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Dropped Entries

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New Watch List Entries
CLB
Core Labs
MOS Mosiac
BP BP Plc
COP ConocoPhillips

Current Watch List

PBR - Petrobras

We have had the most horrible luck on this company. As it was declining towards $110 last week some idiot in the NPA in Brazil said they had discovered a 33 billion barrel deposit. Petrobras denied it and the official may be charged with a crime for spreading disinformation. The market still has 33 billion imprinted on their foreheads and we may never see a dip here. I changed the triggers and the strikes to compensate somewhat but I am not going to chase it.

Company Info:

Petroleo Brasileiro SA - Petrobras (Petrobras) is a Brazil-based holding company engaged in the exploration, production, refinement and distribution of oil and gas. The Company is involved in four business areas: Exploration and Production, Downstream, Gas & Energy and International. Petrobras has 109 production platforms and 15 refineries. It operates 31,089 kilometers of pipelines. The Company has various subsidiaries: Petrobras Quimica SA - Petroquisa, which is engaged in the production, commercialization, distribution, import and export of chemical products; Petrobras Distribuidora SA - BR, which is involved in the distribution and commercialization of oil products and natural gas, and Petrobras Netherlands BV - PNBV, which is active in the purchase, sale and rent of equipment and platforms for the production of oil and gas. Petrobras operates in Brazil, Argentina, Mexico, Portugal, the United States, Peru and Turkey, among others.

Breakdown trigger: $115 *** New Trigger ***

Buy 2010 $120 LEAP Call YMO-AD
Sell 2010 $180 LEAP Call YMO-AX ** New Strike **

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USO - U.S. Oil Fund

If we do get a drop in crude from the May futures expiration cycle maybe we can get lucky with these higher strikes.

Breakdown trigger: $87 *** New trigger ***

Buy 2009 $90 LEAP Call OLL-AL *** New Strike ***
Sell 2009 $120 LEAP Call XNF-AP *** New Strike ***

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CLB - Core Labs

We have had a tough time with Core. We were stopped out on the March dip and then missed the current rise. If we get a post expiration decline I would be willing to risk another entry at $130.

Company Info:

Core Laboratories N.V. (Core Lab) is a provider of reservoir description, production enhancement and reservoir management services to the oil and gas industry. Core Lab has over 70 offices in more than 50 countries. The Company derives its revenues from services and product sales to clients primarily in the oil and gas industry. Its reservoir optimization services and technologies are interrelated and are organized into three complementary segments: Reservoir Description, which encompasses the characterization of petroleum reservoir rock, fluid and gas samples; Production Enhancement, which includes products and services relating to reservoir well completions, perforations, stimulations and production, and Reservoir Management, which combines and integrates information from reservoir description and production enhancement services.

Breakdown trigger: $130

Buy 2010 $140 LEAP Call LYM-AH
Sell 2010 $175 LEAP Call LYM-AU

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MOS - Mosaic

Another run away stock that exploded for $30 on news headlines on Potash (POT). Nothing seems to phase it but I refuse to chase it. Look for a pullback for an entry.

Company Info:

The Mosaic Company (Mosaic) is a producer of phosphate and potash combined, as well as nitrogen and animal feed ingredients. The Company operates its business through four business segments: phosphates, potash, offshore and nitrogen. The Phosphates segment operates mines and concentrates plants in Florida that produce phosphate fertilizer and feed phosphate, and concentrates plants in Louisiana that produce phosphate fertilizer. The Potash segment mines ad processes potash in Canada and the United States and sells potash in North America and internationally. The Offshore segment produces and markets fertilizer products and provides other ancillary services to wholesalers, cooperatives, independent retailers, and farmers in South America and the Asia-Pacific regions. The Nitrogen segment consists of its equity investment in Saskferco and Mosaics nitrogen sales and distribution activities.

Breakdown trigger: $120

Buy 2010 $140 LEAP Call LXW-AX
Sell 2010 $240 LEAP Call KCA-AH

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BP - BP PLC

Based on the recent announcements by BP it may be time to take another run at this stock. When Thunderhorse comes online in Q3 it should get a lot of press due to the high volume of oil they expect to produce. Maybe BP's troubles are over.

*** CAUTION - Earnings are April 29th ***

Company Info:

BP p.l.c. (BP) is a holding company. The Company three business segments: Exploration and Production, Refining and Marketing and Gas, Power and Renewables. Exploration and Productions activities include oil and natural gas exploration, development and production (upstream activities), together with related pipeline, transportation and processing activities (midstream activities). The activities of Refining and Marketing include the supply and trading, refining, marketing and transportation of crude oil, petroleum and chemicals products. Gas, Power and Renewables activities included marketing and trading of gas and power, marketing of liquefied natural gas (LNG), natural gas liquids (NGLs) and low-carbon power generation through its Alternative Energy business. During the year ended December 31, 2007, BP acquired Chevrons Netherlands manufacturing company, Texaco Raffiniderij Pernis B.V. In April 2008, BP registered in Russia its subsidiary BP Exploration Services.

Breakdown trigger: $65.

Buy 2010 $70 LEAP Call WAO-AN

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COP - ConocoPhillips

Earnings are April 24th. Maybe we can get a double dip of a drop in crude futures and earnings from ConocoPhillips.

Company Info:

ConocoPhillips is an international, integrated energy company. It has six operating segments. Exploration and Production segment explores for, produces and markets crude oil, natural gas and natural gas liquids. Midstream segment gathers, processes and markets natural gas, and fractionates and markets natural gas liquids, primarily in the United States and Trinidad. Refining and Marketing segment purchases, refines, markets and transports crude oil and petroleum products. LUKOIL Investment segment consists of its equity investment in the ordinary shares of OAO LUKOIL. The Chemicals segment manufactures and markets petrochemicals and plastics on a worldwide basis. Emerging Businesses segment includes the development of new technologies and businesses outside the Companys normal scope of operations. In October 2007, American Electric Power Company, Inc. sold its 50% interest in the Sweeny Cogeneration plant in Texas to ConocoPhillips.

Breakdown trigger: $80

BUY 2010 $90 LEAP Call YRO-AR
 

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