Thursday, February 09, 2006

Oil Run!

Short update: we are rebalancing right here right now to DELTA NEUTRAL on oil and maximum gamma.

So far this action has been amazing. I am no longer an aggressive Oil bear (but will still lean short delta after a lift). However, I am a massive long "gamma-er".

This market is going to move... again.

BTW, it is curious to see NDX react negatively every time Oil sector sells off. I think the NDX dips on Oil reaction are buyable.

Stay tuned for more or write us with questions: cadencecapital@gmail.com

Cheers,
/Dmitry

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