Thursday, June 19, 2008

Kill the Energy Rally!?!! ~ BUY COAL!



Yesterday we bought JRCC & ICO .... this morning up 5% and 3%+ , both made new 52 week highs!  Is it that easy??? is coal this sexy?? ...blah, blah...  Then came the HAND OF DOOM!  ... Did we buy the top in coal? is the run over? Adam mentions interesting timing in COAL put buying today...hmmm...  ICO down 7% ... we had to buy more!   

With options expiration tomorrow, look for ICO to head toward $12.50 ... next week the energy rally is ALIVE!   ~ BUY ON THE DIP! 

p.s.  YZC SHORT, our DIE CHINA COAL hedge, ... down another 4.65% ;-) 

p.s.s. Non-Petrohawk owners? did you buy HK today?  ... "team rules"

7 comments:

Anonymous said...

LOL I bought HK options yesterday... but I'm sure I'll be fine.

What do you think of the depression rumors? I'll believe Warren Buffet and Jim Rogers who say that we're going to go through a severe recession.

BUY ON THE DIP said...

Faith in Floyd ... nice!

and yes, we call it the "GREAT RECESSION"

...banks are fucked, the consumer is fuck, houses are depreciating daily, ... and until home values hit bottom this can't end. we'll let you know when our $650K palace of depreciation hits $450K ... about another $100K lower and we'll be there.

cheers.

too bad we can't just writeoff our losses or take a severance package.... good thing Lehman holds our mortgage , those fucktards. betting against them was the best mortgage hedge ever. ha.

p.s. COFUK hit $15 today.

BUY ON THE DIP said...

p.s. nice call by one of our readers on ESLR up 20%!!!!

Anonymous said...

Oh yeah I sure do have faith. I bought some options a month ago on the high and sold for a loss of 60%. Those same options (if held) would have returned 600%+ as of today!!!

I've learned my lesson and closed a 100% profit in HK the other day!!!

GO FLOYD!

I wonder what company he'll go to next. I know I'll be right there with you, BOTD buying buying buying with faith in FLOYD!

Anonymous said...

yeah i finally bought hk, been waiting, and following along, should have bought it sooner

sf_racer94 said...

I took profit on ESLR today. bought back in on the dip and sold again before close. waiting to see if it will stay above 12. lots of resistance. it went up to 12 and crashed back to 10 same day, then down to 9 back in may IIRC.

BuddyD said...

I bought more HK and more ICO - ICO will break through $12

Spoke with close friend about HK last night, he is 30 years in oil and gas and HK is a major player.