YEEHAW CANDIDATES Message Board

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Strategies & Market Trends : YEEHAW CANDIDATES

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To: Galirayo who wrote (12975)	10/28/2005 8:01:02 PM
From: Gulo	Read Replies (2) of 23958

ECA and most of the oils bounced a bit today after a bad morning and yesterday afternoon. I saw COP behaving a bit stronger yesterday morning, so I went long Nov 60 calls. I made back today what I lost yesterday afternoon, and it looks good for next week. I'm shying way from ECA (except for a few cdn calls) for a while because it still seems to be suffering from speculator disappointment & uncertainty over the bursting of the take-over rumour. I think the oils as a whole are a bit oversold, especially when a $60 stock like COP has $2.68 EPS (from continuing ops) in the last quarter. I'll take a PE of 6 in a strong oil market as a reasonable bet. -g

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