Big Dog's Boom Boom Room Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Big Dog's Boom Boom Room

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: jils who wrote (67934)	7/24/2006 11:12:59 AM
From: ChanceIs	of 206355

>>>as of today I am in full bear market fatigues regarding the OIH and related cos....<<< The charts do not look bullish - an understatement to be sure. Full bear market fatigues??? Nah?? I was short in Jan on the weather, and cautiously reentered on the long side in April - to my detriment, but it was only a small position. I think that we are pretty close to the bottom. The great OSX meltdown of 2001 only lasted about 6-7 months - it rebottomed in Oct '02 on the general market malaise. General market malaise would not surprise me here. Having said that, I sold Aug $22.50 calls for $1.70 against my PTEN after the bounce this AM. The earnings should be great, but I figure they are baked in already. If BTU is any indication, PTEN could be sold on the earnings. PTEN floor of $20 looks very solid. I obviously didn't hedge down that far. I think that $25 has become overhead. If we get that high I will wipe out the covered position, and potentially short - looking for a drop down to $22.50 or $20. It is real hard to ignore the fact that PTEN is pushing against the April '05 low of $22.38.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next