I’m going to skip recapping this week, every financial news site has the crazy blow by blow of the craziest week I’ve ever witnessed since getting close to these markets 6 or 7 years ago.  I’m just going to recap my trades and the plan going forward.

So lets start with OIL.  What the H.  Ignore the lame Nigeria news point that hit the wire, this was all about a fall that was too fast and short covering.  But in that same theme the bounce off the lows is also too fast and too overdone as well.  Don’t expect this bounce to last, take profits soon.  My OIL positions basically doubled this week so I’ll look to cash out at least 50% of the positions next week, I’m more than a little proud that I had 10k+ into a position that every pundit said was headed to $30.  Ha.  This is still a long term strategy for me but I can’t turn my back on a double on this large of a position in 3 days….

My general market bet is up 75% for the week (SPY spring calls).  I’ll exit 50% on any further big rally days.  Friday is a big day next week with a jobs report, its probably nothing special but anything out of the norm is going to move the market up or down in a big way, I want to be playing with the houses money on SPY by Friday…

VMEM – I had a HUGE gain on this position leading up to earnings (.30 cents to .85 cents), I took 1/3 out with great profits but like an idiot I left the big position in for the earnings TANK.  Good grief they suck.  GRRRRRRR.  I hate that I used to work there and used to sell x10 more then the reps do now.  The lesson I take away for this is that you should not bet on a stock that you are to close top.  Yes being close to something gives you additional insight… but I think the emotional connection is just too much to overcome.

Bottom line is that it was a great week.  No an AMAZING week.  I think next week should be good leading up to Friday, thats the wild card day, I’ll post again before Friday when I decide on my moves.  Get ready for some MAJOR moves on Friday next week.  Its likely going to be crazy.