Tuesday, July 10, 2007

SHLD Sears/Kmart irrelevant?

SHLD Sears/Kmart gets hit hard today on earnings news. They also announce a $1 billion stock buy back. Seems foolish in the face of that news and the run the stock has had. I was tempted to buy puts on this one, but did not pull the trigger.

Market seasonality points to more volatility until September.

Positions long TXN hedged, RJET unhedged

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