Crack spreads are very low right now and inventories are still over normal historical levels. It is a #$%$ shoot right now with refiners.
Selling shorter term covered calls would probably result in assignment if the rally continues. It was just reported that someone just bought 15 million dollars on out of the money calls on GLD. If you are extremely bullish you could sell covered puts (which could get assigned if the rally fails)
Stop loss orders are for traders that don't have time to watch their positions. Most stop loss orders get taken out by the market maker, even stocks that are performing well. I have done well with puts in the past but this situation is a bit different with a chart that is almost vertical. I am not expecting this stock to tank but a correction in silver/gold is inevitable which would reward put holders.
Which Yahoo board do you follow that has insider information and brilliant financial analysts participating? I expect nothing and most of the time I receive nothing from the message boards. That being said I followed the Claude message boards and found them to be $50 thousand dollars enlightening. There are some very knowledgeable people on this board that have a keen insight into the silver and gold mining industry.
I am considering buying some Jan 17 puts to cover the sizeable gains I have from the Claude buyout. Anybody else considering this? Obviously this stock is rocking right now so I am thinking about doing this further down the road after additional gains.
Not hardly. They would shutter the refinery before they would write off 200 million dollars on a brand new refinery.
I doubled down at $3.60. Maybe that was a mistake. Maybe it wasn't. My plan was to buy the shares and sell the original investment for a loss. Now I am thinking about waiting to see what happens with earnings this quarter.
I noticed that some of the juniors were hard hit yesterday. I still there were some short term buyers that were looking for another bidder. Today does not look too good either.
I am sure that the Obama administration would love to see oil and gas be crippled. The Saudis are bleeding huge amounts of money right now with the low oil prices. I'm not sure they saw this coming either. Pretty funny about coal though.. the Chinese are burning coal like crazy (and it is real cheap now) and the emissions just float in the air across the ocean. Aren't the Americans clever in controlling greenhouse gas.
Big hit for them today. The market did not seem to like the news that shareholders had accepted the merger.