Monday, August 4, 2008

XTO Enengy -XTO and ATP Oil and Gas - ATPG

XTO Energy ticker XTO (chart above) has been a high flyer for the energy players. We seem to have shaken out a lot of the ill capitalised, latecomers to the peak oil energy table. This trend line (red) looks to offer some support. I am watching this one very closely with an eye to getting long.

ATP Oil and Gas ticker ATPG (chart above) looks to be worth our time watching as a double bottom of some significance seems to be forming. Lets watch this one very, very closely on the long side.

Good speculating to you all and never ever forget that "an investor is a speculator who made a mistake and will not admit it".

Open Positions:
Long 6 units Currencyshare Japanese Yen ticker FXY @ $88.55 stop at $91.40
Long 4 units Currencyshares Swiss Franc ticker FXF @ $97.70 stop at $93.82
Long 1 unit Ultrashort Dow ticker DXD@ $50.12 stop at $58.62
Long 1 unit Ultrashort QQQ ticker QID @ $37.05 stop at $42.87
Long 2 units Hecla Mining ticker HL @ $8.50 stop at $8.09
Long 1 unit of Powershares Agriculture ticker DBA @ $34.50 stop $32.79
Long 2 units Ultrashort 20yr Treasury ticker TBT @ $67.85 stop at $68.32
Short 1 unit Int'l Bus Machines ticker IBM @ $129.05 stop at $131.54
Short 1 unit Morgan Stanley ticker MS @ $40.35 stop at $43.43
Short 2 units of Visa ticker V @ $71.30 stop at $75.16

1 comment:

m said...

So the next stage becomes clear: unable to prop up financials further, the PPT and financial leaders collude to drive down commodity prices to make way for the next rally. Sure, it won't last more than a couple months - the cause of the recession is housing and credit, not oil or food - and it remains to be seen whether the upcoming deflationary storm will swamp non-industrial commodities down with it, but Goldman and Paulson and pals will sure have their fun while they can.