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  • The Baltic Dry Index As a Growth Indicator [View article]
    It's a good time to buy shippers. EXM, DRYS, TBSI.
    Oct 16 18:37 pm |Rating: 0 0 |Link to Comment
  • Oil May Trade in the $80-100 Range for a While [View article]
    Nice post. Of course, geopolitical events could take oil much higher in the interim.
    Sep 17 21:03 pm |Rating: 0 -1 |Link to Comment
  • Do Oil and the Market Still Have a Lot of Downside? [View article]
    Nice article, Jim. I hope RIG gets to $100! I also like CHK but like you, I believe nat gas has more downside.
    Jul 29 20:16 pm |Rating: 0 0 |Link to Comment
  • Options Trader: Wednesday Outlook [View article]
    Philip,

    On May 28, you recommended buying BAC leaps at $4.70.

    "This is good timing for Bank of America (BAC) [another one of our LTP holdings], who are exercising $1.9Bn worth of calls to up their stake in China Construction Bank (CICHF.PK) to 10.75% from 8.2% in China’s second largest bank. BAC’s original $3Bn investment in June 2005 is now worth about $30Bn. The 2010 $35 calls are just $4.70 and make a fantastic long-term investment."

    Those same leaps are selling for $1.34 today. That's a 75% loss in 1 month. I don't think anyone could have predicted how bad June was going to be, but I'm curious how you would handle such value erosion in long term calls that you've bought, e.g. sell, hold, average down, if your reason for buying has not changed. Thanks. I enjoy reading your posts.

    BD
    Jul 02 18:56 pm |Rating: 0 0 |Link to Comment
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