David Hannon's Page

We are long....any opinions?

The 30 year bond auction went surprisingly well this afternoon. 50% of the bidding was “indirect” bidding which tells us there was a foreign government out in the market buying the US treasuries. We are now looking for the S&P to possibly close above 950, and with oil hitting new highs for the year I have decided to put on an alternative energy play. We are now long ESLR

I just got long the DXO with oil closing above $70, inventory expectations are for a decline tomorrow, the dollar is in a down trend, and estimates for oil on the street are rising. If there is a run up in crude before the inventory number tomorrow I will probably close out the position.

This morning we got long CSCO with it being added to the dow.

Oil had a surprise rise in inventories and did not hit $70 a barrel this morning. The oil names are leading the market down today and now we will be looking to take profits in our FAZ position this afternoon assuming the sell off continues