by Arnold Joe
Loading ...Oil hit another high of $145 today and oil stocks were down again but the US stock markets (Dow and S&P) were both up. This doesn’t make any sense to me as obviously the oil stocks should be going up (not continuously down) when oil continues to hit record highs. I’m expecting that when companies […]
I’ve done a number of trades (see below) in the last few days, as a result of all the trades, my exposure to the oil patch is only the call options on Nexen Inc, as I sold heavily overweighted positions in Petro-Canada positions as well as my Nexen stock positions for gains.
If you’ve been following […]
Stock portfolio change
I sold my Toll Brothers (N-TOL; homebuilder) $30 puts for $10.20 (purchase price was $9.70 for a 5% return) and replaced them with Toll Brother $22.50 puts for $3.00. Selling the more expensive puts allowed me to take $7.20 of cash out of the market so instead of risking $10.20, my risk […]
Should North American investors be investing based on an economic environment that is recessionary or inflationary?
As mentioned previously, the US economy seems to be in a bull market as bad news (such as housing or employment stats) results in rising stock markets. If the market responds to bad news by pushing up the stock […]
There’s lots of talk about what Helicopter Ben Bernanke and the FOMC will decide to do with short term interest rates next week. Apparently the market is no longer pricing in a 50 basis point cut in rates with some economists expecting only 25 or even no rate cuts. My feeling is that Helicopter Ben […]
Canadian retail sales decreased 0.7% in Feb, still up 5.7% y/y. This is another sign that Canada could be heading for a rough patch and might be an indication of the more conservative nature of Canadians compared to Americans when it comes to spending.
Commodities:
Weekly oil inventories (all grades) showed a drop of […]
Interest Rates:
Bank of Canada did as expected and cut interest rates by 0.50% Analysts are still expecting at least another 25 point cut at the next meeting.
Commodities:
Crude oil was up again setting another record high at $119 a barrel. China reported that Angola overtook Saudi Arabia as the top supplier of oil in the […]
