This Ballard is a real bear-cat to trade. For no reason I could discern it decided to rally $10 today against a falling market. I'm beginning to think I'm not good enough to trade something this hairy, or else I'm too old and have gotten the 'yips'. Maybe they'll split this puppy and get a little more liquidity. I sure hope so. Some April call vols are over 80, with fresh buyers showing up every time it goes up. Go figure.
Bell sure has been a good trader the past few weeks. After its $5 rally last week, it has filled only slightly, with good buying and selling in the options right across the board. It sure is a pleasure to see two-way trading. This is the way it's supposed to be. Vols look pretty solid. (24,25)
ABX had over a $1 range today, firming up off the lows near the close. It will be interesting to see if gold can hold above $300; if it does, I expect Barrick to work back higher. ABX keeps getting mentioned in the Bre-X trial--not positively. The real question in my mind is this: when the ABX people discovered BXM had no gold, how much money did they make buying puts and shorting the stock? Oh, yeh, I forgot--that would be illegal. (Like that stops anybody!) (44,41)
Quarter-ending window dressing tomorrow. Keep a close eye on prices in the last 60 seconds...always interesting, to say the least.
Hi ole 49r, good to know you're still keeping an eye on us.
Happy trading.
Porter |
