Congratulations President Obama! Sentiment remains pretty guarded despite yesterday’s low volume rally and while I mused about taking more profits off the table in preparation for a "buy the election polls, sell the election returns" event I actually ended the day at about the same cash level  (about half cash) as I started. Today we have a slew of somewhat lackluster E&P and service company results, $2 down oil on a flat to slightly up U.S. dollar (that’s just a little profit taking on the oil as I think oil is finding an OPEC sponsored floor here), and a similarly retrenching broad market. I would not expect a harsh sell off here but more of a "so now what?" feeling to the market today and for the next few days as traders weigh the new dawn in politics vs the words of Jack Welch this morning: "so many sectors of this economy are really going into the can right now." The next big event in political finance will be the choosing of a Treasury Secretary and boy what a fun job he gets gifted. Anyway, not going to get political other than to say that I think solar stocks are the obvious (too obvious?) winners here along with most things alt-energy, and that oil prices will likely be driven higher if "Big Oil" is forced to subsidize the alt-energy sector’s R&D budget. Happy hunting. 

In Today’s Post:

1. Holdings Watch
2. Commodity Watch
3. Oil Inventory Preview
4. Earnings Watch - PXD, RIG, KWK
5. Other Stuff We Care About Today
6. Odds & Ends

Holdings Watch: The Wiki and $10KP Tabs are updated.

 

• EOG - $10KP TRADE - Sold the (2 of the 5) EOG $85 November calls for $3.50, up 63%. Still holding the November $75 calls here. See comments in the post and comment area for reasoning here after a very good quarter, I’m just locking in a rapid rise in the most sensitive call position.
• EOG - $10KP Trade - Sold the EOG $75 Novembers Calls (EOGKO) for $12, up 100% since entry on 10/17. I continue to hold the half position in the Nov $85 Calls here.
• FLSR - Sold the FSLR November $125 Call (QHBKE) for $51, up 325% since entry on 10/24. I continue to hold the January $210 Calls in the $10KP.
• TAN - $10KP TRADE - Bought (10) TAN December $15 Calls (TANLC) for $1.50 with TAN at $13.60, up 13% today. 

• NE - $10KP TRADE - Added (5) NE December $40 Calls (NELH) for 1.28 avg cost. This is a play on RIG earnings tomorrow.