If the market can hang in there, I think we'll see a broad rally among the commodities especially crude oil. I have been speculating with the double leveraged ETF UCO to capture a nice gain in the last 2 days. I purchased some call contracts back for the July 7.50 on UCO for $170 per contract yesterday, and could have flipped them today for about $245. Not a bad gain in a day but I did not sell I think we can hit $55 a barrel within a month. I hope crude oil does not surge too quickly thought because it will hurt virtually all other sectors in our fragile economy.
Now for a crazy question... What's the deal with Sirius Satellite radio??? Up over 40% today! I bought 40,000 shares at about a nickel a share and sold covered calls for the January $2.50 strike over the past week for a nickel a share. I am in these 40,000 shares of Sirius for free. And if they do get to $2.50 (which I think is extremely unlikely), then I wouldn't mind taking $100,000 for stock I am in for virtually FREE on. I could not find any news other than an analyst from Barrington rated it as Market Perform, so if you have any info on why this stock has almost doubled in the past week, please post a comment below.
Happy St. Patrick's Day
3 comments:
My question is why did you buy 40K sh. of a stock that you don't know anything about in the first place. OK, you got lucky throwing that dart. Now do some research and see why this will be one to hold on to if you want to get rich. You're in on the bottom floor so enjoy the ride, it's upside from here! I've been buying this stock from $6.00 all the way down to a nickle because I believe in it. I'm average in at .29 and .40 so I'm in the green on one pile today and I fully believe the other will turn green tomorrow since there was more upside in the after-market again today. Yeah, I'll peel a little off on the way up but the rest is riding the stairway to heaven! There's news everywhere on WHY it is jumping 20-50% every day for the past few days now. Start by reading the 10K that recently came out.
Who said I knew nothing about the stock? I have been following it forever! When I heard the rumor of some of their debt being purchased, I finally jumped aboard and the most I could have lost was $2,000. My question was specifically about today's trading! I read the 10-k but that was on the 11th of March clearly no major influence on today's trading! I had the chance of getting free stock considering I could sell the rights to the stock for $2.50 for the price I paid per share. I don't agree with you although I want to... Siri can easily be taken down! Nobody knows when and if Siri can make $ as they never have! So what happens next time and they don't have a buyer of their debt?
Positive EBITA in the last 1/4 of 08 (first ever), expected $300M for 09. SIRI will stream via ap to Ipod and Iphone in Q2-09. Rumor of a deal to go onto PSN (Play Station Network). The possibility of expanding channels to Backseat TV along with DirecTV influence. Launching 2 more satellites, 1st in Q2-10. Top quality audio stream via their Internet Radio. Legislation on the uptick rule stopping short sellers from killing this stock and SO many others.... and so on and on and on. SIRI is just scratching the surface of what they can and will do.
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