by Arnold Joe
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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 […]
Nexen Inc (T-NXY, N-NXY; oil and gas producer) shares were down over $2.00 yesterday on no news when oil prices were actually up. The sell off continued today after the US reported a draw down in crude oil inventories sending the price of crude down over $4.00 a barrel before recovering to $134 a […]
Recap:
The TSX was up 55 and the Dow Jones was down 23 after another big bank (Wachovia) reported a quarterly loss and cut its dividend. It’ll be interesting to see how many more write-offs are coming and how many banks report lower earnings or even losses. I expect there will be many more.
Economics:
Retail sales in […]
Recap:
The Dow Jones and TSX were both down 256 and 226 points on Friday respectively probably the result of General Electric posting lower profits q/q and also lowering guidance for the year. This comes only a short time after the company had affirmed guidance in March. Markets are nervous because of the implications that weakness […]
