Tuesday, February 24, 2009

Getting Long International Coal Group - ICO.


The daily chart (above) of International Coal Group, ticker ICO, looks very interesting as a long punt. As my notes above indicate, I realize we are in a bear market and in a bear market the vast majority of stocks decline we should not pass up opportunities like this.

I am getting long 1 unit of ICO here at $1.50 with a stop just below the recent lows. I like $1.37 as the number.


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

Open Positions:
Long 2 units Ultrashort MSCI EAFE ticker EFU @ $89.80 stop at $99.62/114.78
Long 2 units Ultrashort S&P500 ticker SDS @ $69.80 stop @ $69.80/83.28
Long 2 units Ultrashort Real Estate ticker SRS @ $53.80 stop @ $53.80/64.72
Short 1 unit Apple ticker AAPL @ $102.05 stop at $100.11
Short 1 unit Apollo Group ticker APOL @ $82.95 stop @ $84.52
Short 1 unit Goldman Sachs ticker GS @ 96.95 stop @ $92.94
Short 1 unit Microsoft ticker MSFT @ $19.20 stop @ $19.20
Long 1 unit Int'l Coal ticker ICO @ $1.51 stop @ $ 1.37

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