Technical notes:
VIX at 33.98, Rydex Ursa spikes to mid-40's, put call at .71 on Friday, big four week swing in investor intelligence sentiment numbers.
schaeffersresearch.com
schaeffersresearch.com
stockcharts.com[L,A]DACLNNMY[P][I]
Conclusion: Be careful out there now. I've taken a third of my position of the table, mostly on Friday. Also have taken advantage of the large call premiums in names like NVDA, CIEN, CRUS, EMC, GMH, SEBL, BEAS, TIBX, VRSN, ISIS to write calls. Couple small bearish hedges in place as of Friday: bought in the money Dec. puts on CCR and DE. Will sell into more strength and add shorts next week if rally carries.
Perfect storm developing in natural gas/energy. A normal winter will be a disaster for the economy. Superb research report from Raymond James: focus on pages 40-69, see stock list on 24-26. My holdings are ECA, RD, BR, MRO, PEL.to, and PBR. Doing a little more work on the RJ list now. Tend to agree with their OSX (drillers) evaluation. Think drilling activity has (and will) reacted slower than molasses.
170.12.99.3
Kurt Wulff does good work also:
mcdep.com |
