Indices are trying to move higher, from negative push earlier.
S&P 500 went down to 1197.34, which is a HIGHER LOW than Tuesday's low, positive technical strength.
Internals are negative by 50%
Gold Down by $36.70 @ $1609.30
Oil Down 96 cents @ $85.15
Canadian $ UP 13 tick @ 98.21
VIX UP 2.26% @ 35.22
In my portfolio :
Sold RIMM
Bought CNQ @ $31.30
Portfolio is CNQ,LULU,MS,JCP
Here is my $ weighting :
LULU 36.17%
CNQ 23.07%
JCP 22.26%
MS 18.50%
Most stocks are down
@ 2.15 following are green :
JCP,TSL,CLF,MOS,POT,SNDK,AMZN,VMW,
RVBD,BWLD,GOOG,AGU,MA,V,APKT,CIEN
C.....
BLOG does NOT give buy or sell.
PS...Last night my Internet was down, thus was unable to post.
Saleem
6 comments:
Hey Saleem et al,
I usually don't partake in speculative options activity, but I have to share a trade I put on recently. I have followed KOG and BEXP for a while now with those being my favorites in the oil E&P space as you guys knew. I think the market is disregarding the possibility of a higher bid for the BEXP assets, especially as markets look to be on more stable footing.
To this end, I initiated a very small position in the Nov 38 calls for $0.10. If a higher offer comes in at $40 for instance, these calls become worth $2+ for a 20x gain. I am not saying a higher offer will come in, but I thought the risk/reward was favorable here for a deep speculative position.
Options are not suitable for all investors and you should definitely expect your capital will be completely lost if no offer comes in, but I thought I should share given my close ties to the space.
Cheers! :)
Stocktrader
Hi Stocktrader,
Who says life cannot be exciting on Wall & Broad St...
I think 20X is an excellent "speculation".....
I bought TLM also....so i have 2 Oil play...
Good luck with your well thought-out option play.....
Sometimes miracles do happen on Wall St......
Saleem
SALEEM
Christmass is coming so
Stocktrader may get his stocking filled!!!:)
My bid oil/gas is CHK
Huge shale play
My TOT continues to be green it is French refinery and way cheep here.
EPD is a goodie too
Best to you all
C
Hi C,
Looks like we all may have better Christmas...hopefully greece will be resolved SOON.....
Saleem
S
j cramer was very negative on JCP
said they were to troubled??
Hmmm
FCX and NUCOR were recommendations-buy
c
Hi C,
You should know by now,that i am not a fan or follower of Jimmy The Cramer's opinion....
By the way, i am making real money in JCP........& i intend to keep JCP for a while longer.....
Saleem
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