Friday, June 09, 2006

Sell ATK, Buy VLO Valero Energy

The blogger host site has been having problems on and off during the day.

Trades
Sell ATK taking a loss. Stock still looks okay, but I have reached my loss limit.
Buy/write VLO Valero Energy
Buy VLO, sell the July 57.5 call (in the money)

I am impressed at the tape action of the oil stocks with the news back drop. The VLO chart actually looks lower to me, but tape action and news say it is a good time to buy.

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