by Arnold Joe
Loading ...Economics:
Stock markets in North America have been taking a beating recently especially the oil and gas sector. Oil has dropped about $10 in 2 days and oil stocks have sold off to much lower levels than when oil was last back at this level. It’s not just oil and gas stocks that are selling […]
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 […]
Looks like I was wrong about BCE Inc options being mispriced as the stock did trade higher on Monday but the high was only $38.12 Cdn. I thought BCE would trade between $38-39 Cdn, but instead the trading range was closer much closer to $37. Since the Telecom sector isn’t something I’m familiar […]
Friday was an interesting day for BCE Inc (T-BCE, N-BCE) as the Supreme Court of Canada was scheduled to make a ruling either to allow the take over to proceed or to allow the bond holders appeal to succeed. BCE is the target of a friendly takeover at C$42.75. The ruling was scheduled […]
Shorting opportunities:
I’ve been looking for more shorting opportunities for a while but still haven’t found a really good candidate. Casinos, retail stores and restaurants is where I have been focusing my attention because as the recession in the US worsens, these sectors should get hammered. The problem with shorting these sectors is that the stocks […]
Sometimes it’s better to lucky than good
Last week I got lucky with my call options on BCE Inc. (T-BCE, N-BCE) as I sold my position, just before they expired on May 17th. With the options I had the choice to either sell the position and take profit or exercise the calls and take delivery of […]
