The natural gas number was bigger than expected and even the groundhog couldn’t save oil sentiment! I may have rose colored glasses but I see this as sector rotation.
Treasuries are not reacting to the productivity numbers, indicating the markets are overreacting.
These are stocks I am eyeing at the moment:
AAPL – $72.50 @ 2.85
AIG – $65 puts @ .75 (day trade on indictments)
ABX – Mar $30s @ $2
BUD – Mar $40s @ $1.50
DOW – Mar $40s @ $2.8
EK – Mar $25s @ $1
GM – $22.50 @ 1.60 (I know but it’s a day trade!)
PD – $165s @ $2.55 (cheaper than Apple)
SUN – $90 calls @ 1.70 (yes the put trade is over – look at VLO!) to be paired with XOM – $62.50 puts @ $1.90 (just in case it goes the other way)
Well, Europe just closed down 1% so either the money starts heading over here soon or we need to pack this one up and put the cash under the mattress!
Later,
– Phil