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

To: Q8 who wrote (72571)	10/3/2006 11:55:28 AM
From: Tommaso	Respond to of 206323

Thanks, I will watch out for that. In your example, if you had 10 calls, your broker would buy you $25,000 worth of the stock and if the stock was only at $25.05 the commission would wipe out your $50 "profit" and then you would have a margin position that you might not really want. I assume that if you did not have the margin buying power to cover the trade, it wouldn't happen. It's not that big a problem for me since I never buy anything but LEAPS and have a long time to get out of any position. But I have allowed some positions to expire worthless when I chose to do so.

To: Q8 who wrote (72571)	10/3/2006 1:08:08 PM
From: elmatador	Respond to of 206323

OPEC president calls for oil cuts as prices tumble. Calls to make deeper output cuts on Tuesday as prices tumbled to an 8-month low below $59 a barrel and the tide showed no sign of turning OPEC president calls for oil cuts as prices tumble Tue Oct 3, 2006 12:35pm ET By Estelle Shirbon and Janet McBride ABUJA/LONDON (Reuters) - OPEC President Nigeria called on its fellow OPEC countries to make deeper output cuts on Tuesday as prices tumbled to an 8-month low below $59 a barrel and the tide showed no sign of turning. Nigeria and Venezuela have already made voluntary reductions to their production from October 1 but the cuts, representing less than one percent of OPEC supply, have failed to halt the steepest drop in oil prices in 15 years. Investors are focused on U.S. heating oil stocks at seven-year highs and the conspicuous silence of the world's biggest oil exporter Saudi Arabia. Only when Saudi Arabia says it is making cuts will the market sit up and take notice. "(Today's drop in the oil price) vindicates what Nigeria is doing and I hope other members will act in the same way," OPEC President Edmund Daukoru told Reuters in Abuja. "Nigeria wants to show a good example. We are simply doing what we think is right in light of the market," said Daukoru, who is also Nigerian Minister of State for Petroleum. He was speaking as U.S. oil tumbled to $58.84 a barrel, its lowest level since February 17 and a far cry from its mid-July record high of $78.40. The speed of the descent has alarmed OPEC, the group that pumps a third of the world's oil. Oil dragged down other commodities. Gold fell nearly three percent and copper was also down. Continued... © Reuters 2006. All Rights Reserved.