Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Tommaso who wrote (45707)	7/12/2005 10:05:35 PM
From: Umunhum	Read Replies (1) \| Respond to of 206338

You must be doing pretty well! I've been doing pretty good. My move to Reno has been a nightmare but now that I'm finally settled, I am getting a bit more relaxed. I bought some more options yesterday. I sold 35 September XLE Strike 50 puts for 4.1 for $14,500. I used the money to buy 20 XLE Jan '07 Strike 45 calls for $13,800. I don't like taking the downside risk of 3,500 for the upside of only 2,000 shares but I firmly believe that oil will be above $70 by Q4 so we still have a long way to go on the upside on the oil stocks. If the September puts don't expire worthless, I'll flip them for December's and continue to do this until they expire worthless. So basically this will take up some of my margin buying power for some free options. I'm up over 15K on my last go round: Message 21361594 I recently bought some more Jan '07 CVX strike $55 for 7.2. I believe that these options are the best value right now. I already own 200 calls on CVX so I'm hesitant to keep adding to my position but if I didn't own any options this is the first options I would buy today. Overall I still have 21 oil future contracts ('06, '08, '09), 360 options on various producers, and 24,000 shares of various companies. I am controlling 60 thousand shares and ultimately want to control 100 thousand shares. I wish that I bought a lot more of everything. This is as close to a no-brainer as we will ever have. The Homeowner association President in the complex that I live in is a Geologist. Apparently he is president of a mining association here in Nevada. After finding out that he was a geologist, I wanted to pick his brain about peak oil and he had never heard of it or of Marion King Hubbert. He brought up the Oil sands, Hydrogen and Methane Hydrates as a potential source of energy supply. I bet less than 1% of the people out there have a clue about of peak oil. BUY ALL THE OIL STOCKS YOU CAN PEOPLE! WE ARE ONLY IN THE THIRD INNING. I have been day trading APC for grins. Everytime the 10 minute MACD goes positive on the $XOI I'll pick up one to two thousand shares of APC. I think APC will easily break 100 before the year end and wouldn't be surprised to see it above 120.