence short), and just $.20 from KLAC at $37.05 (that one was heavily under water...).
i dont follow the dow too close but it tracks with the spx very well. there arent too many cases where spx/dow fared better than nas. that said the same period last year(jan - mid march) was one such example of spx having better relative performance to the nas. perhaps that also came into play in the turnips model.
IMHO if nas tanks so does the spx/dow. of course nas tankage is worse in % terms though.
i will be lightening up on spx calls today. looking for a continuation of our move up today into 910-912 at the close. if we get there will dump 2/3 and get some puts for a hedge against mutual fund longs. 60 min spx chart says we need a pullback before the next leg up. if we get to 910 the pullback should stop around 897. if 920 then about 904. i will be reloading the calls after this pullback.
i have been looking for a pivot high of 930. your targets indicate a higher level for spx. i will ride it as far as da boys want to run it. steve
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