09
Oct

Wrap – Week Ended 10/08/10 (In Progress)

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Holdings Watch: One of the better weeks this year for the short term trading stuff. The long term portfolio ended near its record high as well.

So far in October we've been pretty tradey, and all of the activity has been in the ZIM (Zman Inefficient Market's portfolio) as this has not been that much of a catalyst driven market (The ZCAT remains 100% in cash). In fact, the ZIM which has been treading water through summer has nearly tripled in value since the start of October, from $4,400 on the 1st to $11,947 as of the Friday close. October, known for being a less than fun market month and the scale of this run have me keeping a close eye on my cash, now at 61% of total. 

Closed Options Trades This Past Week:

  • MMR – Sold the (20) October $17 calls for $1.21, up 25% to my average cost.
  • WLL – Sold the 4 WLL $95 calls for $5.80, up 70%.
  • WLL – Sold half of the WLL $100 calls for $2.35, up 57%.
  • WLL – Sold the remaining October $100 Calls for $3.20, up 151% to my cost basis in that set. I continue to hold the common shares in the ZLT.
  • WLL – Added (5) WLL October $100 calls back for $2.20 with the stock at $100.20 (the ones sold earlier for $3.20 with the stock at $102). Just doing a little trading with the name showing increased volatility and still not having fully discounted the recent news.
  • WLL – Sold the (5) WLL October $100 calls for $3.80, up 71%, on the mid and easily with the stock at 103.25. I continue to own the common in the ZLT and will have a refresher update out on the Bakken players next week.
  • MMR – Took the (15) October $18 calls off the table for just under $0.46, up 31%.
  • MMR – Sold all (10) the October MMR $17 Calls for $2.60, up 175%.
  • BEXP – Sold 33 of the 100 $22.50s taken two days ago for $0.15, up 156%, with the stock up on potential takeover rumors at $20.60. Done on the mid and quite easily. Time to play with house money. I continue to own the $20 strikes and the common in the ZLT.

Closed Stock Trades:

  • WLT – Out of the remaining piece of my only coal name at 81.83, up 18%. I plan to add it back on the next big market swoon.

The ZLT continues to do well through thick and thin of 2010

  • TBA

On to the wrap table...

17 Responses to “Wrap – Week Ended 10/08/10 (In Progress)”

  1. 1
    zman Says:

    Capping off a great week, MAZ (Intern #1) scored her first goal in Academy league play sealing a victory for the LRFC Spartans.  Snowconethirty. 

  2. 2
    ram Says:

    Congrats proud daddy.

  3. 3
    zman Says:

    Thanks, pretty happy about that.
    Something brewing near VZ, no idea direction but could be a storm today or tomorrow.
    No ecodata tomorrow as it's Columbus Day. The Feds are closed but equity markets are open.
    Oil inventory data will be out on Thursday, after the NG inventory data.

  4. 4
    zman Says:

    The wrap table was old, correct one loaded now.

  5. 5
    Jerome Blank Says:

    ATPG…some very interesting technical symmetry present in the ATPG charts… with any macro mkt strength next week, the small consolidation ascending triangle on the daily suggets a test of at least the 200 day SMA just below $15 which is also at the 50 period Weekly SMA, so I'm thinking the $15 area is going to be a magnet on strength…this might be helpful in looking at option strategies… longer term the weekly is suggesting a test of at least $22.50 which corresponds with the P&F Price objective at the same price….charts updated 
    http://stockcharts.com/def/servlet/Favorites.CServlet?obj=ID3724280

  6. 6
    choices Says:

    Prob few surprises here:
    http://www.businessinsider.com/states-need-bailout-2010-10#1-illinois-11
    thanks JB-voting now.

  7. 7
    choices Says:

    BOP-maybe a question for Monday-what's your take on this foreclosure "crisis?" I'm seeing  a lot of dire predictions that this could take a number of banks down-or in other words, here we go again-fraudulent docs or none at all=fraudulent foreclosures=surprise, endless legal action. (robo signatures, heh)
    Thanks.

  8. 8
    crysball Says:

    Z,
    Of  late    there has been a substantial  level  of intereest  in the  Single Digit Midgets  [CXPO, BSIC, SSN, KOG etc.] most of whic are not  covered  in  your small caps  section.
    Would  you  consier  opening a new  section on Single  Digit  Midgets with a focus  on more  of the catalyst driven aspects since some of the  more  conventional metrics may not apply?
    Would be glad  to  do the tracking on your behalf and  post  the results periodically.
    Note, while  I accept  your  caution  that  too much empahsiss  on Single Digit Midgets  can cause  indigestion……………….as  they tend to move  independedent  of  fundamentals  still think  they represent   a  a  separate category  which deserves  monitoring.
    Am sure  BOP  would add  some  'color'    like  ''DWARF  TOSSING  CONTEST's  etc.  to  keep   the tenor  of thediscussion on the highest intellectual level
    .

  9. 9
    crysball Says:

    Here  is a human interest  story  about   a Denver   'TOOL  PUSHER' 'which will warm the hearts  of all, and  make  all Americans  proud !
    http://news.yahoo.com/s/ap/20101009/ap_on_bi_ge/lt_chile_mine_collapse_americans

  10. 10
    crysball Says:

    Iran suspected of executing nuclear staffers over Stuxnet
     

     intelligence sources report information reaching the West in the past week that Iran has put to death a number of  atomic scientists and technicians suspected of helping plant the Stuxnet virus in its nuclear program. The admission by Ali Akbar Salehi, head of the Atomic Energy Organization, on Friday, Oct. 8 – the frankest yet by any Iranian official – that Western espionage had successfully penetrated its nuclear program is seen as bearing out those reports.
    It also attests to the damaging effect the malworm has had on the program: the Bushehr reactor has faced one delay after another since it was inaugurated in August and other nuclear plants are functioning only partially since the virus first surfaced last July.
    Salehi said the West had stepped up efforts "to establish contact with experts" at his agency and "lure them with promises of further study and better jobs abroad." Some nuclear personnel, he said, had access to information about Iran's plans for "foreign purchases and commercial affairs."
    He thus accused Iranian personnel of making it possible for Western agencies to use items purchased overseas as Stuxnet carriers. But, the Iranian nuclear chief contended, Iran had countered their efforts and security had been stepped up so as to make it "almost impossible" for secrets to leak out. "The issue of spies existed in the past, but is diminishing day by day," he said
    Salehi's words confirmed the forebodings of personnel at Iran's nuclear facilities. They had already suspected that a number of their colleagues taken away for questioning about the worm – and never since seen or heard of at work or at home – were no longer alive.
    debkafile adds: The extreme security measures clamped down on the program's employees have further slowed its progress. Nuclear scientists, engineers and technicians are no longer allowed to communicate freely on their work and exchange information before obtaining clearance from intelligence officials.
    The dark atmosphere pervading these workplaces has brought some of the nuclear facilities to a standstill.
    The Atomic Energy Organization has published booklets which Salehi said will "alert personnel to Western techniques for luring them into espionage." They "spell out precautionary measures to protect information and the life of scientists," he said.

    This phrase was taken by the personnel receiving the booklet as a death threat for any who defy its directives.
    sources find in Salehi's statement further evidence that Tehran is still fighting an uphill battle against the invasive worm and has not yet succeeded in bringing its nuclear facilities back to normal operation.

  11. 11
    mimster90 Says:

    Talisman Energy buys 97,00 ares in eagleford shale oil window for US$1.325 billion (~$11,000/acre)
    http://finance.yahoo.com/news/Talisman-Energy-Acquires-iw-181128827.html?x=0&.v=1

  12. 12
    zman Says:

    Thanks Crys, good idea, will get to work on it.

    Mimster – thank you.

  13. 13
    bill Says:

    chk getting 10,000 acre from cnooc  over 2 billion for 200 k acres

  14. 14
    zman Says:

    Thanks Bill … tomorrow should be interesting. 

  15. 15
    zman Says:

    ATPG – commences production at 2nd well at Telemark Hub. IP is "in excess of 7,000 BOEpd" vs guidance of 7 to 10,000 BOEpd. 

  16. 16
    BirdsofpreyRcool Says:

    ATPG — i think if they hadn't given "guidance" of 7-10k/day in expected production, 7k/d would sound mighty great.  As it is, at least it exceeded the low end of their window… so some people may be disappointed with that.  THAT SAID, 7k/d is enough to pay some bills and keep ATPG out of Debtor's Prison.  Something the SHORTS weren't betting on. 
     
    So, do the short cover now?  Or are they waiting for something else to breakdown (don't want to say "blow up"… that term is just too literal these days).

  17. 17
    zman Says:

    Monday post is up

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