This is the XIU, proxy for TSE. Click on chart to enlarge.
For the HXU this means;
So 6 in two weeks is the goal, target is at least 12.
Year: 2009
NCX Feb 23 ( better lucky than smart)
Early january I put NCX in as a buy under $5 based on fundamentals of all things, it shot up to $7+ almost immediately which to me implies that you should sell there and then. 30% in such a short time is pure luck so sell. Had you not done so more good fortune is coming our way today, courtesy the United Arab Emirates. From Abu Dhabi we hear there is a US$ 6 bid per share for the entire company. Go for it.
CBS Feb 22 (or entertainment is the real reason for investing)
This is the parent company of CNBC, Maria Bartolomo et.al, the voice of (raw) capitalism. It is trading at a P/E of 2.8, is valued at 2x cash-flow, has gone from $55 to almost $4 and has an open short position of >6% of the float. It is worth $4bln or 4x as much as GM.
Here is the big picture.
The discerning reader will immediately recognize this particular pattern as it seems to be recurring all the time. Notice that the stock has NEVER been lower than the almost $4 in late December.
Looking at the detail it seems to me that the move up from the late Dec. low is very possible a 5-wave move and therefore perhaps the beginning of a bull move, long or short but one that as a minimum requires another leg up! If so the minimum target would be about $10. A call option due June (way too far) with a strike of $5 can be bought for $0.45. ,the $7.5 strike for 10 cents. Seems to me much better odds than 649. The whole process, should it occur would take about a month to 5 weeks so a shorter and cheaper option may work even better. Should this work, it is a 10 bagger. Perhaps BNN will buy it.
CI Cigna Feb 23 (re; FFH) More on insurance.
On the 6th of Oct, 2003 we had a little round table do at the National Club where I presented a few choice picks, one of which was Cigna, recall that this is exactly at the same time that FFH is making a low of about $50
Note that the stock had completed a very nice 5-3-5 corrective A-B-C where the C was about vector equal to the A. Nearly always a buy, in this case with a minimum target of $37 (top of B). Needless to say , nobody bought it.
Which was a shame as the stock exceeded the target by $20 or so. More importantly after the new highs the stock is once again slaughtered which may be somewhat indicative of what one might expect from the insurance business at this time. Much of their earnings are derived from their investment returns, without which the premiums are insufficient to cover the risks.