28
Sep

Weekly Wrap Public Post

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Comment of the Week: OUT DRYS. Taking the wife away for the weekend. Thanks to all. I couldn't have done it without you. ~ Comment from subscriber apb. Z Comment: makes my week to get comments like that!

Recently Closed Positions.

  • Bulk Shipping: (DRYS) - Out on half of my Oct $85s for $10; a nice 3 day gain of 72% from my Monday purchase at $5.80. I am not greedy:
  • while the fundamentals for the dry bulks (especially for the major bulks (coal, iron ore, and grains) of which (DRYS) is well positioned) appear to be exceedingly stout in the near and medium term ...
  • ...and (DRYS) is the cheap, big kid on the block, the industry is a little outside of my normal stomping grounds and as such I'll be covetous of quickly gotten gains. The stocks in this group are also exceedingly volatile so until I get comfortable trading the area, if ever, I'll be in and out from time to time.
  • Large Cap E&P: (APA) -  Out APA October $80 calls for $11.30. 3 weeks, 335%. Turned out to be a timely trade as Nicky kept calling for oil to falter, I said enough for me on these, and then crude decided to reverse in the afternoon, ending $2 below it's high on the day and turning a green energy screen almost uniformly red.
  • Deepwater Oil Service: (OII)  - Out Oct $75 CALLs at $3.50, up 108% in 11 days. I'll revisit this one on the long side in coming days.

Here's A Look At Positions Closed In September:

september-closed-positions-92807.jpg

Want To See What Else We're Up To? There's been changes in my thinking on refiners, some segments of service and even coal. There's lots more details inside the subscription site!  

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One Response to “Weekly Wrap Public Post”

  1. 1
    QUARRYMAN Says:

    Hey Z.,

    Had a great ride yesterday in the SNP. It was one of those extremely rare fall days when one could see a hundred miles clearly!

    If only we can have that sort of clarity during the trading week…

    Just a weekend reminder to do your promised read-up on WLT for me. This was first touted by Meryl Witmer for Moeller Water division and hidden value in coal division. Moeller was sold. But since her rec, the whole subprime thing reached stage center in the ‘theater of valuations’.

    So I just can’t decide if this WaLT idea is a ‘Cronkite’ with unheralded news, a ‘Disney’ visionary of boundless potential, or just a ‘Brenner’ that’s whiny, cranky, and long in the tooth!

    Enjoy your Sunday. and like Skynyrd says, “remember son, there’s someone above!”

    Q.

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