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Pioneer Energy Services Corp. Message Board

  • alsnipes39 alsnipes39 Jan 17, 2014 10:29 AM Flag


    No dividend; no return; why own it if it is stuck in a range?

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    • I bought and sold for a year. Sold and covered calls during that time.
      It was safer than some stocks. I traded maybe 2000-5000s many times. I also am able to watch daily ,therefore I could make a trade on movement quickly.
      I held 8000s long and used those to trade covered calls. I did too many times to cut and paste here. I would try if you want to see the trades.
      I will admit the latest calls are the $7.5 June strike. The shares are basically gone. I just need to wait for the expiration. I sold those for $1 each. $8000 safe for now ,all mine in June to pay real estate tax and some.
      If I leave money on the table due to passing the strike price I am still OK with that. When I made the trade That was considered. Just let it go and play another stock.
      I been playing TCK the past 6 weeks Timed it lucky and caught a $500 dividend two weeks ago. Bought and sold TCK twice in six weeks. also sold calls and covered twice. Made about $2000 doing so on only 1000s TCK . Sold TCK yesterday and plan to watch close. Want to hold it before the next dividend.

      I would love to explain better if interested. I am not bragging because I also made a terrible hold trade each of the last two years that eliminated 50 positive trades each year. That hurt, but I hope I learned from it.
      PES though I never lost after IMHO 35-40 trades or holds to trade calls the past 18 months at least. I did the same with GLW before switching to PES. Yesterday I bought 3000s AMD,@$3,70(LITTLE RISKY) I hope to play it a bit in the same manner if I get lucky. Also own and plan to sell calls on ERIC if the stock starts to move up some first.
      If the stock make a big quick move up I may just sell and wait for it to back off or find another.

      I only pay $7.95 at Schwab. All in an IRA account so no tax paper work to play with.

    • It all depends when you bought. I got in at 6.70 so the range has been good to me. With luck, a good earnings report, and a growing world economy, it breaks out and I'll be even happier. it's been near 10 within the last year plus oil services and exploration are on a lot of fund managers long lists this year. It is a cheap stock in a universe of expensive ones-which will give people a reason to look at owning stock in this space. on top of that, Deustche bank thinks it can hit $14.00-I say it's worth a shot!

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