Okay Bob,
My pick will be Nortel calls (NT:NYSE) (NTL:TSE), I will be the first to say it's a big over priced pig but nothing's stopping it. The $130 calls (on the TSE) were about $1.45 CND June 30 and July 2nd they were about $5.00. Today they are about $4.00. BTW, this is how I lost my shorts, socks and wallet. I had puts and the TSE was closed for July 1st, Canada day. It took off in the US and I couldn't get out. When it opened here it had gone from $124 CND to $131. I had been playing puts/calls on it and doing okay up until that point. I had a bad feeling that this could happen but thought 'Hey, it hasn't broken $90 US yet so what are the odds of a crazy thing like that happening the one day the TSE is closed?' well, turned out the odds were pretty damned high!! play with fire and...
So, it went to about $95 and has since hit about $97. I'm dealing on the Canadian side so I haven't checked out the US puts/calls too closely although I have noticed the US puts are not selling much.
Paul, ECO got hammered again today, 60,000 traded and hit it's 52 wk low today of 7.10, closed at 7.15 CND. Doesn't look good. Ever since Bre-X pretty much all Canadian mining stocks have been about as popular as ants in your shorts.
Randy |
