Monday, April 24, 2006

Rally in Bonds

Trades
ABX Barrick Gold called away at option expiration
PDLI PDL Biopharma April option call expires worthless
Sell PDLI to finish closing account as I move to another broker. Both ABX and this batch of PDLI are closed at just above break even, with commissions equaling or exceeding my profit.

Bond market continues a modest rally from an oversold condition. TLT is an exchange traded fund of 20-year US Treasuries (chart).

RMBS Rambus which was down on a rumor, gets a positive jury ruling and shoots up. All the options are tanking because a much bigger move was expected on both sides.

TZOO Travel Zoo continues an amazing rally since announcing its earnings. It shot up 42% on the day of the announcement to 29 and is now at 51! Holy Toledo.

Oil leads gold, silver and other metals lower. The steel stock NX I bought on Friday is tanking. ACI Arch Coal another stock I considered is leaping up again. This kind of event keeps me humble.

BEAV B.E. Aerospace up on earnings and I've added it to my watch list.

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