Yes, oil up is good for the ENER's of the world.
What do you make of BOOM here? It has severely underperformed the other steels over the last week or so. It's just stuck at this $28 level. I'm already in it and getting frustrated with the lack of movement (specifically movement UP).

Thanks Tuna. It's backed off a little bit from there but I think it looks pretty strong. I didnt think I'd get that 9.69 fill- I put it in a few days ago based on the previous reaction low and the 50-day sma.

ENER is in a congested zone here between ~41-43.70 but I think it could break out of that area if the market cooperates. The news event early next week can't hurt either.

On the short side of life I added to my FIZ short position. This has grown to a very large short for me, averaged around 14.60 now. I think, over time, it's destined to return to 10 or below.

Yah, me too. ENER is looking strong here. Still holding for now.

Hi Tuna,

RGMI is going to need a wide berth. I'm holding the small position I bought at 1.25 a little while ago and will sit on it. When hurricanes start making news again this will benefit.

And on that note I see I got filled on HOM at 9.69.

Interesting reaction so far- down on virtually no volume. I wonder how much the retrench in PM's is capping things for GPXM this morning.
Regardless, this is a long-awaited hurdle which we are now past, though there's the other hurdle 30 days hence if anyone decides to object to the poo.

That helps. Thanks for the info MAR$.
And just got filled on some SSL at 36.43

Apparently the ENER conference was moved out to early next week. I still have it but will watch it closely here.

That ENER trade is not working out so well. It set a new near-term low and I think it could be headed to 35-ish. I'm looking for an exit here.
Also BOOM is just sucking wind- again one of the few steel stocks down today. Not sure what it wrong with that one but it's among the weakest in the group. I'm going to have to take a loss here as well.

Hi Belgie,

Yes, I did see that, thanks. It's interesting to watch the sentiment slowly change among these writers and analysts of the micro-cap miners. I dont see any reason why it wont continue.

nice day for the bird today, eh Belgie
Offset much of the dreck elsewhere, thank goodness.

I think it's largely in the hands of the market. If we get any recovery at all I think ENER will make a move higher.

BOOM also seems ready to me. Of course I thought that on Friday and already have a couple positions slightly underwater. It is not acting relatively strong today, but it's at an important support point and the other steels managed a decent bounce from similar points in their charts. I'm looking for BOOM to do the same, though so far I've been off on that one.

I dunno, but the stock is acting relatively strong here, is right at it's 200-day (at least when I bought it) and has this hyploa news event tomorrow, so I figured it was worth a trade here. So far it's behaving. I'll probably sell before the news conference tomorrow morning.
Also just covered a CAL short here at 24.24.

Got some ENER here at 40.78.
11:22AM Energy Conversion announces media briefing to announce a fundamentally new device (ENER) 40.62 -0.50 : Co announces it will host a media briefing on Wednesday, May 31, 2006 at 10:00 a.m. (E.T.) to announce a fundamentally new device "with potential to open a whole new field of semiconducting control devices."

Thanks guz. Just a trade. The steels seems to be gaining some strength here and I think BOOM will follow. We'll see.

I know it's not one you really follow MAR$ but GPXM is getting jiggy here.

Just added more BOOM at 28.57

Hmm. This seems good and bad. Good that the copper seems to be exempt but I dont like that the president let the law stand in general. I obviously dont know how Mongolia's system of law or political process works, but I dont like what seems to be the rather cavalier nature of it (something we've begun to see in our own country).
Ultimately Mongolia wants to benefit as much as possible from their rich natural resource reserves and they will have to understand there is a point of diminishing returns if they rig the game too much in their favor. Mongolia needs investments from foreign mining companies and I have to believe, at the end of the procees, there will be laws and systems in place that will create ample incentive for the miners while also securing significant revenue streams for Mongolia. I just think it'll be a bumpy ride to get there.

Thanks Tuna. Looking decent so far this morning. I wish there was more volume with this sucker though. I hate the low volume bb stocks- you can get major whipsaws in these. But in this case I think the fundamentals and coming sector outperformace should provide a decnet foundation. But with bb stocks anything is possible.

Yes, was happy to see that. Thanks Tuna.

Yes, and they seem to have some decent revenues coming in now. I think the companies who have been chosen to help in the restoration of the Hurricane ravaged areas will be tapped again if this season brings more destruction. In times of distress you usually go back to who/what is known and simple and this little outfit seems to have gained a lot of customers in the last year.

Picked up some BOOM here at 28.69.
Now come on SNDK and BRCM and RMBS.

MNG is the PM stock I have held longer than any other at this point. I started an MNG position about 3 years ago and have no complaints, though things were dicey for a while with the Nanavut (sp?) situation. Now I've got IVN to keep me worried as they try to navigate their own tricky political and cultural terrain in Mongolia. That taxation ruling the other day seemed to come out of nowhere.

Hey tuna,

Looks like I was filled while attending a couple of work meetings (RGMI). In at 1.27 and now, of course, it's below that.

I decided to jump in for some SNDK at 58.40. We'll see.
BRCM is sucking wind- now down on my position there.

Hi Zeev,

What do you make of BRCM and SNDK's weakness so far today? I know you entered BRCM earlier. Do you have any current positions in SNDK? It's at the bottom of the box you follow isn't it?

Hi Tuna,

I've taken a look at RGMI and have a bid on it right now. Looks interesting.

Good luck with it Tuna. I bought SGR earlier in the same hurricane play vein. But it's more of a swing trade for me rather than a long term hold.
Off to dinner now at Spice Market in the West Village. I've been wanting to go for a while now. Have a good evening.

Hi Tuna,

Hope you are holding up well through this sea of red. Today has certainly surprised me so far, but I do believe a bounce is near. All of my trading positions bought today are underwater, but haven't breached my fairly generous stops yet. Let's see what the end of the day brings. Been very volitile recently.

Also adding some SSL and FTEK right here.

Sheesh, I duck out for a couple weeks to move and the market collapses. The old port has taken a beating, but thankfully I've been hedged a bit on the short side, so not as bad as it could be I guess.
I had a lot of precious metal open buys hit on Friday and I sold a number of them yesterday, with plans to buy back.
This drubbing has been so swift and deep I'm just amazed. But I've begun to enter some trading positions in BRCM, RMBS, SGR and FCEL here.

Hi Belgie,

Nuts might be too strong. Teetering on the edge of sanity would be fair. 8^)

Hi Dan,

I've been busy moving over the last week or so and havent been watching things very closely. But I havent been blind to the action and have watched as a whole bunch of my long dormant open buys hit in the metal sector.
I'm a new owner of SSRI at 17.90, USGL at 7.30 and more at 6.58, NG at 12.15, and added to GPXM at .395 and .431. This in addition to long existing positions in MNG, IVN, MNEAF, and SAMXF.
I've got my fill now!
Cheers.

Ha! Wouldnt dream of it Belgie.
I just had a mini-freakout this morning when I went to check things and saw GPXM down a nickel. Just wasnt expecting that so I made that post on RB.
Any bb stock makes me more skittish than usual, but I've been in GPXM for over a year now and played it pretty well. Even bought some more the other day- I'm still a believer and dont expect to stray from that view.

Just got hit with on my open buy for TINY. It's closed it's gap.

Zeev, whether you are right or wrong on the market direction, I have to admire the courage of your convictions. You've bought a fair amount of stuff this morning in the face of this decline.
Regarding BRCX, are you not afraid of that gap filling down the mid-11's? If it gets to the 13.50's it'll be in that gap, and it's not too far away from there.

May want to keep your eyes on TINY. It looks like it's headed to fill a gap at 11.39, at which point it may find a nice bounce.
Also, barring market collapse, I still think NKTR bears watching- one of the few bio's in a sustained uptrend and it's pulled back to it's breakout level (though the breakout itself, so far anyway, has been pretty anemic). Note that NKTR reports tonight though.

George, find the balance my man.
Just kidding of course. I'm sorry that you've only had the disasters. I've been in that boat too (last year I got crushed in SGTL, SYNA, DECK and DRIV and didnt have any postive trades to offset those disasters).
I think we'll ultimately be vindicated on the UNH and VPHM positions.

I've had an absurd run of being in the disasters- orct, vphm, unh, cris, sfcc. Somehow I've managed to offset these with some good trades primarily in the metal and energy sectors.
BTW, did you ever look into SSL? I still think they are an excellent long term investment.

Yeah, I can't believe my eyes. UNH is actually up on the day and holding it's gain. Nah, couldnt be.
What next, VPHM is rediscovered?