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
Hey Saleem et al,
ReplyDeleteI 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,
ReplyDeleteWho 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
ReplyDeleteChristmass 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,
ReplyDeleteLooks like we all may have better Christmas...hopefully greece will be resolved SOON.....
Saleem
S
ReplyDeletej cramer was very negative on JCP
said they were to troubled??
Hmmm
FCX and NUCOR were recommendations-buy
c
Hi C,
ReplyDeleteYou 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