Friggin Volatile Man

So I’m long financials at the open and things are looking good, then the oil inventory number catches all the shorts flat footed and the baton got passed from financials to energy. I immediately sold the financials and bought OXY, and shorted DUG and held them all day (that move was on twitter). OXY ended up about $5 and DUG down about $4. I covered and sold them around 3:30. I also went back into UYG,MER and BAC and caught the bounce back up. I got stopped out on my XME long at a small loss as steel came off but not coal. I hate when a direction is established and then reverses. I was all set to just be long financials and just have a nice day as I thought they would follow through. Goes to show you how short the energy names were, because they really rocked. My arch enemy, the financials, until yesterday, really are showing strength here. If oil didn’t get in the way I believe they really would have exploded. They still need to be shorted again, but not yet. Maybe tomorrow if they gap up. My buddy in the S&P pits swears to God that the GDP number leaked out and it’s going to rock, and that’s why we rallied late. Gotta love the conspiracy theorists.

As usual I missed the long side move in the ags. as I was trading financials and energy. Coal was easy money-JRCC,MEE and I missed that move too, but you can’t be everywhere.

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