In Today’s Post:

1. Holdings Watch
2. Commodity Watch
3. Natural Gas Storage Review
4. Earnings Watch
5. Other Stuff We Care About Today
6. Odds & Ends

Holdings Watch:  The WIKi Holdings tab is updated.

• Added 10 CLR May $25 Calls (CLREE) for $1.25 and with the stock trading flat on the day. Oily CLR reports 1Q09 results next week. Looking for more positive results out of the Three Forks Sanish in the Bakken play of the Williston Basin, its the unhedged oil name with oil firming and it should be interesting to see how much stretching of their capex will be possible as completion costs come down in the region.
• Added another 10 CLR $25 calls on this market retrenchment for $0.75. Brings average cost to about a buck.

• Added (10) RRC May $42.50 calls for $0.70 with the stock off 6+% at $40 on a broker downgrade the day after they reported a solid quarter. This one is gassy and highly hedged for 2009. See the Wednesday post for more thoughts here.

Commodity Watch:

Crude oil closed up $0.15 lower to close at $51.12 yesterday on a dearth of new fundamental data and the early morning pop in the equity markets.  This morning crude is trading up slightly with equity futures and a flat to down dollar.

Natural gas fell $0.03 to close at $3.37 yesterday after the EIA 914 came out, roughly in line with the Natural Gas Monthly and showing few signs of production growth weakness outside of Texas. Gas again appears to be trying to put in bottom at current levels. (See PVA’s plan below regarding the current environment). Gas originally recovered from an opening loss after the EIA released an "in line" storage report.