Everything was working today.

CPST broke out today on very big volume to another record 52 week high. If you’ve been reading SR since September of 2007 you know I like this stock.

The indexes had a great day today. 3.6% for the RUT and another 3.6%ish for the NDX. Nice.

My QQQQ calls which had their premium squeezed out, are back to even.

My USO puts from Friday were perfectly bought. Up 8% right now, but I think OIL is going to slide further. Theres a shot for USO to get to 96 bucks before even considering of moving higher.

The UWM purchase is matching similarly to the RUT, up 3.4%.

I mentioned I sold DAR today in my Midday Post. I took a loss on the fresh buy of DAR of about 8%, but had gains of 2% and 14% on the other DAR positions. Like I said earlier, I’m short Oil so Biodiesel is likely to get hit, I think though, when Oil finds a home again, DAR is going to rock again. Don’t want to forget about this one.

I kept all positions. Long heavy the indexes, QQQQ calls, short oil, CPST, and EDEN.

I’m looking for continued upside action over the course of the next two days. If nothing happens tomorrow, then Wednesday should break up, if not tomorrow and not Wednesday, Thursday. I’m anticipating higher highs in the indexes and it might come on the back of a larger slide in Oil prices.

If you like this post, check these out too

• May 12, 2008 -- OIL Short Working, Bought More EDEN
• May 9, 2008 -- Riding The Rough Water
• May 1, 2008 -- What Worked and Sucked Today 512008
• April 23, 2008 -- What Worked and Sucked Today 4232008

Thanks for reading

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