| Stock P=Put C=Call | Purch. Date | Purch. Price per share | Friday Close 6/12/ 2008 | Net Gain/Loss Previous Week | Net Gain/Loss Week Ending |
| BAC 1/30s P | | 3.00 | 4.20 | 22% | 40% |
| XLK 1/25s C | | 1.70 | 1.40 | 12% | (-17.6) |
| TRLG 10/22.5s P | | 3.20 | 2.55 | (31%) | (-20%) |
| COF 1/50s P | | 8.10 | 10.70 | 17% | 32% |
| PQ 10/20s C | | 2.60 | 5.00 | 115% | 92% |
| NCC 10/10s C | | 1.30 | .10 | (96%) | (-96%) |
| NCC 10/8s P | | 1.55 | 3.10 | 106% | 106% |
| BAC 1/27.50s P | | 3.15 | 3.05 | N/A | (-3%) |
| COF 1/40s P | | 6.00 | 5.52 | N/A | (-8%) |
BAC gained 18% from last week’s close. BAC experienced considerable pressure as the financials were shaken by more bad news on LEH and to a lesser extent KEY. Note that this position was increased on
XLK took on a bit of water this week moving from a winner to a loser…as the Yahoo MSFT merger fell through. Look for a rebound next week.
TRLG moved 11% points closer to the break even point. While I am still down 20% on this one, the fundamentals are still there to see this stock retrace its move up with a move down.
COF increased 15% from last week’s position. This one was also up close to 45% at one time, but backed off with positive retail news, Greenspan’s comments, and the short-lived hope of a recovery in the dollar. I increased my position on this one as well.
PQ was dropped 23%…this one was on a roller coaster ride. Should the energy sector become a “hot area” again, it may be time to take profits. While G8 is calling for increased oil output, the oil is still priced in dollars...and as of late a dollar isn't worth a dollar anymore. Good volatility here!!!
NCC unchanged. I will look to liquidate this position on more bad news from the bank. However, I will hold on to the calls in hope of a buyout…wishful thinking here.
Tracking Thomas Lee
JP Morgan's Thomas Lee tauted three sectors last Friday indicating that each should finish the year in positive territory. From a pure statistical point of view, he was off to a god start. A week of huge volatility ended in his favor. Interestingly enough, it is prudent to point out the fact that NONE of the selections finished higher than a six-tenths of a percent gain. So from my point of view, congratulations are in order, however I'm much more comfortable playing the market my way. I will continue to track MISTA LEE.
| Stock | Date Recommended | Purchase Price | Price as of | Net Gain/Loss |
| | 23.33 | 23.38 | 0.2 % | |
| | 31.26 | 31.72 | .01% | |
| | 86.02 | 86.60 | .06% |
1 comment:
TC, you are in the enviable position of having to decide whether to take excellent gains in some position offset by losses in a few others. PQ has already been a homer, now do you play for the grandslam? I worry for you with TRLG, but past volatility has been tremendous....BAC still might have a way to fall, expecially if CFC officially goes bankrupt. Good luck!
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