SURVIVING THE GAME

MAY 11, 2009

2009 - 29

MARKETS:

It appears the correction is at hand. Most indicators I watch are pointing to a significant pullback. My guess is back to 800 on S&P 500. I think Toronto will hold up better. Base metals and other commodities are rebounding nicely. If your a short term trader you may want to lighten up a bit on your longs and re-enter at lower prices.

URANIUMS:

Yahoo. Hold tight. They appear to have sucessfully separated themselves from the pack. If they are able to hold up during this pullback it bodes well for a continued rally. I am surprised at the speed of the rebound but I'll take what I can get. I'm ready to add the second allotment if we rally high enough.

TRADES:

Still in USO, SU and July crude straddle. USO starting to come to life. SU is doing really well. Oil straddle flat. Long Natural Gas using the GAS in Toronto. Moving up nicely.

No new trades lately. Just waiting to re-enter some SPY straddles. Probably around the $83 level. Volatility dropped off during rally so I'll wait to get a better price as we decline and volatility increases.

With that I'll see you later

Options Guy
optionsguy@shaw.ca