Thursday, August 18, 2011

The Stage Is Set...


I put in a new bid on CENX @ below my previous entry level of $9.43 since there are a whole bunch of unexpired puts at the $9 level that have the potential of getting hit before options expiry on 20 August 2011 depending on how fervent the bears become. Whilst we have unemployment claims and US GDP q/q next week, there will be several days with very little US data between now and Wednesday, 25 August 2011. If the bears are about to start using their Halloween scare tactics on anyone, now would be the time.

If my theory is correct, we may possibly be able to catch CENX again @ an even lower price than before even though they made a share buyback announcement last week.

If not, then I'm going to possibly consider a foray into BCS @ an entry level that is lower than its 52WL.

I lament my MS play and fear that we may see post-Lehman levels of $14 something on MS...


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