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Thursday, April 30, 2009

XOM - Sell To Close and GS Update

Well late updated on XOM, we had a wonderful two day rally into earnings and Sell to Close yesterday all calls positions. XOM reported net down 58% on lower oil prices and 1st-qtr profit down 58 pct. This why you never holding into earnings. Could have straddled with the puts the day before the annoucement, however, it was a great trade.

GS - Bouncing like a rubber ball in a PinBall machine game. It appears we have closed our gap from the April 14 earnings drop this afternoon, we are currently at this time in writing we are heading lower.