Friday Trades

FRI [This coming week it is important to start clearing off options with DEC expiration]

IN
JNJ – Resting on the 200 ema so an entry here seems well timed.  Believe the news is already in the market.
10 Dec 2010 10:54 EDT [JNJ] CRXL CEO: There have been no other discussion with other suitors since JNJ formalized offer this week
8 Dec 2010 3:45 EDT [JNJ] JNJ makes a formal offer to buy Dutch Crucell
24 Nov 2010 11:38 EDT [JNJ] Recalling over 9M units of Tylenol cold products due to labeling issue – CNBC

OUT
ARG (ALL) – Took profit.

Portfolio

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Thursday Trades

THURS

IN
SPY – Added to short.
VIX – Added to long.
STT – Started position. Swing trade.  Interesting candlestick shadow touching the 200ema.
ARG – Started small position on news.
09 Dec 2010 11:31   [ARG] Hearing Citigroup speculating ARG Board will accept the revised offer (timing uncertain)
09 Dec 2010 11:26   [ARG] Board to review the revised offer from APD at $70/shr
09 Dec 2010 10:18   [ARG] APD raises offer to $70 from $65.50; calls offer “best and final

OUT
KMB (ALL) – Took profit.
DB (ALL) – Took profit.
UUP (1/3) – Took profit.

Portfolio

Few traders in the pit today.  Less than half capacity in the last hour of the trade.  Usually the capacity reaches around 75% into the close.