Nothing like a teen-age girl to get things hopping.
I realise I haven't posted for a while, but my 15-year old daughter came back from Calgary, where she's training, for a two-week visit. I'd forgotten what it's like to have a houseful of kids, all wanting a ride somewhere, or needing a lift to the rink, and always with a hand out. Did make me realise how much I miss her, though.
Anyway, this is supposed to be about options, so...great trading again today in BCE. Even if it doesn't go through, the proposed merger between SBC and Ameritech has put a new valuation on the worth of having a wire going into houses. Funny, I was just studying Bell's chart last Friday, thinking the stock needed a rest. Glad I didn't short too much until today. The good thing is people have different ideas about Bell, and the options are in play. (25,25.5)
Barrick just would not sell off this morning, even with bullion down. I guess the fund boys have decided to re-balance a normal weighting in gold stocks, and the money just keeps pouring in. They've got more money than I do, so I'm not going to spit into the wind. (40,40)
Ballard opened weak, down $4.75, tried to rally back, but ran into selling and closed back down near the low. I have absolutely no idea what this stock is worth, but it sure does move around. Retail is again starting to sell premium, taking the implied vol well under what I think it's worth, but I'm not too aggressive buying it, because being long premium and wrong at these levels can sure get expensive. (60,62)
I'm not going to bash Fleming and his flock tonight--not that they don't deserve it, but I'm in a good mood and I don't want to spoil it by thinking about those clowns right now.
Happy trading.
Porter |
