TS $48.83 3.78 - Tenaris *** Stop Loss $42 ***
Very nice recovery for Tenaris after dipping to $44 the prior week to trigger our entry at $46. The return to $50 on Thursday was almost a breakout. That is decent resistance at $50 but pipe volume is not going down. It should be only a matter of time before $50 breaks.
Breakdown trigger: $46.00 hit 3/19
Position: SEP $50 Call TSW-IJ @ $3.40
HP $43.20 2.96 Helmerich & Payne *** Stop Loss $41 ***
No news but HP recovered from the market inspired beating it took the prior week. This is still the best chart in the portfolio.
Earnings: Jan-31st $1.02
Position: Jan 2009 $35 LEAP Call ZQA-AG @ $4.50
C $20.83 -1.67 - Citigroup *** Stop Loss $20.00 **
What a difference a week makes! Citi rebounded from $18 to $24 in one week then gave back nearly $4 in only 3-days as Oppenheimer stirred up trouble calling for a 25% decline in banking stocks. I added a stop just in case.
Position: 2010 $25 LEAP Call WRV-AE @ $4.00
AAPL $143.01 9.74 Apple Inc *** Covered LEAP Call ***
All the news is good on Apple and news out this week was the projection by BAC that 8 million 3G iPhones would be built in Q3.
RIMM $115.34 10.40 Research in Motion - No stop
Outstanding! RIMM moved very close to old resistance at $120 on an upgrade from RBC capital. The future is bright and I think the worst is behind us.
Alert entry 11/12 @ $102.60
Covered LEAP Call:
LONG RIMM @ $102.60 (cost $102.60 -9.10 $150 LEAP = 93.50)