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Dropped Entries

None


New Watch List Entries

None - I am cautiously pessimistic for next week. I do believe oil could weaken and the broader market did not handle the jobs numbers well.

Current Watch List

PBR - Petrobras

This company has everything going for it and there is no reason for this decline other than sector rotation. If we see $90 on a dip we need to be buyers.

Company Info:

Petroleo Brasileiro SA - Petrobras (Petrobras) is a Brazil-based holding company engaged in the exploration, production, refinement and distribution of oil and gas. The Company is involved in four business areas: Exploration and Production, Downstream, Gas & Energy and International. Petrobras has 109 production platforms and 15 refineries. It operates 31,089 kilometers of pipelines. The Company has various subsidiaries: Petrobras Quimica SA - Petroquisa, which is engaged in the production, commercialization, distribution, import and export of chemical products; Petrobras Distribuidora SA - BR, which is involved in the distribution and commercialization of oil products and natural gas, and Petrobras Netherlands BV - PNBV, which is active in the purchase, sale and rent of equipment and platforms for the production of oil and gas. Petrobras operates in Brazil, Argentina, Mexico, Portugal, the United States, Peru and Turkey, among others.

Breakdown trigger: $100 *** New Trigger ***

Buy 2010 $120 LEAP Call YMO-AD ** New Strike **
Sell 2010 $140 LEAP Call YMO-AH

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USO - U.S. Oil Fund

The USO fell -$8 last week to trade under $80. If we really get some margin selling in the commodities and especially oil it is possible but not probable we could see $72. If by some freak combination of circumstances we do tag that level we want to be long.

Breakdown trigger: $72

Buy 2009 $75 LEAP Call OLL-AW
Sell 2009 $95 LEAP Call OLL-AQ
 

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