Market Trends
The wireless industry is undergoing a boom…

Bell South Corp. (BLS:NYSE) reported earnings of profit gains of 30% on wireless services. And yesterday, AT&T Inc. (T:NYSE) reported that earnings rose 26% due to its wireless carrier Cingular.

More about the wireless industry and what's making it tick tonight…

Material Profits
You know, I'm tired of all the non-cut theorists crowing just because Saudi Arabia announced its cut will be coming next month instead of immediately.

I'll have some reasons why I think the cut is imminent tonight in Market Report.

Trading Tactics
Good news for WS Professionals!

Today, we used the strength in oil to make a nice 25% gainer "buying to close" our Chevron November 65 Puts (CVX WM).

We sold these puts to floor traders last week for $1.55 and bought them back today for $1.10, making a “quick and easy” $0.45 in three trading days.

That's the power of selling options you don't own!

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