Option Writers Newsletter, Friday, 02/10/2006 12:16:04 AM ET
EPEX CLOSED OUT - WATCH LIST EXPANDED
by Steve Gail
HAVING TROUBLE PRINTING?
EPEX CLOSED OUT for $1.65 NET DEBIT or $1.15 NET LOSS
EPEX - On what was a promising morning that looked like a promising day for a rebound in oil and related issues, ended up with a disappointing finish, Energy issues failure to hold morning gains led to big drop in EPEX in afternoon and forced us to close out our position with a net debit of $1.65 and net loss of $1.15 when the issue closed under $30. For any subcribers who did not close out their position in EPEX on close below $30 they should liquidate the position tomorrow on the opening.
WATCH LIST UPDATE - as of 2-9-06
GRA - This issue continues to be a drag as energy and related issues remain under pressure. With the current weakness in energy and the failure of the asbestos trust fund to stablize the issue we must carefully watch this issue for ANY close below $10 will signal a closing of this position WATCH VERY CAREFULLY. Issue needs to support and close above $10 to justify us holding it.
DPTR - Recent drop below the $21 level,( $20.86) has caused DPTR to remain on our WATCH list.
We are looking for any leveling in oil prices to stablize this issue. We will be watching this issue accordingly, and if we need to act we will keep you advised. A close below the $20 area will force us to close out this position.
IDCC Recently added to our Watch List by baring closing slightly below our WATCH List target of $24.50. We will keep an eye on this issue. We do have several points of cushion that we hopefully can maintain as wego into the last week of the Feb expirations
The leaves three (3) issues on our current WATCH LIST as of 2-9-06
WATCH LIST INCLUDES: as of Feb. 9, 2006
March recommendations will begind this weekend. Stay posted.