I’m kicking myself right now for not selling Valoro two days ago and now I have gave back all my gains. Along the way there was sign about possible drop. I need to listen to myself and leave my ego at the door.

PD was downgraded to hold from buy at Legg Mason over valuation. It’ll be interesting if it will hurt the stock today.

Opening Bell 10/5/2005

Nothing looks attractive for me to trade this morning. I will wait and see how market react to yesterday drop and the oil inventory number. Continue to hold QCOM and DNA from yesterday.

Market Recap 10/04/2005

Google and Sun announced the co-promotion of Sun’s Star Office Suite. This will help Sun’s Java run-time environment and for Google to offer additional application service to bring users to Google sites. This should translate into additional traffic for Google, but possible decrease in revenue for Microsoft down the road. But why [...]

Current assessment of Gulf Coast energy production: 71.6% of natural Gas and 90%of oil is still out. This news has no impact on the market as we are beginning to accustom to the shortage news.

If you listen to me from my previous post on Phelps Dodge, you would have miss out today’s 7pt surge. Unbelievable!!!

10/04/2005

Sun Microsystems and Google will make announcement this afternoon around 1:30pm. The speculation will be a competing office product or server products.

10/05/2005

Opening Bell 10/4/2005

Market Recap 10/3/2005

CHK is buying CNR for 2.2 billion in cash and 75 million in debt from Triana Energy Holdings. It will create the third largest reserves in the US after Exxon Mobil and ConocoPhillips. They are planning to spend 4.1 billions to actively develop CNR’s probable reserves. With the natural gases moving up [...]

With copper at 16 year high, producer like Phelps Dodge (PD) are enjoying record profits. Chinese demand and global economic expansion reduced the inventory to 31 year low and consolidation in copper industry during the 1990s bodes well for the world’s second largest copper producer. PD also produced molybdenum, a secondary metal surged [...]

Lennar was selected to move into the S&P 500 and Beazer is moving into the mid-cap 400. The selection is a surprise to most people as speculation was for Google to move into the S&P 500. The selection help these two stock surged on heavy volume as the index funds will not have [...]

Gasoline futures are down, but refiners are up like Valero and Tesoro. Why??? Typically, refiner stocks move with the future price. I have 6 contracts of Nov 115 call and try to decide whether or not to close out half to realized some profit because I’m not sure if the energy prices [...]

Institute for Supply Management’s Index of factory activity rose to 59.4% in September from 53.6% in August. Economists were forecasting a decline to 52.1%. This number will definitely shatter any hope of Fed pause rate hike. With the exception of NASDAQ, Dow and S&P both reverse from positive territory into negative. [...]

Yesterday was Michael Eisner’s last day at Disney and I couldn’t help but feel sad about it. To me he was the face of Disney while I was growing up. He made me believe dreams can come true. I want to thank him for what he did for me and Disney and [...]