Pioneer and a New One

We picked up calls on PXD the other day on the consolidation and now it is powering ahead.  The clue was the nice option volume - which is a precursor of things to come.  Holding here for now but may sell an upside call shortly (110 mar).  I'm adding some HLF here as the stock seems poised to move higher.  The short term momentum indicators are in great formation and price is looking to catch up here.  I'll go with a March play on the at the money strikes.

Position: Long PXD Mar 105 call at 2.55, long Mar HLF call at 3

Columnist Conversation / Market Updates

| May 16, 2012
| 4:04 PM EDT
U.S. stocks again gave up early gains and finished Wednesday lower....
| May 16, 2012
| 2:58 PM EDT
Stocks are hovering around flat, but the credit market is trading very poorly. Bid-wanteds in cash are rolling in, especially in the go-go financial names....

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