Being contrarian you must know when to get on, and off, the horse. – going with the flow so to speak.
Month: April 2009
MAL April 22
For those of my readers, there are few, only about 500 so far, that can read between the lines and still own Magellan, we still need a 4 and 5 to get us to the 1.20 level. Should not take too long as this one worked out just great. Before we all get too hubristic about it, remember that getting out of Timminco, TIM, after 30% proved to be very wise!
F April 21
China has overtaken the US in car production, after about 20 years whereas cars have existed for about 100 years in the States. Amazing how fast things happen. But Goldman Sachs has put the company on it’s “conviction†list . Perhaps we should have more conviction in what the E-wave signature of the stock is telling us. Here are the charts again.
Nice 5 down to slightly below 4th of previous degree (that is the bump on the way up!
Good luck and try not to think!
RY and CM April 21
Just a few days ago a spread trade was recommended selling 1.2 x RY at about $41 and buying CM at $51. The trade is essentially self financing so it can be done in a margin account, one side offsetting the other. Today RY is a little above $41 and CM at $53 plus for a net gain of, again roughly $2 which equates to about 4%. It may get much better than this but for anyone a little nervous on a directionally neutral position take your profit tomorrow and run.