TB> you be da man!
> AA. What's the word ?
obviously a great play, Berney! You got the phleet into the finest of the CYC.X and XLBasic material stox just when that group and its sectors got a big breeze of fundie money, that's for sure (^_^)
Alcoa, well you got really good, GE-quality management & consistent earnings F/A record to begin with, right? On top of that, prices of light metals goin' up because they're taking big chunks of capacity off-line, reducing supply = "pricing power" ~ yet still making money on their idled capacity by selling the allocated energy at a tidy profit. They're not so dependent upon the sickly automotive sector as say, steel ~ most of the extruded alloys go into building products, which should be stimulated by lower mortgage rates ~ and most of the rolled products goin' into beverage containers, a fairly boring albeit steady consumer biz.
I completely missed the move, Berney; I did not think ~35 was an entry point ~ but then, everybody knows I'm a lousy momentum trader {grin} otoh, AA is the cyclical stock in my background CORE ;-)
fwiw, Gonzo's CORE stox :
GE - conglomerate
C - banks
AIG - insurance
GS + SCH ~ brokers {ie., one position}
ENE - utilities
SLB - oil-equip
AA - cyclicals
PFE - pharmas
AMGN - biotech
WMT - retail
AOL - media
SNE - electronics
MSFT - software
SUNW - computers
CSCO - networking
ALA - tel-equip
NOK - cel-equip
TXN - semis-DSP
INTC - semis-CPU
AMAT - semi-equip
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intermediate, I'm still sitting on a 1500s QQQ basis covered by 15 short FEB63C @ 7-3/8; I sold these calls on OPEN Friday, 19-JAN; have done nothing since.
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short-term tradin' ~ I been playing with in-the-money March CALLs day-trades of XOM=XOI.X and PPH=DRG.X ~ two things I've learned this week are: (1) mind, the PPH options are illiquid; and, (2) there appears to be an Old Boys Club that hangs around XOM stock/options similar to IBM... on Monday, 29-JAN I made a really newbie mistake {grin} Having bought 50 XOM MAR80C @ MKT=3.2 ASK, I entered an order to sell all 50 near the close @ MKT = 3.7 BID... whereupon I swear they abruptly dropped the price of XOM by 1/2 bone and executed my order at 3.4 just to send Gonzo a "Hello, Newbie! use a LIMIT ORDER, stupid!" greeting card :-)
Happy Trading, Dude!
-Steve |
