Wednesday
May172006
Stocks on Sale: Neubie Goes Shopping!
May 17, 2006 at 4:00 PM
With the market down so much in the last 5 trading days and after sitting on my hands, I finally got out and went shopping. I was looking for more of my list of stocks that I like for the coming inflation. What else had I been keeping all that cash on the sidelines for anyway?
Today's Shopping list:
STOCKS:
AAUK - Anglo American PLC ADR: added a bit to bring my position in this UK global mining conglomerate to full.
GG - GoldCorp: been avoiding this high flyer but gold wasn't even down today and the stock sill got killed. Bought this for a trade. (stock market has a different view of inflation than the gold market does)
MSFT Microsoft Calls (Bought to close 27 strike calls written against position) - I'll be able to re-write these at a better price later. Though it may take a while since MSFT is so widely held.
MSFT Microsoft Calls (Bought to open 22.5 strike calls): I'm at a full position in MSFT so I will only buy calls as part of my speculation.
PFE - Pfizer: just so cheap. And I've been trading this in a range I like.
TIP - Ishares US Treasury Inflation Index Fund: I had some TBills mature. Getting CPI (which includes food and energy) + 2.5%. (that's a yield of 6% now) At some point there will be a panic into inflation indexed securities in the meantime, I'll take 6% and pay no state income taxes on US Treasury interest. Yeah, I talk about this one all the time.
TNP - Tsakos Energy Navigation: Added to small position. Can you say P/E of FIVE? I can. Someone is going to buy this company - it might be the controlling family in Greece or it might be the company itself. In the meantime, I'll collect my dividend.
PG - Procter and Gamble. Been trading this in a range like crazy. It doesn't hurt that I still have some 55 strike puts that expire Friday on this one. I am betting on the bounce.
YHOO - Yahoo: There is a boom going on in internet advertising and eyeballs. Yahoo is one of the winners. Stock keeps getting cheaper thanks to Google fanatics and the NASDAQ Market. I think this stock is a multi year play.
COMMODITY TRADE
Bought Natural Gas Futures. Summer is coming. The weather is cool now but when people fire up those air conditioners, the utilities have to fire up the expensive gas fired generators to meet that excess demand. That always drives up gas.
CURRENCY TRADE
Covered 50% of my long British Pound/Short Euro position. It's moved my way and I'm happy to lock in a little profit. I got in the position based on an interest rate differentials and it was at the edge of a long term range. Now it's blown through the other end of the range and I'm not too arrogant to think I understand why.
Stocks I still on my wishlist: OIL OIL OIL ENERGY:
CVX - Chevron: I'm already at max exposure for this one. I'm looking for other cheap oil companies.
COP - Conoco: The cheapest of the integrated oil companies. I'm not yet at full position in this one.
BP - BP (they don't call themselves British Petroleum anymore - part of their green image) Might want to add a bit to my position in this one too.
Disclaimer: I own a position in every stock mentioned above.
Nothing mentioned in this blog is meant as trading advice. It is simply a partial list of my trades that I believe others might find interesting. You should consult a financial advisor or do your own research before engaging in any financial markets activity on your own.
I'm off to the Nevada desert for some gambling and camping. I'll be back on Tuesday. I look forward to your comments.
Today's Shopping list:
STOCKS:
AAUK - Anglo American PLC ADR: added a bit to bring my position in this UK global mining conglomerate to full.
GG - GoldCorp: been avoiding this high flyer but gold wasn't even down today and the stock sill got killed. Bought this for a trade. (stock market has a different view of inflation than the gold market does)
MSFT Microsoft Calls (Bought to close 27 strike calls written against position) - I'll be able to re-write these at a better price later. Though it may take a while since MSFT is so widely held.
MSFT Microsoft Calls (Bought to open 22.5 strike calls): I'm at a full position in MSFT so I will only buy calls as part of my speculation.
PFE - Pfizer: just so cheap. And I've been trading this in a range I like.
TIP - Ishares US Treasury Inflation Index Fund: I had some TBills mature. Getting CPI (which includes food and energy) + 2.5%. (that's a yield of 6% now) At some point there will be a panic into inflation indexed securities in the meantime, I'll take 6% and pay no state income taxes on US Treasury interest. Yeah, I talk about this one all the time.
TNP - Tsakos Energy Navigation: Added to small position. Can you say P/E of FIVE? I can. Someone is going to buy this company - it might be the controlling family in Greece or it might be the company itself. In the meantime, I'll collect my dividend.
PG - Procter and Gamble. Been trading this in a range like crazy. It doesn't hurt that I still have some 55 strike puts that expire Friday on this one. I am betting on the bounce.
YHOO - Yahoo: There is a boom going on in internet advertising and eyeballs. Yahoo is one of the winners. Stock keeps getting cheaper thanks to Google fanatics and the NASDAQ Market. I think this stock is a multi year play.
COMMODITY TRADE
Bought Natural Gas Futures. Summer is coming. The weather is cool now but when people fire up those air conditioners, the utilities have to fire up the expensive gas fired generators to meet that excess demand. That always drives up gas.
CURRENCY TRADE
Covered 50% of my long British Pound/Short Euro position. It's moved my way and I'm happy to lock in a little profit. I got in the position based on an interest rate differentials and it was at the edge of a long term range. Now it's blown through the other end of the range and I'm not too arrogant to think I understand why.
Stocks I still on my wishlist: OIL OIL OIL ENERGY:
CVX - Chevron: I'm already at max exposure for this one. I'm looking for other cheap oil companies.
COP - Conoco: The cheapest of the integrated oil companies. I'm not yet at full position in this one.
BP - BP (they don't call themselves British Petroleum anymore - part of their green image) Might want to add a bit to my position in this one too.
Disclaimer: I own a position in every stock mentioned above.
Nothing mentioned in this blog is meant as trading advice. It is simply a partial list of my trades that I believe others might find interesting. You should consult a financial advisor or do your own research before engaging in any financial markets activity on your own.
I'm off to the Nevada desert for some gambling and camping. I'll be back on Tuesday. I look forward to your comments.
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