notes for tuesdays trade

The euro had an outside day higher and finished fairly strong so i'm even more convinced than yesterday that the correction is not over. I am starting to reconsider my plan to sell at 131(ech2 futures) as 132 is starting to look more reasonable. Two things in equities looked interesting to me today. pot(potash) looked like it had put in an inverse head-and shoulders and was getting ready to break out of a consolidation pattern to the upside. They report on thursday. I bought the march 50 calls(i meant to buy feb but i messed it up, but ill live with it). I think the better play would have been to buy the shares when it actually broke out(above 46.20ish) up until Wednesday and then if it hadn't broke out by then , buy the calls , for the earnings play.Tomorrow i will be watching one of my favorites so(southern company)as that pattern looks like it could have some upside. I will probably stop in above 45.55 with an objective around 48.The fundamental argument for utilities has never changed and that 4.5% yield looks pretty sweet compared to a 2.07 ten yr..Crude had a strong reversal today(in candlestick whats the opposite of a "dark cloud cover"? cause thats what crude had) and it looks poised for more upside. I had covered most of my rig and moved whats was left into the longer term portfolio...on to politics.and btw if someone is not interested in my view on politics please stop reading here, my feelings wont be hurt. As i see it my strengths are markets, politics ,dog training personel hygene and how to score with chicks, but you may challenge..As i said yesterday(and doug kass said today, but whos time stamping?) newts momentum could be a fairly serious headwind to equity markets. If mitt gets the nomination the election will be about obama's weaknesses but if newt gets the nomination it'll all be about newt. I'd bet money that every time newt climbs a percentage point in the poll, white house staffers either high five or chest bump cause it becomes way more likely that they keep their gig for another 4 years. I completely understand that mitt, when it comes to conservatism, is kind of  beige but he is our only shot at any conservatism(ps is conservatism a word? i was never strong in english). austin goolsby(who i like and respect...most the time) made a comment on twitter today intimating that mitt has a history of flip flopping on issues. The democrats have been saying that for years and it is completely infuriating. There is nothing even remotely ironic about favoring a health care plan for Massachusetts and opposing a similar plan for the entire country. The demographics are vastly different the economics of the situation are vastly different the scope and scale is not even in the same ball park. You can even make the argument  from a philosophical standpoint and say that the federal government is the one that needs to be reigned in and some responsibilities are handled far better at the state level, but there is no real need for that argument as the debate is easy to win without it.....ps nothing in this post is a recommendation to buy or sell anything just sharing my personal thoughts on my personal trades...have a great night and feel free to criticize anything in the note...