This is not a predictable market. I think Alpha said it best last night, “Anything can happen overnight.” It’s amazing how (MER: 30.91 +0.59%) & (COF: 42.87 +0.16%) can bleed in afterhours, but look strong in premarket. Now I remember why I stopped buying stock in afterhours. I closed out my (SKF: 138.00 -5.32%) for a loss, as it looks like the market is ready to rally for the third straight day.

I will be leaving for a fun filled weekend in New Orleans (best friend getting married). I leave today with the feeling of victory, ready for a bunch of white rhino’s.

This was a fantastic week for the Cajun that started with a nice strangle trade and only got better from there.

See you guys Sunday night.

Update: Added to (HOC: 28.59 -5.27%) @ 29.10

Aug60 puts @ 1.55

Just take a look at (EBAY: 23.98 -0.91%), (GOOG: 481.32 -9.77%), how about that (YHOO: 22.45 +0.04%), let’s not even talk about (MSFT: 25.86 -6.03%).

Right now I like (PCLN: 104.64 -5.92%) and (CRM: 70.74 +1.61%) on the short side.

Hitting resistance:

Hitting 200 day:

in afterhours trading.

Note: Tomorrow looks grim: MER, MSFT, GOOG, COF all bleeding after hours.

You gotta love this action if you are a trader. We are seeing monster moves in everything from banks to oil, everything is flying.

Today my theme was simple, oil was breaking down and I wanted to take advantage of it. So what did I do? I bought everything that has been beatin’ down because of oil. Airlines via (HA: 8.65 +1.29%), Refiners via (HOC: 28.59 -5.27%), the consumer via (BWLD: 27.55 -2.62%).

Sometimes the easiest trades are in front of you, you just have to think through this tape.

Note: I made a terrible decision buying (AAPL: 165.15 -3.88%) in front of the (GOOG: 481.32 -9.77%) numbers. It could have been worst I could have bought GOOG.

See you guys tonight..

(AAPL: 165.15 -3.88%)

On one hand I want to take my profits and run, on the other I want to see what (GOOG: 481.32 -9.77%) & (MSFT: 25.86 -6.03%) do.

What are you doing?

I just dumped my (HOKU: 5.39 -5.77%) Aug5calls @ 90 cents — for an egregious gain.

Note: I’m in the zone: (HOC: 28.59 -5.27%), (HA: 8.65 +1.29%), & (BWLD: 27.55 -2.62%)

(BWLD: 27.55 -2.62%)