WATCH LIST COMMENTARY: CHANGES
WATCH LIST: BOOM off WATCH LIST. CAL, AMR and GM remain but put some distance between the short option prices
BOOM closes above $31.50 and comes off the WATCH LIST, in addition eventhough GM, CAL and AMR still remain on the WATCH LIST They are have anywhere from $1 -$2 of downside going into the last 13 hours of trading this expiration period.
WATCH LIST: ACTION
CAL -Continued easing of oil prices and the good inflation news along with the continued middle cease fire, and now lower inflation numbers helped CAL put some distance between our short put price, and although CAL remains under our WATCH LIST of $25.00. We have about $2.00 of protection going into the last 2 days. Oil prices are the key.
AMR - closes up to $21.13,added by the same plus the CAL had today, middle ease and probably more by sliding oil prices and lower than expected inflation numbers. AMR made a great stand at $19, now we have $1.13 of protection with 2 days left. A lot different from last week at this time. oil was and will be the key for the next two days.
GM- bounces slightly to $30.99 which is still below the $31.50 WATCH LIST Price
and thus remains on the list. However, $2.50 is a lot of room with 2 days, especially after analyst have already hailed the praises of F (Ford) over GM. We have a lot of room, unless Murphy appears, You remember that guy don't you.
CURRENT ISSUES on WATCH LIST: 8-16-06
CAL AMR GM