Holdings Watch: Here are this past week's closed trades:
- Petrohawk (HK) - Out the remaining April $20 calls, 100%, we sold the first half of this position last week, up 94%
- Halliburton (HAL) - Out of our remain April $37.50 calls, 181%, we sold the first half last week up 110%
- Devon (DVN) - Out of the April $105 calls, up 42%
- Nabors Industries (NBR) - Out half the NBR April $35 calls, up 116%
Jefco & JAG Notes Commenting That Rumors Are Swirling Of HK Takeout. I even hear there's a contest on who the acquiring company might be. Hmmm. Here's a Reuters story talking about the pick up in trading activity surrounding these rumors. Of course, the trick is to be thinking along these lines before the mainstream media gets a clue.
We've been a fan for quite some time and
in and out of the name on numerous occasions but adding to positions
since the company's analyst meeting on March 12th, even though the
analyst community was very ho-hum/sleepy during that meeting and only
sat up and took notice once Chesapeake Energy (CHK) said the Haynesville was the new
sliced bread of shale plays.
The Weekly Wrap - Rock Star of a week.
1) Equities Watch: In short, gas E&Ps have been the place to be. See the first red circle above and note the divergence of XNG - (gassy stocks) relative to the XOI - (oily) and the OIH - (oil service HOLDRs ETF). Thankfully, luckily, or skillfully, this has been our focus for quite some time.
2) & 3) Natural Gas Beginning To Retreat. In short, natural gas made a second top (double top?) for the season this week, driven higher at first by oil, then by momentum but softened as the week drew to a close after another in line to slightly smaller than expected storage withdrawal was record. Here's a link to Thursday night's gas storage and supply review.
Have a great rest of your weekend everyone!
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