Forgot about the short on IBM at 106, a good start.
Already at $99 but has a lot more potential.
Month: May 2009
YLO.UN May 8 , a binary choice, red or black!
No further comment, my guess , repeat guess, is up.
SKF (Not the ballbearings!) May 7
For those in doubt about the stress tests, or otherwise a little agnostic about the group, SKF is a great trader. Other than with options and with speculative intent, I would not touch this one. For options it is as good as sliced bread.
From 300 to 40 within a relatively short time. My view is that this will trade back to the $80 level. I do not have options at my disposal but would suggest slightly out of the money calls (yes I am bullish) 4 to 6 months out. Good luck.
OTC Open Text May 7
To update the situation with Open Text, one of the few stocks where we were bearish in the past two or three months (the other being WMT that behaves like the rock of Gibraltar), the following chart;
Remember, see archives, that this stock had multiple tops at about the same level over many years, again we have a precise double top, I assume the first one is the real one but I cannot be too confident about that. Anyway ,since that point ,we are down to $35 or 20% from the top. This is most probable wave 3 and incomplete at that. $27 remains initial target despite the need for a little relief from an oversold position.