Doctor Jack's Stock Medicine

Slb

Bought 1 block of SLB at 62.30 and wrote 100 Nov 62.50 calls at 1.75/contract

Slb

Bought 2.5 blocks of SLB at 61.61 and sold 250 Nov 60 calls at 2.80/contract.

sold 2.5 blocks of SLB at 62.19, and bought back the Nov 60 calls at 3.20 for a net profit of 18 cents/share times 25,000 share

Tso

Bought 3 blocks of TSO at 62.95, and wrote the Nov 60 calls at 4.40/contract

sold 3 blocks at 63.62 and bought back 300 Nov 60 calls at 4.90/contract for a net profit of 27 cents/share times 30,000 shares.

Slb

Bought 2.5 blocks of SLB at 61.61 and sold 250 Nov 60 calls at 2.80/contract.

Tso

Bought 3 blocks of TSO at 62.95, and wrote the Nov 60 calls at 4.40/contract

Dia

Re-shorted 2 blocks of DIA at 121.03

Covered at 120.80

Dia

Re-shorted 2 blocks of DIA at 121.03

Yhoo

Bought 3 blocks at 23.01 to 23.06 and wrote 300 Nov 22.50 calls at 1.30/contract. The stock is cheap and undervalued, despite the slump in not meeting Wall Street expectations.

Sold 3 blocks of YHOO at 26.16, and bought back 300 22.50 calls at 3.75/contract for a net profit of 67 cents/share times 30,000 shares.

Mrvl

Two separate rumors involving the fate of Marvell are circulating: In one scenario, Marvell is a leveraged buyout target by private-equity firms, andThe other has chip giant Texas Instruments swallowing Marvell. While there isn’t a shred of evidence that any of the above two is true, anything is likely to happen when a stock falls in access of 60% since Feb of 2006… Just ask The fund manager at Whitman Capital. His 100 mill fund is about to get liquidated as a result of a large MRVL holding. I know that the fund has held it since the stock was at 58/share.

Imcl

Bought 2 blocks of IMCL, and wrote 200 Nov 30 calls at 1.50/contract. The resistance of 30 and support of 28 should hold well for the premium on the calls to vanish completely.

Sold 2 blocks of IMCL at 31.45 and bought back the 200 Nov 30 calls at 2.10/contract for a net profit of 1.04/share times 20,000 shares.

Amd

Bought 2 blocks of AMD at 20.06, and wrote 200 Nov 17.50 calls at 2.95/contract

Sold 2 blocks at 21.33, and bought back the calls at 3.95/contract for a net of 27 cnets/share times 20,000 shares.

Amd

Bought 2 blocks at 20.33, and wrote 200 Nov 20 calls at 1.45/contract.

Sold 2 blocks at 21.37, and bought back the calls at 1.75/contract for a net of 73 cents/share times 20,000 shares

Dia

Re- shorted 2 blocks at 120.89. I'll cover tomorrow for a more ripe trade.

Covered at 120.73

Mrvl

Bought 6 blocks of MRVL at 16.50, and wrote 600 Nov 16.25 at 1.00/contract

Sold the shares at 17.65, and bought back the calls at 1.70, netting 35 cents times 60,000 shares.

This market is on steroids. I'm still seeing some room for the bullish % numbers to keep rising. But at the very least, you'd think a yellow caution light would come on somewhere?

If the selling continues tomorrow, then we would see bargain hunters step in. Thereafter, any selling would confirm a trend reversal.