Hot Pick Of The Day

[Rob]

Spike, I've been put squarely on the defensive ever since I ventured into this tar baby of a discussion. Then when I factually, logically and reasonably defend my position, I am told I'm out of line, that my argument is not "real," and that my "respectability" has suffered where you are concerned.

I don't have time to carry on a debate in which I have to continually go back and correct misrepresentations of my position, e.g. the implication that your bearish T/A on EBAY was the basis for my charge that you were being ill-mannered toward me. (By the way, I agree that EBAY's T/A is awful, so why should I object to that observation?)

Call me an idealist or whatever, but I believe we all can and should treat each other with respect and dignity.

I think a big part of the problem is in determining the line between good-natured sparring and serious exchanges. One poster may say something "tongue-in-cheek" that another takes as a serious statement. I know that has happend to me more than once. It's unfortunate.

[skiracer]

I took a look at the daily, weekly, and monthly charts an EBAY has been selling off since the beginning of the year and hasn't really stopped since then. Could anyone, especially a short term trader, buy this long at this point in time? I can't imagine taking a long position now but MSNMoney shows a big number in institutional buying going on. Over 800 million shares to the positive side. Those are all long term holders buying at what they think is the bottom or near bottom is the only way I could possibly rationalize that right now. I think that $15 is the next line of support for it, on the monthly, an that it could easily go to $15 from this point. But opinion is what makes a horse race.

[New-born baby]

Lookout!

Gulf Of Mexico Oil Drillers Are Preparing To Shut In Their Oil And Gas Wells Due To Hurricane Season.

[New-born baby]

Su Profits

TORONTO, Aug 3 (Reuters) - Suncor Energy Inc. (SU.TO: Quote, Profile, Research) reported a higher second-quarter profit on Thursday as it benefited from higher oil sands production and a lower income tax rate.

Suncor, which recently surpassed Imperial Oil Ltd. (IMO.TO: Quote, Profile, Research) to become the most valuable Canada oil producer and refiner by market capitalization, earned C$1.22 billion ($1.08 billion), or C$2.65 a share, up from a year-earlier C$83 million, or 18 Canadian cents a share.

Suncor said the results were driven primarily by higher oil sands production, strong commodity prices and lower federal and provincial income tax rates.



Excluding the impact of the reduction of the tax rate and the effects of unrealized foreign exchange gains on the company's U.S. dollar long-term debt, second-quarter earnings were C$755 million, or C$1.64 per common share, up from $38 million or 8 Canadian cents a share in the second quarter of 2005.

Cash flow, a glimpse into an oil company's ability to fund development, rose to C$1.32 billion in the second quarter of 2006, compared with C$305 million for the same period last year.

Suncor, known for its massive oil sands mining and processing operation in northern Alberta, said total upstream production was 302,400 barrels of oil equivalent per day during the second quarter of 2006, up from 160,600 barrels per day in the second quarter of 2005. Oil sands production in the 2006 quarter averaged 267,300 barrels per day.

The company also said it sees full year production of 260,000 barrels of oil per day.

($1=$1.13 Canadian)



© Reuters 2006. All Rights Reserved.

[New-born baby]

Earnings, Earnings, ...nah!

I bought SU at $83.85 this morning. Should have entered sooner, but didn't. Then SU shot up to $85.81 before pulling back hard to $83.09 or so. I sold SEPT $85 Calls for $5, and to cover myself for earnings, bought $80 AUG puts. Earnings announced Thursday at 6 a.m. If she drops, I have puts and call money. If she pops, I cover the puts and go on with life.

Pre-market acts like SU is going to drop. Interestingly enough, profits were up HUGE. Buy the rumor; sell the news.

Yesterday afternoon's price action was bearish and gave the warning.

[New-born baby]

Akam

PEANUTS:

See. Better safe than sorry. Profit in hand is better than taking a loss in the wallet, eh? AKAM down $.75 in premarket, and looking like a failure in this BEAR-nard market.

[New-born baby]

Low Volume

I bought SU at $83.85 this morning. Should have entered sooner, but didn't. Then SU shot up to $85.81 before pulling back hard to $83.09 or so. I sold SEPT $85 Calls for $5, and to cover myself for earnings, bought $80 AUG puts. Earnings announced Thursday at 6 a.m. If she drops, I have puts and call money. If she pops, I cover the puts and go on with life.

She didn't drop, so I covered the puts at a $.10 profit per share. I also rebought my calls at profit ($3.70), and am looking for SU to rise in price to resell the calls.

[peanuts]

PEANUTS:

See. Better safe than sorry. Profit in hand is better than taking a loss in the wallet, eh? AKAM down $.75 in premarket, and looking like a failure in this BEAR-nard market.

yup, 1% up is much better than 2% down and hoping for the rebound.

What looks good today? Has the menu changed?

[New-born baby]

yup, 1% up is much better than 2% down and hoping for the rebound.

What looks good today? Has the menu changed?

Peanuts,
I am sticking with Oil sands and gold stocks for this turbulent market. I have been posting on SU, and I own NEM. You also need to understand that while I hold the security I also sell calls or buy puts (never, ever sell a put!), and sometimes both. As the stock moves up and down, I extract profit from covering these positions, or else let the stock be called away at profit. If no option chain, I let the dog lie, esp. in this BEAR-nard market. Don't forget: he speaks Tuesday.

Other than that, I have a funeral today, so I can't play too much.

I love your posts, Man!

[Runner]

NB, what do you think of SLAB for a potential bounce play?

[New-born baby]

NB, what do you think of SLAB for a potential bounce play?

I like it, with a stop under it, or else make use of the option chain. I think she bounces here.

[Runner]

One could use 36.58 as trigger on SLAB or just over yesterdays highs.

[Runner]

SNV is trying to pop out of a triangle on a weekly chart.

[Runner]

Monthly on SNV seems to be showing a nice reversal to the upside. One to keep an eye on… Banking Stock and my wife works for them..

[peanuts]

Monthly on SNV seems to be showing a nice reversal to the upside. One to keep an eye on… Banking Stock and my wife works for them..

hmmm.... I am figuring out where you live... Tiger Country.



I have just one thing to say to you, sir. ROLL TIDE!!!!


From what I hear, you need rain. It's been a dryyyyy summer roun dem parts.

I've got a sweet little thing living in Salem