My Whole Lot of Bark, Not Much Bite

So Hurricane Gustav really didn't do much damage, even the helicopter inspection out on the gulf showed that the rigs were ok. There might be some distribution disruption but I really don't foresee a major effect on oil prices. Although, I do have to say that I think oil prices dropped too much too quickly and it makes me a little uncomfortable. I took off some of my positions today in ENER, LUFK, KOL, GMXR, HK, ARD, FWLT, and PTEN. I covered my CEO position short too quickly. It was my largest short position and I've been losing a crap load on it... stupid Chinse ADR. I think I only end up making 60 cents on this. I just don't really like how it'll gap up or down 5 points depending how it did in Asia. There were a lot of other stuff that I didn't get in or I wished I took more shares but really, I think I did the right thing in not risking too much capital on one idea.

I think it was Morgan that came out with the downgrade on DF today. I almost had to laugh when I read the news since that's what I've been hoping for since last week after SAFM and SFD's earnings. Let's see if we can get a few more of the herd to join.

I'm really a little surprised on what kind of prices some of these home builders are trading at. Is the housing market already rebounding? I bought some TMA at 40 cents. Normally I don't like to pick bottom on these low dollar stocks but honestly even if TMA goes bankrupt it's a good risk reward. I'm sure there are still a lot of questions that need to be answered. CNBC won't stop talking about how XHB is the best performing sector lately... makes me want to short it just to spite them.

Gold and Silver is breaking down... hopefully I can still find some mining companies to short.

Three more hurricanes forming in the Atlantic. We'll have to see how much impact they have.