Tuesday, May 20, 2008

Mild sell off, AMZN, GLD

The stock market had a nice run up, so today's sell off seems mild and contained. Of the 30 Dow stocks, the only two that were up were the oils, XOM and CVX.

AMZN was upgraded on Monday. There are about three days worth of shorts in the stock, so on the third day from Monday (Thursday), I might look to buy puts, or sell calls.

Gold has had a very good week, though oil continues to show more relative strength. Historically, oil and gold have a strong correlation.

No current trading positions

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