RECOMMENDATIONS ARE ALL THE SAME NO CHANGES...just a small correction regarding AXP
We are recommending credit spreads in the following issues:
HOG - Harley-Davidson is an American motorcycle manufacturer. The company operates in two segments: Motorcycles and Related Products and Financial Services. The Motorcycles segment designs, manufactures and sells heavyweight touring, custom and performance motorcycles as well as a complete line of motorcycle parts, accessories and general merchandise.
BID - Sotheby's Holdings, Inc. is one of the world's second largest auctioneers of fine arts, antiques and collectibles, offering property in collecting categories, among them paintings, jewelry, decorative arts, and books. Sotheby's Holdings, Inc is the parent company of Sotheby's worldwide auction businesses, art-related financing and private sales activities. The Company operates in countries, with principal salesrooms located in New York and London.
CBI - Chicago Bridge & Iron Company N.V. designs, builds, repairs and modifies steel tanks and other steel plate structures and associated systems. The Company designs and builds petroleum terminals, refinery pressure vessels, low temperature and cryogenic storage facilities and elevated water storage tanks for clients internationally.
We are recommending the following specific credit spreads
Call credit spreads ( bearish call spreads )
NOTICE: (CORRECTION) I am aware that AXP will be annoucing earnings tomorrow and I usually DO NOT hold positions over earnings reports . however here is a rare expection. I don't expect an upside surprise and we have nearly a 5 point cushion from our Feb 50 call. Being long this position would be a different story ( short a put spread - no way ), but I like our bearish position especially considering the current condition of the financial sector.
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