July 16 Airlines Rally

Crude Oil sold off on inventory numbers and airlines rallied hard even after AMR reported a 1.45 billion dollar loss for its quarterly earnings.

The dow Rallied when Oil tanked off its inventory # at 10:30am EST.

I was long 3 contracts on YM before the oil spike lower and YM popped. I also got some good scalps shorting the 30yr bond futures contract. The 2yr (ZF) has been relatively strong compared to the longer bonds.