Just a little break down of how I have been liquidating the portfolio recently...
06-06-08 09:54 AM
Liquidation mode in the oil exploration sector......Stocks I'm thinning down right now........No need to be a pig on this move over the last few days.......What a run since March.......
WLL, WTI, SD, PQ, HK, PVA, MMR, GDP, GEOI, GMXR, FST, XCO, EAC, CLR, CRK, CWEI, CHK, COG, PVX, PWE, NXY, HTE, ERF, ECA, CMZ, BTE, AAV, SJT, SBR, PBT, HGT, CRT, BPT
$COSTAverageMAN
06-17-08 11:24 AM
Option expiration week and I waited a long time, but I just cut my remaining Fertilizer/Ag stocks down to 50% levels of where they were.......
IPI, POT, CF, AGU, FMC, MON, SYT, MOS, WLT, TRA
Coal got a good trimming as well today.....
PCX, ANR, FDG, CLF, BTU, ACI, JRCC, FCL, MEE, CNX, ICO
Just calling my short term top here....They have been one hell of a straight ride up..
$COSTAverageMAN
OK..so to todays selling... I was a little early on the exploration names, but I didn't fully liquidate the rest until todays open....(Had about 35% of each position left roughly)..
To the coal and Ag names: These things are all a straight up liquidate in my eyes today off the open (THANK YOU----[ACI] Today 07:58am
Arch Coal Inc Reaffirms FY08 EPS forecast issued 4/21 of EPS $2.40-2.80 v $2.66e - slide presentation- Reaffirms FY08 capital spending $310-340M and MORGAN STANLEY and JP MORGAN FOR MAKING THEM SO STRONG WITH THOSE RECENT UPGRADES TO SELL INTO THIS MORNING)....Seriously, if these guys are upgrading up here I am Selling......I can think of 100 reasons why to own coal stocks, but not at these prices!!!!!
http://biz.yahoo.com/ap/080618/sector_wrap_coal_producers.html?.v=1
Most position are cut to below 15% of initial purchasing levels and some are completely cut from the portfolio......
So to a new area in the SELL BLOCK...Oil Drillers and Oil Services
US Oil Services sector raised to "Attractive" from Neutral" at Goldman Sachs
So the list is as follows: from best performers to worst..(DRILLERS)...PKD, HP, UDRL, PTEN, UNT, NBR, HERO, PDS
So the list is as follows (Alphabetically) (Oil Services)..BAS, BHI, CAM, CFK, CRR, CLB, CPX, DRC, DRQ, DVR, FTI, FTK, GIFI, GLF, GTLS, HAL, HLX, HOS, IO, KEG, LAYN, LUFK, NGS, NOV, OII, OYOG, SII, SLB, SPN, SWSI, TESO, TTES, TTI, WEL, WFT, WG
Well for as many good calls this journal has had, bad ones are sure to occur all the time.....I like to think that the calls I make here are for a risk adverse type investor/swing trader!!!!
So to the worst call this journal has ever seen!!!!!!!!
You know when looking back at HUN (Huntsman)....Yesterday, I knew it was too good to be true......and of course one year of arbitrage goes on without me and the first day I try to play along/(enter the position) "Whack" some after hour news trashes the stock.....(I was asleep during the after hours massacre)......
So If you know my name you probably know how I dealt with this situation today.....Lets just say the position is a little larger and my cost is in the mid 13's...Had a good trade with it during the early hours today and It came right back down to 12.30's to re-enter.....All in All I am very happy with how I dealt with the 40% drumming the stock took....
Demand Destruction in Petrol Products is inevitable in this fragile world economy at these levels and these have all been momentum names...Oil may go to 150/200 a barrel, but will that even move these names higher as the indexes slide much lower.....It's been hard to find winners in other sectors and keep them for more than a month or two....So today I was happy bringing these position below 20% of original levels.....AND LOCKING IN THOSE GAINS!!!!!!!!!!!
I might just swing the indexes around with this cash until things shape up....Some of the names in the $BKX offered some nice moves today down here.....(always looking to catch a knife or two)...Heck even the Airlines can be traded properly if oil keeps dropping!!! And the weakness in grains gave TSN and CALM a nice pivot reversal...
WAB and TWIN look to have broken to recent highs on a side note...
Some other tech names with momentum behind them (That I'm Currently in): LLNW, FFIV, EQIX, APH, CTV
Some other ways to play our energy problems (THE GRID Suppliers)....ENOC, SATC, AMSC, CPST, CHP, ENS, POWL, BEZ, WIRE, MTZ, JST, PEC, AZZ (I own the names Jeffrey Gendell owns and a few others, but this area may still have legs to run)
If you read this far I hope you enjoy the charts....Well CASH IS KING!!!!...(Simply put: You can do things with it)
$COSTAverageMAN
