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Gold/Mining/Energy : Big Dog's Boom Boom Room -- Ignore unavailable to you. Want to Upgrade?

To: lonesomemoose1 who wrote (44572)	6/18/2005 12:56:28 PM
From: Umunhum	Read Replies (2) \| Respond to of 206085

The E&P companies hitting new 52 week highs this week included XLE, OXY, MRO, APA, APC, BR, CNQ, ECA, NXY, SU, CHK, COP. It's just a matter of time until CVX, XOM, DVN, and BP join them. I've been keeping my eye on these charts and I still like what I see: Dec '08: futuresource.com Dec '09: futuresource.com Dec '10: futuresource.com What ever happened to Big Dog's Motto "Its the price of oil?" Don Coxe was once again pounding the drum on how the Ghawar has peaked and based on the Saudis inability to bring on anymore sweet crude, I have to agree with him. I am about 100 pages into Matt Simmons new book. I have been busy trying to find an acceptable place to move to that doesn't have state taxes before July 1st so I can claim residency in a place that wont tax away all my gains. I couldn't find an acceptable place in Florida, so I am in the process of moving to Reno. Keeping up on trading, moving, reading Matt Simmons new book, and all the presentations at the latest ASPO meeting has kept me busy. Buy the producers People! They are going to keep going up. "It's different this time!". There is no doubt that the 2nd largest producing field in the world is dying: home.entouch.net Soon you will be reading the same thing about the Ghawar. Here are the presentations for the latest ASPO conference in case you missed them. Read these and you will get 10 foot tall and bullet proof: cge.uevora.pt The presentation that explained how energy not paper money is true wealth was kind of interesting. umuhnum-thanks...those Jan'08 LEAPs look pretty steep to my untrained eye except perhaps BP. Would you share a favorite or two after you've loaded up? This is what I own now: 120 CVX Jan '07 strike price $60 65 CVX Jan '07 strike price $55 50 XLE Jan '07 strike price $40 20 XLE Jan '07 strike price $44 50 COP Jan '07 strike price $55 20 SU Jan '07 strike price $35 I also own: 5000 shares of CHK 2000 shares of CNQ 4000 shares of ECA 6000 shares of NXY 3000 shares of SU 3000 shares of XLE Right now I control options on 32,500 shares and stock of 23,000 shares. I would ultimately like to control 100,000 shares of the producers but I am on margin about $280,000 right now so I am taking it slow and trying to buy 20-30 options per week. My latest buys were 15 CVX Jan '07 strike $55 for $8.6 and 50 COP Jan '07 strike $55 for $8. I haven't bought any '08 options yet because they seem pricy compared to '07. I am going to flip my '07s for '08s sometime next year. I am hoping that they will get so deep in the money by that time so the premiums will go down significantly. I am still kicking myself for not buying the DVN Jan '07 strike $40 for $4 back in January. My gut was telling me they were way too cheap. I wish that I had bought 200 of them. Oh well. I really want to buy options on APA, APC, DVN, BR, and OXY but they seem pricy and they are getting more pricy everyday. A year from now I know that I'm am going to look back and wish that I had bought everything I could get my hands on. My favorite stock is still NXY with a minimum target price of $50 by Jan '07. I also like CNQ and SU. I should probably buy some COS-UN but they don't offer options. I have had no game plan in getting where I am today. If I like a chart on a company, I'll buy a few thousands shares. If it goes up, I give it a little rope and next thing you know I'm where I am today. I would like to buy some leaps on the coal companies but they are more expensive than the oil companies. It's too bad CCJ doesn't offer leaps because that would be a no brainer. Anybody else out there buying leaps?