Not Quite........

Today was the big day. Dow 14,000 was crossed (we won't mention that the broader S&P 500 index actually fell on the day). I'm not sure what repelled the market away from this level. Your guess is as good as mine.


Of course, television pundits were completely obsessed with the Big Round Number. If and when we actually close above 14,000, it will be about 3 seconds before someone writes an article entitled, "Next Stop: 15K!" Yawn.


I took a small bearish position on CME today. It seems we have a failed breakout here. Plus, all the elation over BOT is past us now.


Intel is one of the largest and earliest earnings reports for Q2. As of this writing, this stock is down nearly 5%, wiping out about $7 billion in shareholder value. As an aside, YHOO also just reported, and they are down about 2% right now.


I've got puts on NutriSystem, whose stock is finally starting to slip some.


I also augmented by CVX position by buying some XOM puts.


That's it for today. I think some of the snarky comments have me less inspired to write a long, thoughtful post. I've got other things to do.