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Politics : Welcome to Slider's Dugout

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From: SliderOnTheBlack	8/29/2005 9:11:38 AM
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re: Hurricaine Katrina....... Unfortunately for the residents of the Gulf Coast and especially those in the New Orleans area; Katrina looks to be a major disaster in the making and the coming devastation there certainly overshadows market opportunities. Marketwise, Katrina may buy the Simmonsites a bit of time here...as there may be significant temporary disruptions to the Oil & Gas markets & infrastructure. The O&G Speculators will be feasting like Vultures on a rotting carcass... Time to step aside and give the speculators enough rope to hang themselves once again. The bigger story may be a potential paradigm shift in consumer sentiment & spending as Local TV News Camera's all across the US will be doing "live shot's" today from local Gas Stations as prices spike on existing inventory - which will make the backlash against "Big Oil" the topic DuJour all across America. While the fundamental impact to "prices" should be temporary - often the interim spike in prices is enough to shift both consumer sentiment and spending on a longerterm basis. Tradingwise; it's time to take off the Oilpatch shorts and patiently wait for spec's to do their thing... the greater the degree of "excess" they pump into the market - the greater the inevitable correction. I've got the last remaining remnant of my Options Straddle from this spring yet to unwind (below) that will allow me a little aircover on unwinding shorts... I will let my final small position of LEAPs (calls)continue to ride here and hopefully that will more than cover any exit cost for covering Oilpatch Shorts here. Message 21532117 ["...When I covered my short - I bought some max out of the money Calls & LEAPS to institute a moving/dynamic Options Straddle - but admittedly, with an ultimate Short-Sided Trading bias. Today, those "calls" are highly profitable and I am cashing in all of my "calls" bought on the short-cover...but, will still hold 'all' of my LEAP CALLS - in following the Market Lesson of 1999."] But, once again; as one door closes - another opens... Airlines will get the double-whammy of a ramp in fuel costs and lost revenue, building materials will probably see a price spike; Business & Industry will be negatively impacted, jobs & wages lost... this won't be good for Builders, Lenders etc. Say a Prayer for those along the Impact Zone... Slider

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