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Dropped Entries

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New Watch List Entries
HAL Halliburton
TOL Toll Brothers

Current Watch List

UPL - Ultra Petroleum

Ultra Petroleum Corp. (Ultra) is an oil and gas company engaged in the development, production, operation, exploration and acquisition of oil and gas properties. The Company's operations are focused primarily in the Green River Basin of southwest Wyoming and Bohai Bay, offshore China. As of December 31, 2005, Ultra owned interests in approximately 148,007 gross acres in Wyoming covering approximately 230 square miles. The Company owns working interests in approximately 330 gross productive wells in this area and is operator of 53% of the 330 gross wells. Its domestic operations are focused on developing and expanding a tight gas sand project located in the Green River Basin in southwest Wyoming. During the year ended December 31, 2005, the Company's Wyoming production was approximately 87.4% of total oil and natural gas production on a thousand cubic feet of natural gas equivalent (MCFE) basis and 98.5% of the Company's estimated net proved reserves were in Wyoming on an MCFE basis.

Breakdown target $50

Buy JAN 2009 $60 LEAP Call OZH-AL

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ATI - Allegheny Tech

Allegheny Technologies Incorporated (ATI) is a diversified specialty metals producer. The Company operates in three segments: High Performance Metals, Flat-Rolled Products and Engineered Products. The High Performance Metals segment produces, converts and distributes a range of high-performance alloys, including nickel and cobalt-based alloys and superalloys, titanium and titanium-based alloys, zirconium, hafnium, niobium, nickel-titanium and their related alloys. The Flat-Rolled Products segment produces, converts and distributes stainless steel, nickel-based alloys, and titanium and titanium-based alloys. The Engineered Products segment produces tungsten powder, tungsten heavy alloys, tungsten carbide materials and carbide cutting tools. ATI products are used in various markets. These markets include aerospace, defense, chemical process industry, oil and gas, electrical energy and medical.

Breakdown target $106.00

Call spread:
BUY JAN-09 $110 LEAP Call OYG-AX
SELL JAN-09 $140 LEAP Call ZKG-AH

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TEX - Terex Corp

Terex Corporation (Terex) is a diversified global manufacturer of capital equipment delivering solutions for the construction, infrastructure, quarry, mining, shipping, transportation, refining and utility industries. The Company operates in five business segments: Terex Construction, Terex Cranes, Terex Aerial Work Platforms, Terex Materials Processing & Mining, and Terex Roadbuilding, Utility Products and Other. The Company's products are manufactured at plants in North America, Europe, Australia, Asia and South America, and are sold primarily through dealers and distributors worldwide. During the year ended December 31, 2005, it acquired Halco Holdings Limited and its affiliates, and Power Legend International Limited and its affiliates. It entered into a joint venture with North Hauler Joint Stock Company Limited to produce high-capacity surface mining trucks in China. It has a 50%-ownership interest in Sichuan Changjiang Engineering Crane Co., Ltd.

Breakdown target $66.00

Call spread
BUY JAN-09 $70 LEAP Call VXQ-AN
SELL JAN-09 $110 LEAP Call VXQ-AB

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TSO - Tesoro

We were stopped out of our highly profitable TSO position and now we are looking to get back in with a different strike on the next dip in refiners. Unfortunately there has been no dip.

Company info:

Tesoro Corporation (Tesoro) is an independent petroleum refiner and marketer with two operating segments: refining, which is engaged in refining crude oil and other feedstocks at its six refineries in the western and mid-continental United States and selling refined products in bulk and wholesale markets (refining), and retail, which is engaged in selling motor fuels and convenience products in the retail market through its 460 branded retail stations in 18 states. Through its refining segment, the Company produces refined products, primarily gasoline and gasoline blendstocks, jet fuel, diesel fuel and heavy fuel oils for sale to a variety of commercial customers in the western and mid-continental United States. Tesoro's retail segment distributes motor fuels through a network of retail stations, primarily under the Tesoro and Mirastar brands.

Breakdown target: $100

BUY 2009 $110 LEAP Call ZGC-AB

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HAL - Halliburton

Halliburton Company provides a variety of services, products, maintenance, engineering and construction to energy, industrial, and governmental customers. Its six business segments are: Production Optimization, Fluid Systems, Drilling and Formation Evaluation, Digital and Consulting Solutions, Energy and Chemicals, and Government and Infrastructure. It refers to the combination of Production Optimization, Fluid Systems, Drilling and Formation Evaluation, and Digital and Consulting Solutions segments as its Energy Services Group (ESG). Halliburton Company’s Energy and Chemicals, and Government and Infrastructure segments are part of KBR, Inc. (KBR). As of December 31, 2006, the Company held an approximate 81% interest in KBR, Inc. In January 2007, Halliburton Company acquired Ultraline Services Corporation, a division of Savanna Energy Services Corp. In April 2007, the Company completed the separation of KBR. As a result, the two companies are separate and independent of each other.

HAL has completed the KBR spinoff and I don't think traders know how to value HAL yet. Options are cheap and we have plenty of time to wait for an entry.

Either entry cancels the other.

Breakdown target: $30
Buy 2009 $35 LEAP Call VHW-AG

Breakout target: $35
Buy 2009 $40 LEAP Call VHW-AH

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TOL - Toll Brothers

Toll Brothers, Inc. designs, builds, markets and arranges financing for single-family detached and attached homes in luxury residential communities in the United States. It is also involved, directly and through joint ventures, in projects where it is building or converting existing rental apartment buildings into high, mid and low-rise luxury homes. It caters to move-up, empty-nester, active-adult, age-qualified and second-home buyers in 21 states of the United States. At October 31, 2006, the Company operated from 398 communities containing approximately 31,910 home sites that it owned or controlled through options. Of the 31,910 home sites, 25,377 were available for sale and 6,533 were under agreement of sale but not yet delivered. Of the 398 communities, 300 were offering homes for sale, 14 had been offering homes for sale but were temporarily closed, and 84 were sold out but not all homes had been completed and delivered.

Toll is relatively free of the subprime stigma. Toll deals in luxury homes for an older population. Strong support at $27 has been holding since early March. Options are VERY cheap. Fitch ratings said on Friday they felt the housing market was bottoming and gave Toll its highest rating of the group. We are going to buy a breakout of the current range of a washout to 52-week support.

Either entry cancels the other.

Breakout target: $28.50
Buy 2009 $35 LEAP QTY-AG

Breakdown target: $24.00
Buy 2009 $30 LEAP QTY-AF
 

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