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Friday, July 19, 2024

Weekly Wrap Up

Boy it was tough to hang in earlier today.

I called the turnaround at 11 but the market didn’t really move until late afternoon.

ELN – stopped out early today with a nice profit.

FRK – I thought that thing was never going to move but the $46.63 went from $3.70 to $4.9, a 30% move in a day! You have to look to take it off the table if you give up .35

Notice Oil shot up when the European Central Bank announced a rate hike (which will weaken the Dollar).

EBAY – Now that’s a fire!

CY – Calls actually were gotten for .35, such a bargain!

GE – I bought bought bought and I’m gonna hold hold hold for now.

GM – This is an outrage! Don’t they read my column? I need to look into this.

GG – April $17.50s dropped .20, I hate to lose but I’m pretty sure it was option driven, we’ll see on Monday

IMAX – was up a touch but I decided to cast a wider net and bought TWX instead. They might be getting a very big check next week!

PD – cannot be held down, it’s over $130 again…. Those $125’s from Monday were a clean double

WMT – Jan ’07 $45 leaps went from $7.25 to $7.80 so far. Patience is key here.

AIG – moving up nicely

YELL – made a big move today, far more to go

JNJ – today was an ex dividend day, so stock went down the amount of payment

DHI – those crazy kids just might be right, there is still a housing market! (not for TOL though)

BCRX – Dec 10s made out 20% and stopped out

TXN – sale did end on Weds as predicted!

HET – still going up

MSFT – I got in 30% today on pullback (that might be as back as it gets)

MOT – Called that on the money, up 7% since call (option up 20%)

GME – still a good play

Google spread play review:

Buy the March ’06 $450 call for $17 // Now at $19.20
Sell the January ’06 $470 for $5 // Now at $5.60
Buy the March ’06 $360 put for $14 // Now at $14.50

Isn’t that amazing, we could close the whole thing now and be ahead $2.10 on $26 invested on Wednesday morning. Now we are being a hedge fund!

We can sell the January puts but I still think there might be a nice downside surprise so I’m keeping that end open.

Hope you made some money!

Have a nice weekend,

– Phil

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