Wednesday, June 3, 2009
Been away... but a few new plays C & NGAS.
Been busing with closing escrow this week but managed to buy back my remaining 2 C calls at an even larger ROI about 56%. Today I initiated a new position of 2000 shares in Natural Gas with NGAS at $2.40. I'm attracted to this beaten down sector and have been stalking this stock for awhile now... look like's this could be potentially in a volatility squeeze right around the 20MA support. Another stock I'm looking to grab is EEE looks like another volatility squeeze play.
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Nice return on your close out position. It looks like NGAS is a pretty thinly traded stock. As is EEE. Do you play many of these low volume stocks? I usually try to only initiate positions in stocks with minimum abg daily volume of 500k shares. But I do agree about NGAS being a beaten down sector, I will be curious to see how this plays out for you. Keep us updated.
ReplyDeleteI did want to point out that I notice that you if you put a covered call on this one you could make a nice 14-17% on the $2.5 Jul 09 expiry.
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